CEO Mary Berner was paid $4,655,794 in fiscal year 2024, ↑ up 2.9% from fiscal year 2023, the 38th percentile of its disclosed peer group (SEC filing 0001104659-25-038958 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
$4,655,794 ↑ Mary Berner total, FY2024 | 38th CEO pay percentile vs peers | — CEO-to-median pay ratio | 88.7% Say-on-pay support, latest vote |
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| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Mary Berner | $1,450,000 | $0 | $1,743,751 | $0 | $1,458,593 | $0 | $3,450 | $4,655,794 |
| President and Chief Executive Officer | ||||||||
| Francisco Lopez-Balboa | 800,000 | 0 | 868,000 | 0 | 821,784 | 0 | 3,742 | 2,493,526 |
| Executive Vice President, Treasurer and Chief Financial Officer | ||||||||
| Collin Jones | 650,000 | 0 | 276,285 | 0 | 480,885 | 0 | 5,175 | 1,412,345 |
| Executive Vice President, Corporate Strategy and Development and President of Westwood One | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2024 total | FY2023 total | FY2022 total | Δ FY2023→2024 |
|---|---|---|---|---|
| Mary Berner | $4,655,794 | $4,523,596 | — | ↑ +132,198 |
| Francisco Lopez-Balboa | 2,493,526 | 2,415,933 | — | ↑ +77,593 |
| Collin Jones | 1,412,345 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Each company listed discloses CMLS in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named CMLS in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Francisco Lopez-Balboa | PSU | 63,427 | — | $42,496 |
| Mary Berner | RSU | 38,150 | — | 25,561 |
| Collin Jones | PSU | 13,676 | — | 9,163 |
| Mary Berner | PSU | 148,657 | — | 99,600 |
| Mary Berner | RSU | 55,270 | — | 37,031 |
| Francisco Lopez-Balboa | PSU | 35,610 | — | 23,859 |
| Collin Jones | RSU | 56,985 | — | 38,180 |
| Collin Jones | RSU | 9,351 | — | 6,265 |
| Mary Berner | PSU | 55,270 | — | 37,031 |
| Francisco Lopez-Balboa | RSU | 89,026 | — | 59,647 |
| Francisco Lopez-Balboa | RSU | 158,568 | — | 106,241 |
| Collin Jones | RSU | 32,164 | — | 21,550 |
| Mary Berner | RSU | 297,315 | — | 199,201 |
| Mary Berner | RSU | 167,139 | — | 111,983 |
| Francisco Lopez-Balboa | RSU | 29,510 | — | 19,772 |
| Francisco Lopez-Balboa | PSU | 7,000 | — | 4,690 |
| Mary Berner | PSU | 83,569 | — | 55,991 |
| Mary Berner | PSU | 12,650 | — | 8,476 |
| Francisco Lopez-Balboa | PSU | 29,510 | — | 19,772 |
| Francisco Lopez-Balboa | RSU | 21,050 | — | 14,104 |
| Collin Jones | PSU | 9,351 | — | 6,265 |
| Collin Jones | PSU | 1,875 | — | 1,256 |
| Collin Jones | PSU | 7,719 | — | 5,172 |
| Collin Jones | RSU | 5,625 | — | 3,769 |
The Company's executive compensation program emphasizes rewarding exceptional performance and driving value creation for stockholders by aligning executive interests with stockholder interests, motivating superior short- and long-term performance, and attracting and retaining executive talent through a combination of fixed and variable pay elements.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Frederic W. Cook & Co., Inc. |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2025 | 2025-05-30 | 8,751,021 | 1,115,170 | 580,810 | 88.7% | Passed |
| 2024 | 2024-05-02 | 3,635,051 | 6,742,340 | 16,645 | 35.03% | Failed |
| 2023 | 2023-04-26 | 6,710,589 | 6,135,879 | 19,042 | 52.24% | Passed |
| 2022 | 2022-05-03 | 10,077,530 | 821,100 | 1,673,125 | 92.47% | Passed |
| 2021 | 2021-05-04 | 10,246,088 | 845,549 | 4,723 | 92.38% | Passed |
| 2020 | 2020-04-30 | 10,557,154 | 2,897,459 | 307,888 | 78.46% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2025 | 2025-05-30 | 88.7%a |
| 2024 | 2024-05-02 | 35.03%b |
| 2023 | 2023-04-26 | 52.24%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Voting standard not stated in the filing.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Andrew W. HobsonIndependent · Board Chair | $165,000 | $180,491 | $0 | — | $0 | $345,491 |
| Brian G. KushnerIndependent · Audit (Chair) | 125,000 | 100,000 | 0 | — | 0 | 225,000 |
| Joan Hogan GillmanIndependent | 115,000 | 100,000 | 0 | — | 0 | 215,000 |
| Thomas H. CastroIndependent · Audit | 100,000 | 100,000 | 0 | — | 0 | 200,000 |
| Deborah A. FarringtonIndependent · Audit | 100,000 | 100,000 | 0 | — | 0 | 200,000 |
