Company: EVC
Filing Date: 2025-06-02
Form Type: 8-K
Source: 0000950170-25-080007
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Company: ENTRAVISION COMMUNICATIONS CORP
Filing Date: 2025-06-02
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) On May 28, 2025, Entravision Communications Corporation (the "Company") entered into an executive compensation letter agreement with Juan Navarro (the "Compensation Letter"), pursuant to which he will continue to serve as the Company’s Chief Revenue Officer. This agreement replaces an employment agreement which was effective as of December 22, 2023.

The Compensation Letter provides for an initial base salary of $400,000 per year. Mr. Navarro is eligible to receive a target annual bonus equal to 60% of his base salary, determined in accordance with the Company’s Executive Cash Incentive Bonus Plan (the "Cash Plan"), and is also eligible for equity incentive grants under the Company’s equity incentive plans. Mr. Navarro is not a “covered executive” under the Cash Plan for fiscal year 2025, such that he will not receive a 2025 cash bonus under the Cash Plan.

Additionally, on May 28, 2025, the Company entered into a participation agreement with Mr. Navarro (the "Participation Agreement"), pursuant to which Mr. Navarro agrees to participate in the Company's previously-adopted Executive Severance and Change in Control Plan (the "Severance Plan") as a Group II executive. The Participation Agreement provides that, notwithstanding the language of the Severance Plan, if Mr. Navarro experiences a qualifying termination under the Severance Plan prior to December 31, 2026, then, solely for purposes of calculating severance payments under the Severance Plan, he will be deemed a “covered executive” for the year of termination under the Cash Plan.

The foregoing descriptions do not purport to be complete and are subject to, and qualified in their entirety by reference to, the full text of the Compensation Letter and the Participation Agreement, copies of which are attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively, and incorporated herein by reference.