Industry News

Audacy Board Agrees to Pay $3.2 Million in Executive Retention Bonuses

In a filing with the Securities and Exchange Commission, Audacy reports that the company’s Compensation Committee of the Board of Directors approved $3.2 million in retention awards to officers, including $1 million toim chairman, president and CEO David Field; $850,000 to EVP, strategic initiatives and CFO Richard Schmaeling; $500,000 to EVP and COO Susan Larkin; $250,000 to president, podcast and streaming and chief digital officer J.D. Crowley; and $600,000 to EVP, general counsel and secretary Andrew Sutor IV. These retention awards are intended to be in lieu of an annual bonus with respect to 2023.