CUMULUS MEDIA INC. (NASDAQ:CMLS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
CUMULUS MEDIA INC. (NASDAQ:CMLS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On December 15, 2016, the compensation committee of the board of directors of Cumulus Media Inc. (the “Company”) approved for payment one-time discretionary cash incentive compensation awards to the following executive officers: John Abbot, the Executive Vice President, Treasurer and Chief Financial Officer ($421,875), and Richard Denning, Senior Vice President, Secretary and General Counsel ($165,000). The cash awards were made in recognition of, among other things, the exceptional efforts and contributions made by those executive officers during 2016, both individually and as members of the management leadership team, in the initial phase of the Company’s operational turnaround plan and ongoing operational and financial restructuring. These cash incentive award payments have been made in lieu of any award to which those executive officers might have been entitled under the Company’s annual incentive plan for 2016 (the “EIP”), as previously disclosed. As a result, no payments will be made under the EIP for 2016 to those executive officers.
About CUMULUS MEDIA INC. (NASDAQ:CMLS)
Cumulus Media Inc. (Cumulus) is a radio broadcasting company. The Company is also a provider of country music and lifestyle content through its NASH brand, which serves through radio programming, NASH Country Weekly magazine and live events. Its product lines include broadcast advertising, digital advertising, political advertising and non-advertising based license fees. Its broadcast advertising includes the sale of commercial advertising time to local, national and network clients. Its digital advertising includes the sale of advertising and promotional opportunities across its Websites and mobile applications. Its across the nation platform generates content distributable through both broadcast and digital platforms. Its categories of advertisers consist of amusement and recreation; banking and mortgage; furniture and home furnishings; arts and entertainment; food and beverage services; healthcare services; automotive dealers; food and beverage stores, and telecommunications. CUMULUS MEDIA INC. (NASDAQ:CMLS) Recent Trading Information
CUMULUS MEDIA INC. (NASDAQ:CMLS) closed its last trading session down -0.07 at 1.00 with 230,382 shares trading hands.
Cumulus Media Inc. (Cumulus) is a radio broadcasting company. The Company is also a provider of country music and lifestyle content through its NASH brand, which serves through radio programming, NASH Country Weekly magazine and live events. Its product lines include broadcast advertising, digital advertising, political advertising and non-advertising based license fees. Its broadcast advertising includes the sale of commercial advertising time to local, national and network clients. Its digital advertising includes the sale of advertising and promotional opportunities across its Websites and mobile applications. Its across the nation platform generates content distributable through both broadcast and digital platforms. Its categories of advertisers consist of amusement and recreation; banking and mortgage; furniture and home furnishings; arts and entertainment; food and beverage services; healthcare services; automotive dealers; food and beverage stores, and telecommunications. CUMULUS MEDIA INC. (NASDAQ:CMLS) Recent Trading Information
CUMULUS MEDIA INC. (NASDAQ:CMLS) closed its last trading session down -0.07 at 1.00 with 230,382 shares trading hands.