secwatch.observer — SEC 8-K summary
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Issuer:     E.W. SCRIPPS Co (SSP)
CIK:        0000832428
Form:       8-K
Filed at:   2022-08-04T23:59:59+00:00
Accession:  0000832428-22-000024
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 5.02, 9.01, 10.1
LLM model:  deepseek-v4-flash:cloud@v2

Scripps extends CEO Adam Symson's contract to 2027 with $1.275M salary and $8M one-time grant
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- New employment agreement with CEO Adam Symson runs through Dec 31, 2027; replaces prior three-year contract.
- Base salary set at $1,275,000/year effective Jan 1, 2023; target annual incentive 110% of base.
- Target long-term incentive for 2023 fiscal year is at least $4,200,000; one-time grant of $8,000,000 RSUs (70% performance, 30% time).
- Performance-based RSUs vest over 5 years based on operating cash flow and relative TSR goals.
- Severance includes 2x salary and target bonus, plus COBRA for 2 years if terminated without cause or for good reason.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/832428/000083242822000024/0000832428-22-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/832428/000083242822000024/ssp-20220802.htm
  HTML page:      https://secwatch.observer/filing/0000832428-22-000024

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer