Item 5.02. Departure of Directors of Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On August 23, 2012, in connection with the closing of the sale of radio station
KXOS-FM, Los Angeles, California, the Compensation Committee of the Board of
Directors of Emmis Communications Corporation ("Emmis") approved the payment of
special transaction bonuses in the aggregate amount of $2.8 million. These
bonuses will be recognized in the quarter ending August 31, 2012 and consist of:
(i) the payment of $1,000 to each full time employee and $250 to each part time
employee, and (ii) the payment of unpaid amounts under Emmis' fiscal 2012
corporate incentive plan, including $618,750, $394,467, and $112,500,
respectively, to Jeffrey H. Smulyan, Patrick M. Walsh and J. Scott Enright.
Add
EMMS to Portfolio
Set Alert
Email to a
Friend