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 to
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.
Lucid, Bose, Samsung and Xbox, as well as on the TuneIn mobile app and TuneIn.com. The agreement also gives Audacy access to TuneIn’s advertising supply and brings select TuneIn original content to the Audacy digital platform. Audacy chief digital officer J.D. Crowley 
comments, “Streaming of AM/FM Radio is one of the fastest growing segments of all digital audio today. As consumer demand for Audacy’s best-in-class local audio content continues to increase, we’re committed to meeting the listener wherever they wish to consume, and we’re delighted to expand the availability of our unique live sports, news, and personality-driven audio content to over 200 new TuneIn-supported platforms. We’re equally thrilled to welcome TuneIn’s premium exclusive content to the Audacy digital platform.”
and news in the growth and development of new original podcast content for podcast studio 2400Sports and across Audacy’s 28 local newsrooms in top U.S. markets. Audacy chief digital officer and president, podcast and streaming J.D. Crowley says, “As we commit to accelerating our digital growth and enhancing performance, we’re thrilled to expand Jenna’s role to further unify and streamline our content and business efforts across our leading podcast portfolio, enabling even more rapid development of new and original IP and better leveraging our talent across the entire Audacy portfolio. Jenna’s strong leadership and deep industry relationships will propel us forward on our mission to be a leading partner of audio creators, while super-serving listeners of all backgrounds and interests and enabling our sales teams to better serve our customers and partners with unique and compelling podcast opportunities.”