According to an SEC filing made by Urban One on Thursday (10/5), Karen Wishart‘s first day at the media company superserving African American consumers was Monday.
Wishart’s title is EVP, and she is set to take on duties presently held by Chief Administrative Officer Linda Vilardo.
Vilardo’s last day of employment is Dec. 31, and until then Wishart and Vilardo will work together to transition duties “in an effective manner.”
For reporting purposes, Wishart on Jan. 1, 2018 will become a named executive officer of the company.
What is Wishart set to earn?
She’s entitled to a base salary payable at the annualized rate of $425,000 per year and, effective for the calendar year beginning Jan. 1, 2018, is eligible for a bonus of $150,000, approximately 38% of which will be paid on a personal performance basis, and another approximately 38% of which will be paid based on Urban One’s performance. The remaining balance will be paid in accordance with certain cost savings targets in Wishart’s areas of responsibility.
Wishart will also receive an equity grant of 37,500 shares of Urban One Class D common stock, as well as a grant of options to purchase an additional 37,500 shares.
The grants will vest in equal increments on each of Oct. 2, 2018; Oct. 2, 2019; and Oct. 2, 2020.