Entravision Announces Executive Compensation Revisions

RADIO ONLINE | Monday, April 7, 2025 | 5:20pm CT

Entravision Communications Corporation (EVC)

Entravision Communications Corporation (EVC) has revealed substantial changes to its executive compensation strategy, placing a stronger emphasis on equity-based incentives. This strategic pivot comes alongside a flurry of stock transactions by key executives, signaling a notable shift in the company's approach to aligning the interests of its leadership with those of its shareholders.

In an 8-K filing, Entravision announced that its Compensation Committee has enacted significant modifications to the executive compensation program for the fiscal year 2025. This reform includes a reduction in cash compensation and an increase in equity incentives through restricted stock units (RSUs) and performance stock units (PSUs).

Michael Christenson, CEO, Jeffery Liberman, President and COO, and Mark Boelke, CFO, have seen cuts in their base salaries by 47%, 38%, and 25% respectively, compared to their 2024 salaries. In line with these reductions, the cash bonuses under the company's Executive Cash Incentive Bonus Plan have been eliminated for these executives for 2025. Instead, they have been granted increased annual equity awards, which surpassed the total value of awards given in the previous fiscal year.

Parallel to the changes in compensation, several Entravision executives have been actively involved in stock transactions as per multiple Form 4 filings. Notably, CEO Michael Christenson acquired 960,000 RSUs, which are set to vest incrementally through December 2028. This grant is part of a broader package that includes 745,000 PSUs, contingent on company performance criteria.

Similarly, President and COO Jeffery Liberman was awarded 300,000 RSUs, with the same vesting schedule. His holdings following these transactions total 581,762 shares directly, with an additional 401,095 shares held indirectly through a family trust.

CFO Mark Boelke also received 300,000 RSUs, increasing his direct holdings to 691,573 shares. Other executives, including Juan Navarro, Chief Revenue Officer, and William J. McNally, Chief Accounting Officer, participated in the stock transactions, underscoring a broad commitment from Entravision's upper echelon to invest in the company's long-term success.

This realignment in compensation practices is anticipated to enhance Entravision's governance standards by closely tying executive rewards to the company's performance and shareholder returns. The shift towards equity-based compensation is designed to ensure that executive interests are more closely aligned with the long-term goals of shareholders, potentially fostering greater corporate accountability and performance.