Communication Services
Entertainment
$7.29B
22K
Key insights and themes extracted from this filing
The Board established the Office of the CEO, comprised of Messrs. McCarthy, Cheeks and Robbins, effective May 1, 2024, with Mr. McCarthy designated as interim principal executive officer. This structure was implemented to ensure consistent leadership during a period of pending transactions.
To ensure consistent leadership, each Co-CEO received a special LTIP grant of TRSUs having a grant date value of $3 million. These TRSUs were generally scheduled to vest in equal annual installments on the first three anniversaries of the date of grant.
The Committee considered actions to mitigate or eliminate the 280G Impact on our 2024 FYE NEOs and the Company and approved several measures. These included immediate vesting and settlement of TRSUs and PSUs for Co-CEOs, and immediate vesting and settlement of TRSUs for other FYE NEOs.