Company: EVC
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000950170-25-058293
Chunk: 38

Company: ENTRAVISION COMMUNICATIONS CORP
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 38
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 as well as aligning the interests of our executive officers and other employees with those of our stockholders. We typically grant equity incentive awards to our executive officers and other key employees on an annual basis. We do not use any pre-determined formula in determining the amount of equity incentive grants that are granted to executive officers. We base the amount of equity incentive grants on such considerations as the level of experience and individual performance of such executive officer, the number of stock options or restricted stock units granted to such executive officer in previous grants, and general competitive considerations, including retention of each executive officer. As part of the Compensation Committee’s ongoing review and evaluation of equity incentive compensation, during 2024 the Compensation Committee worked with Frederic Cook to consider market practices regarding forms of equity and typical equity terms. The Compensation Committee also sought the input of our Chief Executive Officer with respect to the appropriate pool of employees who should receive equity incentive grants, the form of performance equity awards, and performance equity goal-setting. The Compensation Committee determined that a 50/50 mix of time-based restricted stock units that vest over four years for retention, and price-contingent equity for achieving four challenging stock price hurdles within five years, would balance the Company’s desire for retention and align performance goals with the interests of our stockholders. The equity mix and performance goals for the performance units were similar, but not identical, to the approach used when the Company hired Mr. Christenson in June 2023. Chief Executive Officer Equity Incentive Awards Our Chief Executive Officer, Mr. Christenson, was not granted an equity award in 2024. In connection with Mr. Christenson’s commencement of employment as our Chief Executive Officer in July 2023, we granted him initial one-time equity awards that were designed to compensate him for service in both 2023 and 2024. The initial equity award was intended to align Mr. Christenson’s compensation with the long-term interests of our stockholders, and to ensure that part of the award was performance-based in recognition of shareholder feedback during outreach. Half of Mr. Christenson’s 2023 new hire equity awards were granted in the form of 1,000,000 performance units that will be earned only if the average closing price of our Class A common stock over 30 consecutive trading days equals or exceeds five specified share price hurdles of $5.75, $7.25, $9.00, $11.20. and $13.75 within five years after grant (with each price hurdle subject to