secwatch.observer — SEC 8-K summary
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Issuer:     SALEM MEDIA GROUP, INC. /DE/ (SALM)
CIK:        0001050606
Form:       8-K
Filed at:   2022-04-01T23:59:59+00:00
Accession:  0001193125-22-092335
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050606/000119312522092335/0001193125-22-092335-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050606/000119312522092335/d305296d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-092335

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