4-14-15
Townsquare Chairman/CEO Steven Price brought in $450,000 in salary and a $600,000 bonus in 2015, according to a Townsquare Media SEC filing Tuesday. EVP/CFO Stu Rosenstein received $400,000 in salary and a bonus of $600,000. But due to accounting rules related to Townsquare's IPO, their total compensation technically adds up to a great deal more: About $11.1 million for Price and $6.05 million for Rosenstein. The apparent huge jump resulted from the exchange of the executives' previously held incentive shares of Townsquare Media LLC, which were traded for Class B shares of the newly public Townsquare Media Inc.
Breaking it down, Price's stock award is worth $1,385,351, and he also received option to purchase Class B stock worth $8,536,409 -- again, in exchange for previously held Townsquare LLC incentive units. Those amounts, plus "other compensation" of $84,610, brings Price's total compensation for the year up to $11,056,370. His total compensation in 2013, with Townsquare LLC, was $1,069,744.
EVP/CFO Stuart Rosenstein built on his base salary of $400,000 with a $600,000 bonus. His stock grants and options -- granted under the same circumstances as Price's -- added up to $692,670 in Class B stock and $4,268,202 million in options. Other compensation of $84,610 brought his total compensation to $6,045,485 for the year. That's compared to $969,744 in 2013.
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