Stagwell extends CEO Mark Penn's employment to 2025, grants 1.5M SARs at $8.27

Stagwell Inc

Amended employment agreement extends CEO Mark Penn's term through March 31, 2025.
Base salary increases to $1.06M effective Jan 1 2022 and to $1.26M effective Jan 1 2023.
CEO granted 1.5M stock appreciation rights (SARs) with base price $8.27 per share.
SARs vest in three equal annual installments; 1.312M SARs require shareholder approval at 2022 annual meeting.
Unvested SARs upon termination without cause or good reason; expiration 5 years from grant.

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