ENTRAVISION COMMUNICATIONS CORPORATION (NYSE:EVC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02(e) Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On March 24, 2017, Entravision Communications Corporation (the
Company) entered into a new employment agreement with Jeffery A.
Liberman, to which he will serve as the Companys President Chief
Operating Officer. This agreement, effective as of March 1, 2017,
replaces a similar agreement with Mr. Liberman, which agreement
was entered into effective as of January 1, 2016.
The agreement with Mr. Liberman provides for an initial base
salary of $650,000 per year for the term of his agreement, which
ends on February 29, 2020. Mr. Libermans base salary may be
increased in the discretion of the Compensation Committee of the
Board of Directors of the Company. In addition, Mr. Liberman is
eligible to receive a discretionary annual bonus of up to 50% of
his then-current base salary. He is also eligible for equity
incentive grants under the Companys equity incentive plans.
If Mr. Libermans employment is terminated by us without cause or
by Mr. Liberman for good reason (including a change of control of
the Company where Mr. Liberman is not offered continued
employment as a senior executive or is required to move his
residence outside the greater Los Angeles, California area), he
will be entitled to receive all accrued salary and benefits
through the date of termination, any discretionary bonus that is
approved by the Compensation Committee of the Board of Directors
and a severance payment equal to (i) one year of his then-current
base salary, multiplied by (ii) 1.5. If Mr. Libermans employment
is terminated by us for cause, he will only be entitled to
receive accrued salary and benefits through the date of
termination and shall be ineligible for any bonus or other
compensation.
The foregoing summary does not purport to be complete and is
qualified in its entirety by the terms of the employment
agreement filed as Exhibit 10.1 to this Current Report on Form
8-K, which is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
|
10.1 |
Employment Agreement effective as of March 1, 2017 by and |
Management contract or compensatory plan, contract or
arrangement.
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About ENTRAVISION COMMUNICATIONS CORPORATION (NYSE:EVC)
Entravision Communications Corporation is a media company. The Company reaches and engages Hispanics in the United States and certain border markets of Mexico across media channels and advertising platforms. The Company operates through three segments: television broadcasting, radio broadcasting and digital media. Its television broadcasting segment owns and operates Univision-affiliated television stations in approximately 20 markets, including over 20 of the 50 Hispanic markets in the United States. Its radio broadcasting segment owns and operates approximately 50 radio stations (38 FM and 11 AM), most of which are located in the Hispanic markets in the United States. Its digital media segment provides digital advertising solutions that allow advertisers to reach online Hispanic audiences. It operates a technology and data platform that delivers digital advertising in various advertising formats to allow advertisers to reach Hispanic audiences. ENTRAVISION COMMUNICATIONS CORPORATION (NYSE:EVC) Recent Trading Information
ENTRAVISION COMMUNICATIONS CORPORATION (NYSE:EVC) closed its last trading session 00.00 at 6.10 with 329,398 shares trading hands.