Townsquare Media will hold its annual shareholders meeting on May 31, and key business is focused on the re-election of Stephen Kaplan, an Advisory Partner of Oaktree Capital Management, to the company’s Board of Directors.
Shareholders will also have the opportunity to ratify the appointment of RSM US LLP as Townsquare’s independent registered public accounting firm for 2017.
What isn’t up for a vote is executive compensation, although Townsquare did provide details on how much its three top leaders earned in 2014, 2015 and 2016.
Steven Price, who serves as Townsquare’s Chairman/CEO, saw his base salary jump from $450,000 in 2014 to $575,000 in 2015. In 2016, Price’s base salary increased to $750,000.
With a lower bonus of $425,000 — compared to $573,000 in 2015 and $600,000 in 2014 — Price largely benefited from $1.47 million in option awards and $84,457 in “other compensation.”
This put Price’s total 2016 compensation at $2.73 million — roughly $1.1 million more than in 2015.
But, it’s still a bit lower than the $11.06 million Price pocketed in 2014, thanks to $8.54 million in option awards cashed in by the executive.
Townsquare EVP/CFO Stuart Rosenstein also enjoyed a big 2014, thanks to option awards. For 2016, Rosenstein’s base salary jumped from $525,000 to $700,000. While that increased, his bonus dipped from $571,345 to $425,000. Thanks to option awards and “other compensation,” Rosenstein’s total compensation for 2016 was $2.11 million. This compares to $1.6 million in 2015, and $6.05 million in 2014.
Lastly, EVP/Chief Content and Digital Officer Bill Wilson again saw the biggest base salary of the three top Townsquare execs. His 2016 base pay was $850,000 — up from $783,000 in 2015 and $650,000 in 2014.
In 2016, Wilson saw a nice bonus of $450,000 — also bigger than that awarded to Rosenstein or Price. However, Wilson has less to account for in stock option awards and “other compensation.” Wilson’s take-home in 2016: $1.85 million. That compares to $1.64 million in 2015 and $3.7 million in 2014, when $2.13 million in options were cashed in.