Radio One's Top Managers Didn't Get Bonuses For Fiscal 2014
April 27, 2015 at 3:30 AM (PT)
The proxy statement filed by RADIO ONE on THURSDAY (4/23) at the SEC indicates that like CUMULUS (NET NEWS 4/22), RADIO ONE did not approve bonuses for the company's managers for fiscal 2014.
Chair/Secretary CATHY HUGHES, her son, CEO ALFRED LIGGINS III, EVP/CFO PETER THOMPSON, VP/Chief Administration Officer/Assistant Secretary LINDA VILARDO, and Radio Division Pres. CHRISTOPHER WEGMANN did not receive non-equity incentive bonuses for the year.
The filing stated, "Upon recommendation of the CEO, the compensation committee determined that it was in the best interest of the Company not to pay bonuses at the corporate level given overall operational and financial performance for the year ended DECEMBER 31, 2st014. Thus, none of the Chairperson, the CEO, the CFO, the CAO or the PRD received performance-based annual bonus compensation for the year ended DECEMBER 31st, 2014."
The filing also indicated that HUGHES and LIGGINS has yet to sign renewals with the company and are employed under the terms in his previous expired contract. The other three top officers received new deals including increases in salary and bonus levels.