PROPEL MEDIA, INC. (NYSE:NEWM) 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
|
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On May 8, 2017, the Board of Directors (the Board) of
Propel Media, Inc. (the Company) approved a modification
to the cash bonus program in which certain of the Companys
officers participate.
Under the cash bonus program, the Company planned to pay up to 5%
of its quarterly EBITDA as bonuses to its executives, subject to
certain conditions being met. To date, the Company has awarded
bonuses covering 3.75% of its quarterly EBITDA. Effective as of
January 1, 2017, the Board has determined to award the remaining
1.25% to the Companys executives according to the following
percentages: 30% to Marv Tseu, the Companys Chief Executive
Officer, 30% to David Shapiro, the Companys Chief Operating
Officer, 20% to Daniela Nabors, the Companys Chief Revenue
Officer, and 20% to certain other employees of the Company.
About PROPEL MEDIA, INC. (NYSE:NEWM)
New Media Investment Group Inc. is a holding company. The Company owns, operates and invests in local media assets. The Company’s segments include Eastern US Publishing, Central US Publishing, Western US Publishing and BridgeTower. It focuses on owning and acquiring local media assets in small to mid-size markets. It is a publisher of local newspapers and related publications. As of December 25, 2016, its portfolio of media assets spanned across 538 markets and 36 states. As of December 25, 2016, its products included 631 community print publications, 538 Websites and two yellow page directories. Its directory portfolio includes Surewest Directories located in and around the Sacramento, California area, primarily in Roseville, California. The Roseville directory serves the local Roseville community. It also owns additional directory based in Mt. Shasta, California. Propel is its business services product line with digital products designed for small and midsized businesses (SMBs). PROPEL MEDIA, INC. (NYSE:NEWM) Recent Trading Information
PROPEL MEDIA, INC. (NYSE:NEWM) closed its last trading session down -0.22 at 12.60 with 707,455 shares trading hands.