Sirius XM signed a new employment agreement Monday...
Sirius XM signed a new employment agreement Monday with Scott Greenstein that will keep him on as president and chief content officer for at least another three years, said the company in an 8-K SEC filing. He will continue getting…
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$1.25 million in annual base salary and qualify for yearly target bonuses equaling 150 percent of his base pay, the filing said. If Greenstein is terminated, he'll qualify for a lump-sum severance payment equaling his base pay plus the last bonus he received, the filing said. The company also granted Greenstein the option to buy Sirius XM shares worth $6.5 million and restricted stock units (RSUs) worth $1 million, the filing said. The stock option will vest in three equal yearly installments and the RSUs will vest on July 22, 2016, when the employment agreement is due to expire, it said.