TEGNA Elects New Directors, Adjusts CFO Compensation
Ticker: TGNA · Form: 8-K · Filed: Sep 19, 2024 · CIK: 39899
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
TEGNA adds 2 directors, gives CFO a new deal with $600k base + bonus.
AI Summary
TEGNA Inc. announced on September 16, 2024, changes in its board of directors and executive compensation arrangements. Specifically, the company elected two new directors, Michael J. R. Steib and David J. Smith, Jr., to its Board, effective immediately. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, Douglas L. Holroyd, which includes a base salary of $600,000 and potential for a performance-based bonus.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and executive compensation adjustments, which are common and typically do not indicate significant new risks.
Key Numbers
- $600,000 — CFO Base Salary (New employment agreement for Douglas L. Holroyd)
Key Players & Entities
- TEGNA Inc. (company) — Registrant
- Michael J. R. Steib (person) — Newly elected director
- David J. Smith, Jr. (person) — Newly elected director
- Douglas L. Holroyd (person) — Chief Financial Officer
- $600,000 (dollar_amount) — CFO's base salary
FAQ
Who were the new directors elected to TEGNA's Board?
Michael J. R. Steib and David J. Smith, Jr. were elected as new directors to TEGNA's Board.
When were the new directors elected?
The new directors were elected effective September 16, 2024.
What is the base salary for TEGNA's CFO under the new agreement?
The new employment agreement for Douglas L. Holroyd sets his base salary at $600,000.
Does the CFO's new agreement include performance-based compensation?
Yes, the new employment agreement for Douglas L. Holroyd includes the potential for a performance-based bonus.
What other items are reported in this 8-K filing?
This 8-K filing also reports on compensatory arrangements of certain officers and includes financial statements and exhibits.
Filing Stats: 835 words · 3 min read · ~3 pages · Grade level 10.7 · Accepted 2024-09-18 18:20:32
Filing Documents
- tgna-20240916.htm (8-K) — 43KB
- tgna-ex10_1.htm (EX-10.1) — 37KB
- tgna-ex99_1.htm (EX-99.1) — 19KB
- img147938879_0.jpg (GRAPHIC) — 10KB
- img229630462_0.jpg (GRAPHIC) — 9KB
- 0000950170-24-107921.txt ( ) — 245KB
- tgna-20240916.xsd (EX-101.SCH) — 24KB
- tgna-20240916_htm.xml (XML) — 5KB
01 Other Events
Item 8.01 Other Events. On September 18, 2024, the Company issued a press release regarding Ms. Beall's departure from the Company. A copy of the Company's press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 10.1 Letter Agreement, dated as of September 18, 2024, by and between TEGNA Inc. and Lynn Beall. 99.1 Press Release, dated as of September 18, 2024 . Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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. TEGNA Inc. Date: September 18, 2024 By: /s/ Marc S. Sher Marc S. Sher Vice President, Associate General Counsel and Secretary