Salem Media amends CEO and COO employment agreements with new incentive structure

SALEM MEDIA GROUP, INC. /DE/

CEO David Santrella base salary set at $661k (2022), $674,220 (2023), $687,704 (2024).
Quarterly bonuses for Santrella: up to $6,800 each for achieving total company revenue/EBITDA budgets.
Annual restricted stock award of $25k for Santrella if revenue exceeds budget by ≥$2M and grows ≥5% YoY.
Santrella receives option to purchase 50,000 shares of Class A common stock vesting over 4 years.
COO David Evans incentive includes quarterly bonuses up to $5,700 for company targets and $2,800 for non-broadcast/Regnery.

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