**Beasley Broadcast Group Announces Changes in Leadership: Lauren Burrows Coleman Appointed as Chief Financial Officer****

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Beasley Broadcast Group Inc. (NASDAQ: BBGI) underwent significant changes in its leadership team as outlined in a recent 8-K form filed with the Securities and Exchange Commission on October 23, 2024.

Marie Tedesco, the Chief Financial Officer and Executive Vice President of the company, has announced her retirement effective November 1, 2024. Following Tedesco’s retirement, the Board of Directors swiftly appointed Lauren Burrows Coleman to take over the role of Chief Financial Officer and Executive Vice President, effective from the same date.

Coleman brings a wealth of experience to her new position, having served as the Global Head of Strategic Corporate and Commercial Finance at Wayfair Inc. from 2022 to 2024, where she oversaw financial planning, corporate, and tax functions globally. Her prior experience includes leadership roles at Wayfair Inc. from 2019 to 2022, WindSail Capital Group LLC from 2014 to 2017, and GE Capital from 2012 to 2014.

The employment agreement with Lauren Burrows Coleman outlines various terms. She is set to receive an annual base salary of $450,000 along with an annual performance-based bonus potentially reaching 100% of her base salary, with a guaranteed minimum bonus of $112,500 each year. Additionally, Coleman will receive a one-time cash sign-on bonus of $150,000 and an additional bonus of $250,000 upon the successful refinancing of the company’s debt by December 31, 2026, among other benefits.

In case of termination, the agreement provides for severance packages based on different scenarios. If Coleman is terminated by the company without cause or resigns for “good reason,” she will receive certain benefits. In the event of a change in control, the severance package will include a lump sum payment equal to 12 months of her annual base salary.

The employment agreement also includes confidentiality provisions and restrictive covenants such as non-competition for six months post-termination and non-solicitation covenants for 12 months post-termination.

Beasley Broadcast Group also disclosed in the same report that a press release was issued on October 23, 2024, announcing the retirement of Marie Tedesco and the appointment of Lauren Burrows Coleman as the new Chief Financial Officer.

The full details of the employment agreement can be found in Exhibit 10.1 attached to the 8-K filing. It is further stipulated in the filing that the information under Item 7.01, including Exhibit 99.1, is not considered filed for purposes of Section 18 of the Securities Exchange Act of 1934 and is not to be incorporated by reference into any registration statement or document under the Securities Act of 1933 or the Exchange Act.

The company filed the required exhibits along with the 8-K form for reference and public disclosure.

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Beasley Broadcast Group’s 8K filing here.

About Beasley Broadcast Group

Beasley Broadcast Group, Inc, a multi-platform media company, owns and operates radio stations in the United States. The company offers local and national advertisers integrated marketing solutions across audio, digital, and event platforms. It operates Houston Outlaws, an esports team that competes in the Overwatch League; and an esports team that competes in the Rocket League.