| Matthew C. BlankIndependent · Not standing for re-election | 100,000 | 100,000 | 0 | — | 0 | 200,000 |
| Mary G. BernerEmployee director | — | — | — | — | — | 0 |
| Steven M. GalbraithIndependent · Compensation (Chair) · Newly elected | — | — | — | — | — | — |
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | $100,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 25,000 / 25,000 / 15,000 |
| Stock ownership guideline | $3 |
| Component | FY2024 |
|---|---|
| Cash retainers and fees | $705,000 |
| Equity awards (grant-date value) | $680,491 |
| All other compensation | $0 |
| Total cost of the board | $1,385,491 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Cumulus Media names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Cumulus Media.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | fuboTV Inc. | 2025 | David Gandler | $1,180,300 | $7,901,641 | $0 | $1,643,309 | $10,886,885 |
| 2 | The E.W. Scripps Co. | 2025 | Adam Symson | 1,350,000 | 3,945,077 | 0 | 1,792,125 | 7,239,619 |
| 3 | QuinStreet, Inc. | 2026 | Douglas Valenti | 604,750 | 6,156,000 | 0 | 0 | 6,760,750 |
| 4 | Thryv Holdings, Inc. | 2025 | Joseph Walsh | 1,060,900 | 3,000,000 | 0 | 1,157,442 | 5,259,837 |
| 5 | The Marcus Corporation | 2025 | Gregory Marcus | 970,096 | 2,047,408 | — | 1,058,032 | 4,840,339 |
| 6 | Cumulus Media | 2024 | Mary Berner | 1,450,000 | 1,743,751 | 0 | 1,458,593 | 4,655,794 |
| 7 | Entravision Communications Corporation | 2025 | Michael Christenson | 500,000 | 3,591,263 | 0 | 0 | 4,098,934 |
| 8 | comScore, Inc. | 2025 | Jon Carpenter | 600,000 | 0 | 0 | 248,460 | 1,324,956 |
| 9 | Lee Enterprises Incorporated | 2025 | Kevin Mowbray | 830,753 | 274,832 | 29,168 | 0 | 1,151,667 |
| — | WideOpenWest, Inc. | — | — | — | — | — | — | not in coverage universe |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Cumulus Media | not disclosed | RSU 50 · CPU 30 · PRSU 20 | not disclosed | Frederic W. Cook & Co., Inc. |
| comScore, Inc. | not disclosed | not disclosed | not disclosed | Meridian Compensation Partners, LLC |
| Entravision Communications Corporation | not disclosed | not disclosed | not disclosed | Frederic W. Cook & Co., Inc. |
| fuboTV Inc. | 116% | not disclosed | No | Pay Governance |
| Lee Enterprises Incorporated | not disclosed | RSU 100 | not disclosed | Korn Ferry |
| QuinStreet, Inc. | not disclosed | RSU 50 · PSU 50 | No | Compensia |
| The E.W. Scripps Co. | 88.5% | PSU 60 · RSU 40 | No | Korn Ferry |
| The Marcus Corporation | not disclosed | not disclosed | No | Willis Towers Watson |
| Thryv Holdings, Inc. | 100.0% | PSU 60 · RSU 40 | Yes — Relative Total Shareholder Return (rTSR) | Lyons Benenson |
| WideOpenWest, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Mary Berner | DEF 14A | 2025-04-25 | 0001104659-25-038958 | Section “Executive Compensation”. As printed: 4,655,794. Filing ↗machine: r1 · c48 · span 498440–498449 |
| 2 | Section 01, Francisco Lopez-Balboa | DEF 14A | 2025-04-25 | 0001104659-25-038958 | Section “Executive Compensation”. As printed: 2,493,526. Filing ↗machine: r3 · c48 · span 508947–508956 |
| 3 | Section 01, Collin Jones | DEF 14A | 2025-04-25 | 0001104659-25-038958 | Section “Executive Compensation”. As printed: 1,412,345. Filing ↗machine: r5 · c48 · span 519502–519511 |
| 4 | Section 08, Andrew W. Hobson | DEF 14A | — | — | Section “Director Compensation”. As printed: 345,491. |
| 5 | Section 08, Brian G. Kushner | DEF 14A | 2025-04-25 | 0001104659-25-038958 | Section “Director Compensation”. As printed: 225,000. Filing ↗machine: span 916069–916076 |
| 6 | Section 08, Joan Hogan Gillman | DEF 14A | — | — | Section “Director Compensation”. As printed: 215,000. |
| 7 | Section 08, Thomas H. Castro | DEF 14A | — | — | Section “Director Compensation”. As printed: 200,000. |
| 8 | Section 08, Deborah A. Farrington | DEF 14A | — | — | Section “Director Compensation”. As printed: 200,000. |
| 9 | Section 08, Matthew C. Blank | DEF 14A | 2025-04-25 | 0001104659-25-038958 | Section “Director Compensation”. As printed: 200,000. Filing ↗machine: span 894579–894586 |
