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Tuesday, November 15, 2011

Radio One's brass accelerates the vesting on nearly a million shares of stock

Radio One From today's TRI Newsletter: This is Radio One Class D stock, and about two thirds of the shares are going to the company’s top five officers. CEO Alfred Liggins gets a full third of the shares – 333,333 out of the 981,665 restricted shares that will now vest almost seven months earlier than planned. Alfred’s mother and the company’s founder and Chair Cathy Hughes is in line for 100,000. CFO Peter Thompson and Chief Administrative Officer Linda Vilardo get 75,000 each. Radio Division President Barry Mayo gets 43,333 shares. The balance of 354,999 shares goes to other “key” employees defined under the 2009 Long Term Incentive Plan. Radio One discloses the accelerated vesting in an SEC filing, but doesn’t explain why it’s happening. The original plan was to vest in equal one-third segments, on June 5 of 2010, 2011 and 2012. What just happened was that the compensation committee approved moving up the 2012 grant to this Saturday, November 19. Subscribe to the daily TRI Newsletter, or any of the other newsletters from Radio-Info.com, at no charge - here.

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