Mediaco Holding Inc. Announces Board and Officer Changes
Ticker: MDIA · Form: 8-K · Filed: Sep 23, 2024 · CIK: 1784254
| Field | Detail |
|---|---|
| Company | Mediaco Holding Inc. (MDIA) |
| Form Type | 8-K |
| Filed Date | Sep 23, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $1,000,000, $700,000, $525,000, $300,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-of-directors, officer-appointment
TL;DR
Mediaco Holding Inc. shakes up its board and exec team, new faces in, old faces out.
AI Summary
Mediaco Holding Inc. announced on September 17, 2024, changes in its board of directors and officer appointments. The filing details the departure of certain officers and directors, alongside the election of new directors and the appointment of new officers. Specific details regarding the compensatory arrangements for these officers are also included in the report.
Why It Matters
Changes in a company's leadership and board composition can signal shifts in strategy, governance, or operational focus, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in executive leadership and board composition can introduce uncertainty regarding future strategy and operational stability.
Key Numbers
- 001-39029 — Commission File Number (Identifies the specific SEC filing for Mediaco Holding Inc.)
- 84-2427771 — I.R.S. Employer Identification No. (Tax identification number for Mediaco Holding Inc.)
Key Players & Entities
- Mediaco Holding Inc. (company) — Registrant
- September 17, 2024 (date) — Date of Earliest Event Reported
- Indiana (jurisdiction) — State of Incorporation
- 395 HUDSON ST, FLOOR 7 NEW YORK , New York 10014 (address) — Address of principal executive offices
- 212-229-9797 (phone_number) — Registrant's telephone number
FAQ
What specific roles have been affected by the departure of officers and directors?
The filing indicates the departure of 'certain officers' and 'certain directors' but does not specify the exact roles in this section of the report.
Who are the newly elected directors and appointed officers?
The filing states that new directors have been elected and new officers appointed, but their names and specific positions are not detailed in the provided excerpt.
What is the nature of the compensatory arrangements for the new officers?
The report mentions that details regarding the compensatory arrangements for certain officers are included, but the specifics are not provided in this excerpt.
When did these changes in leadership take effect?
The earliest event reported is dated September 17, 2024, which is the date of the report.
Where is Mediaco Holding Inc.'s principal executive office located?
Mediaco Holding Inc.'s principal executive office is located at 395 Hudson St, Floor 7, New York, New York 10014.
Filing Stats: 799 words · 3 min read · ~3 pages · Grade level 15.6 · Accepted 2024-09-23 16:30:48
Key Financial Figures
- $0.01 — stered Class A Common Stock, par value $0.01 per share MDIA Nasdaq Capital Marke
- $1,000,000 — equity incentive plan, with a value of $1,000,000, of which 50% shall vest ratably over a
- $700,000 — 024, with: o a base annual salary of $700,000; o annual cash incentive compensatio
- $525,000 — tive compensation in a target amount of $525,000, with achievement determined based on t
- $300,000 — 024, with: o a base annual salary of $300,000; o annual cash incentive compensatio
Filing Documents
- a8k.htm (8-K) — 30KB
- 0000929638-24-003206.txt ( ) — 165KB
- mdia-20240917.xsd (EX-101.SCH) — 4KB
- mdia-20240917_lab.xml (EX-101.LAB) — 22KB
- mdia-20240917_pre.xml (EX-101.PRE) — 16KB
- a8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 17, 2024, the Board of Directors (the "Board") of MediaCo Holding Inc. (the "Company"), based on the recommendation of the Compensation Committee of the Board (the "Committee"), approved the following actions regarding the compensation of certain executive officers of the Company. For Brian Kei, the Chief Operating Officer of the Company, the Board approved an equity grant, to be made promptly after the approval by the Company's stockholders of a new omnibus equity incentive plan, with a value of $1,000,000, of which 50% shall vest ratably over a period of three years after the date of grant, and 50% shall vest based on performance, as determined by the Company in its sole discretion. For Alberto Rodriguez, the Chief Revenue Officer of the Company and the President of MediaCo Audio, the Board approved a new employment arrangement, commencing as of September 16, 2024, with: o a base annual salary of $700,000; o annual cash incentive compensation in a target amount of $525,000, with achievement determined based on the discretion of the Committee; o an equity grant, to be made promptly after the approval by the Company's stockholders of a new omnibus equity incentive plan, with a value of $1,000,000, of which 50% shall vest ratably over a period of three years after the date of grant, and 50% shall vest based on performance, as determined by the Company in its sole discretion; o severance arrangements providing for a severance payment, in the event Mr. Rodriguez is terminated by the Company without cause (as determined by the Company in its sole discretion), equal to five (5) months of Mr. Rodriguez's base salary; and o the right to participate in all employee benefit plans of the Company for which he is eligible. For Andrew Carington, the Chief Legal Officer of the Company, an ar
SIGNATURES
SIGNATURES 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. MEDIACO HOLDING INC. Date: September 23, 2024 By: /s/ Jacqueline Hernndez Name: Jacqueline Hernndez Title: Interim Chief Executive Officer