| 10 | Section 08, Mary G. Berner | DEF 14A | 2025-04-25 | 0001104659-25-038958 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 11 | Section 08, Steven M. Galbraith | DEF 14A | — | — | Section “Director Compensation”. As printed: —. |
| 12 | Section 06, 2025 vote | Form 8-K | 2025-05-30 | 0001058623-25-000046 | Item 5.07 · say-on-pay result. As reported: 88.7% (votes for as printed: 8,751,021). Filing ↗ |
| 13 | Section 06, 2024 vote | Form 8-K | 2024-05-02 | 0001058623-24-000069 | Item 5.07 · say-on-pay result. As reported: 35.03% (votes for as printed: 3,635,051). Filing ↗ |
| 14 | Section 06, 2023 vote | Form 8-K | 2023-04-27 | 0001058623-23-000050 | Item 5.07 · say-on-pay result. As reported: 52.24% (votes for as printed: 6,710,589). Filing ↗ |
| 15 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 16 | Section 09b board cost (computed) | Computed | — | — | Cash 705,000 + equity 680,491 + all other 0 = 1,385,491, summed across the director compensation table rows.machine: formula: Σ = 1,385,491 |
| 17 | fuboTV Inc., Section 10b CEO total | DEF 14A | 2026-06-16 | 0001628280-26-043532 | CEO total compensation as printed in fuboTV Inc.'s own proxy. As printed: 10,886,885. Filing ↗ |
| 18 | The E.W. Scripps Co., Section 10b CEO total | DEF 14A | 2026-03-20 | 0001193125-26-116733 | CEO total compensation as printed in The E.W. Scripps Co.'s own proxy. As printed: 7,239,619. Filing ↗machine: t83 · r4 · c16 · span 1340909–1340918 |
| 19 | QuinStreet, Inc., Section 10b CEO total | DEF 14A | 2026-09-16 | 0002077096-26-000254 | CEO total compensation as printed in QuinStreet, Inc.'s own proxy. As printed: 6,760,750. Filing ↗machine: r1 · c12 · span 1106011–1106020 |
| 20 | Thryv Holdings, Inc., Section 10b CEO total | DEF 14A | 2026-04-30 | 0001556739-26-000029 | CEO total compensation as printed in Thryv Holdings, Inc.'s own proxy. As printed: 5,259,837. Filing ↗machine: r4 · c36 · span 694066–694075 |
| 21 | The Marcus Corporation, Section 10b CEO total | DEF 14A | 2026-04-07 | 0000062234-26-000018 | CEO total compensation as printed in The Marcus Corporation's own proxy. As printed: 4,840,339. Filing ↗machine: span 455443–455452 |
| 22 | Cumulus Media (subject), Section 10b CEO total | DEF 14A | 2025-04-25 | 0001104659-25-038958 | CEO total compensation as printed in Cumulus Media's own proxy. As printed: 4,655,794. Filing ↗machine: r1 · c48 · span 498440–498449 |
| 23 | Entravision Communications Corporation, Section 10b CEO total | DEF 14A | 2026-04-20 | 0001193125-26-164200 | CEO total compensation as printed in Entravision Communications Corporation's own proxy. As printed: 4,098,934. Filing ↗machine: r2 · c32 · span 692451–692460 |
| 24 | comScore, Inc., Section 10b CEO total | DEF 14A | 2026-04-30 | 0001193125-26-197109 | CEO total compensation as printed in comScore, Inc.'s own proxy. As printed: 1,324,956. Filing ↗machine: r2 · c23 · span 246182–246191 |
| 25 | Lee Enterprises Incorporated, Section 10b CEO total | DEF 14A | 2026-03-05 | 0000058361-26-000024 | CEO total compensation as printed in Lee Enterprises Incorporated's own proxy. As printed: 1,151,667. Filing ↗machine: r3 · c21 · span 422187–422197 |
| 26 | Section 10a, Lee Enterprises Incorporated reciprocity | DEF 14A | — | 0001628280-25-001707 | Lee Enterprises Incorporated's most recent proxy was read; its disclosed peer group does not include Cumulus Media. Filing ↗ |
| 27 | Section 10a, Entravision Communications Corporation reciprocity | DEF 14A | — | 0001193125-26-164200 | Entravision Communications Corporation names Cumulus Media in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 28 | Section 10a, QuinStreet, Inc. reciprocity | DEF 14A | — | 0002077096-26-000254 | QuinStreet, Inc.'s most recent proxy was read; its disclosed peer group does not include Cumulus Media. Filing ↗ |
| 29 | Section 10a, The Marcus Corporation reciprocity | DEF 14A | — | 0000062234-26-000018 | The Marcus Corporation's most recent proxy was read; its disclosed peer group does not include Cumulus Media. Filing ↗ |
| 30 | Section 10a, Thryv Holdings, Inc. reciprocity | DEF 14A | — | 0001556739-26-000029 | Thryv Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Cumulus Media. Filing ↗ |
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