Juan A. Garcia Named EVP At Spanish Broadcasting System
February 18, 2016 at 3:49 AM (PT)
SPANISH BROADCASTING SYSTEM has named JUAN A. GARCIA as EVP. GARCIA worked for SBS as VP/Finance and Strategic Planning in 2000 after a stint as VP at LEHMAN BROTHERS; SBS describes GARCIA's duties as including "developing and executing refinancing strategies for the Company."
GARCIA is receiving non-qualified 10-year stock options to buy 75,000 shares of SBS Class A Common Stock, with 25,000 shares vesting each year for three years at $2.99 per share. The options will automatically vest if GARCIA is fired without cause or resigns after a change in control of the company.