other material
confidence high
sentiment neutral
materiality 0.40
Entravision adopts new executive bonus, severance plans; new compensation letters for three top execs
ENTRAVISION COMMUNICATIONS CORP
- Compensation Committee approved Executive Cash Incentive Bonus Plan on May 12, 2023 for named executive officers.
- Executive Severance Plan provides Group II execs (all named officers) with base salary, target bonus, pro-rata bonus, equity acceleration, and health coverage.
- New comp letters: Young (Interim CEO/CFO) base $670k, Liberman (President/COO) base $750k, Meyer (CRO) base $628k. Each bonus target 60% of base, Group II severance.
- Severance Plan includes change-in-control provisions with 1x base salary and target bonus for Group II execs.
- All agreements effective May 12, 2023; replace prior employment agreements for Young, Liberman, and Meyer.