Form 4: PodcastOne Director James Berk Receives 75,071 Restricted Stock Units as Board Fees

Director James Berk was granted 75,071 restricted stock units (RSUs) as compensation for his service on the PodcastOne board.

Summary

• James Berk, a director at PodcastOne, Inc., received 75,071 restricted stock units (RSUs) as compensation for his board service.
• These RSUs were granted for his service from January 23, 2023, to September 30, 2024.
• The RSUs will vest on January 31, 2025, contingent upon Mr. Berk's continued service on the board.
• Each RSU represents the right to receive one share of PodcastOne's common stock or its cash equivalent.
• The form of payout, whether cash or stock, will be determined by the board at its discretion.
• Mr. Berk has the option to defer the settlement of the RSUs until he is no longer on the board or up to five years from the vesting date.

Sentiment

Score: 7

Explanation: The document reflects a standard compensation practice, indicating stability and alignment of interests. It is a neutral event with positive implications for director engagement.

Positives

• The grant of RSUs aligns director compensation with the company's performance and shareholder value.
• The vesting schedule encourages continued service from the director.

Risks

• The value of the RSUs is dependent on the future stock price of PodcastOne.
• The board has discretion over the form of payout, which could impact the value received by Mr. Berk.

Future Outlook

The RSUs will vest on January 31, 2025, contingent on continued board service, and the payout form will be determined by the board.

Industry Context

This is a standard practice for compensating board members in publicly traded companies, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Granting restricted stock units to board members is a common practice among publicly listed companies.
• The vesting period of approximately 1 year is typical for such grants.
• Companies like Spotify and SiriusXM also use equity-based compensation for their board members, though the specific terms and amounts vary based on company size and performance.

Stakeholder Impact

• Shareholders may view this as a positive sign of aligning director interests with company performance.
• Employees may see this as a standard practice for board compensation.

Next Steps

• The RSUs will vest on January 31, 2025, if Mr. Berk continues to serve on the board.
• The board will determine the form of payout for the RSUs.

Key Dates

Keywords

Restricted Stock Units, RSUs, Director Compensation, Board of Directors, Equity Incentive Plan, PodcastOne, PODC, James Berk