Money-losing measurement company comScore agreed to pay a $875,000 signing bonus to Sarah Hofstetter, who is joining comScore as president effective Oct. 4.
According to documents filed with the Securities & Exchange Commission, Hofstetter will receive an annual base salary of at least $450,000 under a three-year deal.
As part of the company’s compensation program she will be eligible to get annual incentive awards equal to 75% of her base salary. For 2018, she will be eligible for a one-time discretionary bonus with a guarantee of $850,000.
Hofestter will also participate in a long-term equity incentive program with an annual target opportunity of at least $2 million.
In the second quarter, comScore reported that its losses had widened to $56 million
The losses followed three years in which the company was focused on a re-audit required after accounting issues were found in its financial statements. During that period, comScore spent millions on the re-audit and to settle litigation.
It was unable to release earnings information, was delisted from the NASDAQ stock exchange, key executives departed and there were delays in releasing new products that might have helped it compete with Nielsen, which dominates the measurement business.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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