On Oct. 16, 2017, Townsquare Media‘s leadership saw a significant shift in direction.
Steven Price, the company’s founder/CEO, relinquished his day-to-day duties and transitioned to the role of Executive Chairman of the Board. Concurrently, two co-CEOs were named.
One of those co-CEOs just got a healthy bump in his base salary and is making far more than he did in 2015.
In an SEC filing made Thursday (5/3), Townsquare Media revealed that Bill Wilson, who was previously EVP/Chief Content & Digital Officer at the company, on April 27 entered into a new agreement that amends his employment terms with Townsquare.
The result: Wilson’s base salary has increased to $1 million, from $858,147.
Wilson’s new contract also states that his annual bonus in 2018 and 2019 “will not be less than his target opportunity.”
Wilson received a $500,000 bonus in 2017, along with $33,814 in all other compensation. This brings his total paycheck to $1,391,961.
Interestingly, Wilson’s base salary has been on the rise since 2014. But, his total pay dipped in 2017 from 2016.
His 2016 base pay was $850,000 — up from $783,000 in 2015 and $650,000 in 2014.
In 2016, Wilson saw a nice bonus of $450,000 — also bigger than that awarded to Rosenstein or Price. However, Wilson has less to account for in stock option awards and “other compensation.” Wilson’s take-home in 2016: $1.85 million. That compares to $1.64 million in 2015 and $3.7 million in 2014, when $2.13 million in options were cashed in.
The news regarding Wilson’s raise comes as Townsquare prepares to release its Q1 2018 financial results early Tuesday (5/8). An 8am Eastern conference call with financial analysts is scheduled.
Meanwhile, Townsquare stock was down by roughly 3% in mid-morning trading on Thursday, pushing shares to $7.20. It has been a difficult 30 days for TSQ, with its shares falling below the critical $7 level in February.
