Nexstar says it has re-upped with evp and CFO Thomas E. Carter.
Carter started working at Nexstar in 2009. His new contract runs through December 31, 2021 and supersedes he was under until 2018.
“We are grateful to Tom’s value-building contributions and look forward to the continued benefit of his vision and commitment to the Company’s viewers, advertising clients and shareholders,” said Perry A. Sook, Chairman, president and CEO of Nexstar Broadcasting Group. “Tom has been invaluable in our capital market interactions while positioning Nexstar for continued growth with a portfolio of premiere stations and digital assets, a strong balance sheet and an attractive weighted average cost of capital which collectively affords us the financial flexibility to simultaneously allocate free cash flow to reduce leverage, evaluate additional accretive strategic growth investments and expand our return of capital to shareholders.”
Nexstar says “Under the terms of the new employment agreement, Mr. Carter will remain eligible to receive an annual performance-based bonus and is expected to be granted certain equity-based compensation incentives that will continue to align his performance with the interests of all shareholders and the Company’s long-term enhancement of shareholder value.”