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Thunderbird Entertainment Group has announced several equity compensation updates. The company granted 143,317 restricted share units (RSUs) to non-executive directors, vesting on December 14, 2024, and 171,606 RSUs to executive management, vesting over three years. Additionally, 400,412 performance share units (PSUs) were granted to executive management, subject to performance targets and one-year vesting. CEO Jennifer Twiner McCarron’s compensation has been restructured, eliminating guaranteed bonuses in favor of performance-based incentives tied to AEBITDA targets and strategic objectives, effective July 1, 2024.
Thunderbird Entertainment Group ha annunciato diversi aggiornamenti riguardanti la compensazione azionaria. L’azienda ha concesso 143.317 unità di azioni vincolate (RSU) ai direttori non esecutivi, che matureranno il 14 dicembre 2024, e 171.606 RSU alla dirigenza esecutiva, con maturazione su un periodo di tre anni. Inoltre, sono state concesse 400.412 unità di azioni legate alla performance (PSU) alla dirigenza esecutiva, soggette a obiettivi di performance e a un periodo di maturazione di un anno. La compensazione della CEO Jennifer Twiner McCarron è stata ristrutturata, eliminando i bonus garantiti a favore di incentivi basati sulla performance legati agli obiettivi di AEBITDA e strategici, con effetto dal 1 luglio 2024.
Thunderbird Entertainment Group ha anunciado varias actualizaciones sobre la compensación en acciones. La compañía otorgó 143,317 unidades de acciones restringidas (RSUs) a directores no ejecutivos, que se otorgarán el 14 de diciembre de 2024, y 171,606 RSUs a la alta dirección, que se otorgarán durante tres años. Además, se otorgaron 400,412 unidades de acciones de rendimiento (PSUs) a la alta dirección, sujetas a objetivos de rendimiento y un período de consolidación de un año. La compensación de la CEO Jennifer Twiner McCarron ha sido reestructurada, eliminando bonificaciones garantizadas a favor de incentivos basados en el rendimiento vinculados a objetivos de AEBITDA y objetivos estratégicos, a partir del 1 de julio de 2024.
Thunderbird Entertainment Group는 여러 주식 보상 업데이트를 발표했습니다. 이 회사는 비상임 이사에게 143,317개의 제한 주식 단위(RSU)를 부여했으며, 이는 2024년 12월 14일에 확정됩니다. 또한, 경영진에게는 171,606개의 RSU가 부여되며, 3년에 걸쳐 발생합니다. 추가로, 경영진에게 400,412개의 성과 주식 단위(PSU)가 부여되었고, 이는 성과 목표에 따라 결정되며 1년의 발생 기간이 있습니다. CEO인 Jennifer Twiner McCarron의 보상은 구조조정되어 보장된 보너스가 중단되고 AEBITDA 목표와 전략적 목표에 연계된 성과 기반 인센티브로 바뀌었습니다. 이는 2024년 7월 1일부터 시행됩니다.
Thunderbird Entertainment Group a annoncé plusieurs mises à jour concernant la compensation en actions. La société a accordé 143 317 unités d’actions restreintes (RSUs) à des directeurs non exécutifs, qui seront acquises le 14 décembre 2024, et 171 606 RSUs à la direction exécutive, qui seront acquises sur une période de trois ans. De plus, 400 412 unités d’actions de performance (PSUs) ont été attribuées à la direction exécutive, soumises à des objectifs de performance et à une période d’acquisition d’un an. La compensation de la PDG Jennifer Twiner McCarron a été restructurée, supprimant les bonus garantis au profit d’incitations basées sur la performance liées aux objectifs d’AEBITDA et aux objectifs stratégiques, à compter du 1er juillet 2024.
Die Thunderbird Entertainment Group hat mehrere Aktualisierungen zur Eigenkapitalvergütung bekannt gegeben. Das Unternehmen hat 143.317 eingeschränkte Aktieneinheiten (RSUs) an nicht-executive Direktoren vergeben, die am 14. Dezember 2024 fällig werden, sowie 171.606 RSUs an das Management, die über drei Jahre hinweg fällig werden. Darüber hinaus wurden 400.412 leistungsabhängige Aktieneinheiten (PSUs) an das Management vergeben, die an Leistungsziele gebunden sind und eine einjährige Fälligkeit haben. Die Vergütung von CEO Jennifer Twiner McCarron wurde umstrukturiert, indem garantierte Boni abgeschafft und durch leistungsbasierte Anreize ersetzt wurden, die an AEBITDA-Ziele und strategische Vorgaben gebunden sind, mit Wirkung zum 1. Juli 2024.
Positive
- CEO compensation restructured to be more performance-based, aligning with shareholder interests
- Implementation of performance-based PSUs tied to specific targets for executive management
VANCOUVER, British Columbia–(BUSINESS WIRE)– Thunderbird Entertainment Group Inc. (TSXV: TBRD, OTCQX: THBRF) (“Thunderbird” or the “Company”) has granted an aggregate amount of 143,317 restricted share units (the “RSUs”) to its non-executive directors on November 25, 2024, pursuant to the terms of the Company’s equity incentive compensation plan. The RSUs will vest on December 14, 2024. Each vested RSU entitles the holder thereof to receive one common share of the Company.
