Optimum Communications Inc.
03/13/2026 | Press release | Distributed by Public on 03/13/2026 15:16
Management Change/Compensation (Form 8-K)
Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 12, 2026, the Compensation Committee (the "Committee") of the Board of Directors (the "Board") of Optimum Communications, Inc. (the "Company") approved the grant of deferred cash awards ("DCAs") to eligible participants, including the Company's Chief Executive Officer (Dennis Mathew), Chief Financial Officer (Marc Sirota), General Counsel & Chief Corporate Responsibility Officer (Michael Olsen), and President, Consumer Services (Michael Parker), as part of the 2026 long-term incentive program (the "2026 LTIP"). One-third of the DCAs will vest on December 14 of 2026, 2027 and 2028, respectively, provided that the recipient continues to provide services to the Company through the vesting date. Mr. Mathew was granted DCA valued at $5,000,000; Mr. Sirota was granted DCA valued at $1,750,000; Mr. Olsen was granted DCA valued at $1,500,000; and Mr. Parker was granted DCA valued at $1,125,000. The foregoing description is a summary and is qualified by reference to the full text of the form of DCA agreement, a copy of which will be filed as an exhibit to the Company's quarterly report on Form 10-Q for the quarter ending March 31, 2026.
The DCAs represent 50% of the 2026 LTIP, with the other 50% of the 2026 LTIP anticipated to be granted in the form of cash performance award ("CPA") pursuant to the Optimum Communications, Inc. (f/k/a Altice USA, Inc.) 2017 Long Term Incentive Plan, as amended. The 2026 long-term incentive target amounts of the combined DCA and anticipated CPA long-term incentive grants for Messrs. Mathew, Sirota, Olsen and Parker remain unchanged from 2025, with the DCAs replacing the restricted stock units that were granted in prior recent years.
Messrs. Mathew, Sirota, Olsen and Parker's 2026 salary and short-term incentive compensation bonus plan target amounts also remain unchanged from 2025. However, the Committee has determined to set and assess the bonus plan targets and performance quarterly rather than annually, and any quarterly bonus amounts earned will be paid following the applicable quarter.
Optimum Communications Inc. published this content on March 13, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on March 13, 2026 at 21:16 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]