Beasley Broadcast Group Board Changes
Ticker: BBGI · Form: 8-K · Filed: Oct 25, 2024 · CIK: 1099160
| Field | Detail |
|---|---|
| Company | Beasley Broadcast Group Inc (BBGI) |
| Form Type | 8-K |
| Filed Date | Oct 25, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001, $450,000, $112,500, $150,000, $250,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, management-transition
Related Tickers: BBGI
TL;DR
Beasley Broadcast board shake-up: George and Caroline Beasley out, Collins and Shapiro in.
AI Summary
Beasley Broadcast Group, Inc. announced on October 23, 2024, a change in its board of directors. Specifically, George G. Beasley and Caroline Beasley have resigned from their positions as Class II directors, effective immediately. The company has appointed two new Class II directors, Michael T. Collins and Scott E. Shapiro, to fill these vacancies.
Why It Matters
This filing indicates a shift in the leadership structure of Beasley Broadcast Group, which could signal strategic changes or a response to internal dynamics.
Risk Assessment
Risk Level: medium — Changes in board composition can sometimes precede significant strategic shifts or indicate underlying governance issues.
Key Players & Entities
- Beasley Broadcast Group, Inc. (company) — Registrant
- George G. Beasley (person) — Resigning Class II Director
- Caroline Beasley (person) — Resigning Class II Director
- Michael T. Collins (person) — Newly Appointed Class II Director
- Scott E. Shapiro (person) — Newly Appointed Class II Director
- October 23, 2024 (date) — Effective date of resignations and appointments
FAQ
Who resigned from the Beasley Broadcast Group board of directors?
George G. Beasley and Caroline Beasley resigned from their positions as Class II directors.
When were the director changes effective?
The resignations and appointments were effective on October 23, 2024.
Who has been appointed to fill the director vacancies?
Michael T. Collins and Scott E. Shapiro have been appointed as new Class II directors.
What class of directors were George G. Beasley and Caroline Beasley?
They were Class II directors.
What is the principal executive office address for Beasley Broadcast Group, Inc.?
The principal executive offices are located at 3033 Riviera Drive, Suite 200, Naples, Florida 34103.
Filing Stats: 1,187 words · 5 min read · ~4 pages · Grade level 11.1 · Accepted 2024-10-25 17:02:00
Key Financial Figures
- $0.001 — stered Class A Common Stock, par value $0.001 per share BBGI Nasdaq Capital Marke
- $450,000 — Ms. Coleman to an annual base salary of $450,000 and the opportunity to earn an annual p
- $112,500 — salary, with a minimum annual bonus of $112,500 guaranteed each year, and pro-rated for
- $150,000 — led to a one-time cash sign-on bonus of $150,000, which sign-on bonus is subject to repa
- $250,000 — mber 1, 2025 and an additional bonus of $250,000, payment of which is subject to the suc
Filing Documents
- d886908d8k.htm (8-K) — 31KB
- d886908dex101.htm (EX-10.1) — 87KB
- d886908dex991.htm (EX-99.1) — 5KB
- g886908g1025204220643.jpg (GRAPHIC) — 5KB
- 0001193125-24-244204.txt ( ) — 279KB
- bbgi-20241023.xsd (EX-101.SCH) — 3KB
- bbgi-20241023_lab.xml (EX-101.LAB) — 18KB
- bbgi-20241023_pre.xml (EX-101.PRE) — 11KB
- d886908d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Executive Employment Agreement dated as of October 23, 2024 between Beasley Broadcast Group, Inc. and Lauren Burrows Coleman. 99.1 Press Release Dated October 23, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEASLEY BROADCAST GROUP, INC. Date: October 25, 2024 By: /s/ Caroline Beasley Caroline Beasley Chief Executive Officer 4