The Company also granted an aggregate amount of 171,606 RSUs to certain members of the Company’s executive management team, pursuant to the terms of the Company’s equity incentive compensation plan. The RSUs will vest over three years, and each vested RSU entitles the holder to receive one common share of the Company. Additionally, 400,412 performance share units (“PSUs”) were granted to certain members of the Company’s executive management team, based on certain performance targets to be met. Subject to the satisfaction of such performance targets, the PSUs will vest on the one-year anniversary of the date of the grant. Each vested PSU entitles the holder to receive one common share of the Company (or can be paid out in cash at the discretion of the Company’s board of directors).
Thunderbird Entertainment Inc. (“TEI”), a wholly-owned subsidiary of the Company, has also entered into an Addendum to the Executive Employment Agreement dated July 1, 2021 between TEI and Jennifer Twiner McCarron, the CEO of the Company (the “Addendum”). Under the terms of the Addendum, effective from July 1, 2024, Ms. Twiner McCarron has agreed to forego a guaranteed bonus and has agreed to a bonus structure that ensures eligibility for annual short term incentive payments is driven entirely by performance based on the achievement of AEBITDA targets and strategic objectives established by the Company’s board of directors.
For information on Thunderbird and to subscribe to the Company’s investor list for news updates, go to www.thunderbird.tv.
ABOUT THUNDERBIRD ENTERTAINMENT GROUP
Thunderbird Entertainment Group is a global award-winning, full-service multiplatform production, distribution and rights management company, headquartered in Vancouver, with additional offices in Los Angeles and Ottawa. Thunderbird creates award-winning scripted, unscripted, and animated programming for the world’s leading digital platforms, as well as Canadian and international broadcasters. The Company develops, produces, and distributes animated, factual, and scripted content through its various content arms, including Thunderbird Kids and Family (Atomic Cartoons), Thunderbird Unscripted (Great Pacific Media) and Thunderbird Scripted. Productions under the Thunderbird umbrella include Mermicorno: Starfall, Super Team Canada, Molly of Denali, Highway Thru Hell, Kim’s Convenience, Boot Camp, and Sidelined: The QB and Me. Thunderbird Distribution and Thunderbird Brands manage global media and consumer products rights, respectively, for the Company and select third parties. Thunderbird is on Facebook, Twitter, and Instagram at @tbirdent. For more information, visit: www.thunderbird.tv.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Thunderbird’s public communications may include written, or oral “forward-looking statements” and “forward-looking information” as defined under applicable Canadian securities legislation. Forward-looking statements or information may be identified by words such as “anticipate”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “plan”, “project”, “should”, “believe”, “intend”, or similar expressions concerning matters that are not historical facts. Forward-looking statements in this document include, but are not limited to, statements with respect to the vesting schedule of the RSUs, the PSUs, and the achievement of certain performance objectives relating to Ms. Twiner McCarron’s performance bonus entitlements.
Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; product capability and acceptance; and other factors set out in the “Risk and Uncertainty” section of the Company’s MD&A dated June 30, 2024. The foregoing is not an exhaustive list. Additional risks and uncertainties not presently known to Thunderbird or that management believes to be less significant may also adversely affect the Company.
The forward-looking statements or information contained in this document represent the Company’s views as of the date hereof, and therefore such information should not be relied upon as representing the Company’s views as of any date subsequent to the date of this document. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Readers are therefore cautioned that the foregoing lists of important factors are not exhaustive, and they should not unduly rely on the forward-looking statements included in this news release. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Thunderbird has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241125609691/en/
Investor Relations Contacts:
Glen Akselrod, Bristol Capital
Phone: + 1 905 326 1888 ext 1
Email: glen@bristolir.com
Media Relations Contact:
Lana Castleman, Director, Marketing & Communications
Phone: 416-219-3769
Email: lcastleman@thunderbird.tv
Corporate Communications:
Julia Smith, Finch Media
Email: Julia@finchmedia.net
Source: Thunderbird Entertainment Group Inc.
FAQ
How many RSUs did Thunderbird Entertainment (THBRF) grant to non-executive directors in November 2024?
Thunderbird Entertainment granted 143,317 RSUs to non-executive directors, which will vest on December 14, 2024.
What changes were made to Thunderbird Entertainment’s (THBRF) CEO compensation structure?
Effective July 1, 2024, CEO Jennifer Twiner McCarron’s compensation structure eliminated guaranteed bonuses in favor of performance-based incentives tied to AEBITDA targets and strategic objectives.
How many PSUs did Thunderbird Entertainment (THBRF) grant to executive management?
Thunderbird Entertainment granted 400,412 PSUs to executive management team members, which will vest after one year subject to meeting performance targets.
