Paul Brenner is now an executive officer of Emmis Communications. He is president of TagStation, NextRadio and the Broadcaster Traffic Consortium.
His employment agreement began March 6, 2016 and continues through Feb. 28, 2019, according to a document filed with the SEC after the Emmis board of director’s meeting last week. The board approved a salary of $400,000 a year for the remainder of the fiscal year which ends Feb. 28, 2017 “and will increase, if at all, each fiscal year thereafter by an amount equal to the percentage increase for the company’s corporate merit pool,” according to the filing.
However, like other executive officers, Brenner agreed to a five% reduction in his base salary for calendar 2016. Up to 10% of his base salary may be paid in shares of Class A common stock.
His annual incentive bonus target is the greater of 50% of his base salary based on meeting certain performance goals, or a percentage of the TagStation/NextRadio revenue. The company can pay an annual incentive bonus in cash or shares of Class A common stock.
Brenner joined Emmis from IT consulting firm DataShare Corporation in 1998.