With its shares trading on the OTC Pink sheet at just under 8 cents apiece and awaiting a reverse stock split, Audacy Inc. has revealed to the Securities and Exchange Commission that it has entered into a retention letter agreement with each of its named executive officers.
What does this mean? Instead of annual bonuses, the fiscally challenged audio content creation and distribution company will be giving cash-based retention bonus awards of varying amounts to the top C-Suite and market-level leaders at Audacy.
