Urban One Extends CFO Peter Thompson Through 2029

RADIO ONLINE | Tuesday, June 16, 2026 | 4:55pm CT

Urban One

Urban One has entered into a new employment agreement with Executive Vice President and Chief Financial Officer Peter D. Thompson, extending his tenure with the company through January 6, 2029. The agreement was disclosed in a Form 8-K filing with the Securities and Exchange Commission following the company's June 11 annual shareholders meeting.

Under the new contract, Thompson will continue serving as CFO of Urban One and as Vice President of the company's wholly owned subsidiaries. He will receive an annual base salary of $750,000 and remain eligible for annual performance bonuses of up to $300,000, with the potential to earn as much as 132% of that target based on company and individual performance metrics.

The agreement also includes a one-time signing bonus of $333,333, subject to a prorated clawback if Thompson leaves the company before the contract expires. In addition, he is eligible for significant equity compensation, including grants of Urban One Class D common stock and performance-based stock awards over the four-year term.

A key provision of the agreement provides Thompson the opportunity to earn an $850,000 completion bonus if the material weaknesses identified in Urban One's 2025 Form 10-K are remediated by the end of the contract term or by the filing of the company's 2028 Form 10-K.

Thompson's employment agreement is effective retroactively to January 7, 2025, and runs through January 6, 2029, unless terminated earlier under the terms of the contract. The filing notes that he will continue to be based at Urban One's corporate headquarters in Silver Spring, Maryland.