SEC Info - Entravision Communications Corp - ‘10-K’ for 12/31/18

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Entravision Communications Corp – ‘10-K’ for 12/31/18 – ‘R24’

On: Monday, 5/6/19, at 8:31pm ET · As of: 5/7/19 · For: 12/31/18 · Accession #: 1564590-19-16139 · File #: 1-15997

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/07/19  Entravision Communications Corp   10-K       12/31/18  113:20M                                    ActiveDisclosure/FA

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.17M 
 3: EX-10.37    Material Contract                                   HTML     39K 
 4: EX-10.40    Material Contract                                   HTML     71K 
 2: EX-10.9     Material Contract                                   HTML     67K 
 5: EX-21.1     Subsidiaries List                                   HTML     33K 
 6: EX-23.1     Consent of Experts or Counsel                       HTML     33K 
 7: EX-23.2     Consent of Experts or Counsel                       HTML     32K 
 8: EX-31.1     Certification -- §302 - SOA'02                      HTML     38K 
 9: EX-31.2     Certification -- §302 - SOA'02                      HTML     39K 
10: EX-32       Certification -- §906 - SOA'02                      HTML     34K 
17: R1          Document and Entity Information                     HTML     73K 
18: R2          Consolidated Balance Sheets                         HTML    120K 
19: R3          Consolidated Balance Sheets (Parenthetical)         HTML     72K 
20: R4          Consolidated Statements of Operations               HTML    135K 
21: R5          Consolidated Statements of Operations               HTML     46K 
                (Parenthetical)                                                  
22: R6          Consolidated Statements of Comprehensive Income     HTML     51K 
23: R7          Consolidated Statements of Stockholders' Equity     HTML    105K 
24: R8          Consolidated Statements of Cash Flows               HTML    159K 
25: R9          Nature of Business                                  HTML     37K 
26: R10         Summary of Significant Accounting Policies          HTML    219K 
27: R11         Correction of Immaterial Misstatements in Prior     HTML    228K 
                Period Financial Statements                                      
28: R12         Significant Transactions                            HTML     35K 
29: R13         Acquisitions                                        HTML    180K 
30: R14         Revenues                                            HTML    114K 
31: R15         Goodwill and Other Intangible Assets                HTML    227K 
32: R16         Property and Equipment                              HTML     92K 
33: R17         Accounts Payable and Accrued Expenses               HTML     84K 
34: R18         Long-Term Debt                                      HTML    104K 
35: R19         Derivative Instruments                              HTML     36K 
36: R20         Fair Value Measurements                             HTML     89K 
37: R21         Income Taxes                                        HTML    225K 
38: R22         Commitments and Contingencies                       HTML     53K 
39: R23         Stockholders' Equity                                HTML     41K 
40: R24         Equity Incentive Plans                              HTML    176K 
41: R25         Related-Party Transactions                          HTML     82K 
42: R26         Accumulated Other Comprehensive Income (Loss)       HTML    145K 
43: R27         Litigation                                          HTML     34K 
44: R28         Segment Data                                        HTML    401K 
45: R29         Quarterly Results of Operations                     HTML    110K 
46: R30         Subsequent Events                                   HTML     36K 
47: R31         Schedule II - Consolidated Valuation and            HTML    102K 
                Qualifying Accounts                                              
48: R32         Summary of Significant Accounting Policies          HTML    308K 
                (Policies)                                                       
49: R33         Summary of Significant Accounting Policies          HTML    137K 
                (Tables)                                                         
50: R34         Correction of Immaterial Misstatements in Prior     HTML    227K 
                Period Financial Statements (Tables)                             
51: R35         Acquisitions (Tables)                               HTML    173K 
52: R36         Revenues (Tables)                                   HTML    100K 
53: R37         Goodwill and Other Intangible Assets (Tables)       HTML    215K 
54: R38         Property and Equipment (Tables)                     HTML     90K 
55: R39         Accounts Payable and Accrued Expenses (Tables)      HTML     84K 
56: R40         Long-Term Debt (Tables)                             HTML     75K 
57: R41         Fair Value Measurements (Tables)                    HTML     84K 
58: R42         Income Taxes (Tables)                               HTML    223K 
59: R43         Commitments and Contingencies (Tables)              HTML     49K 
60: R44         Equity Incentive Plans (Tables)                     HTML    167K 
61: R45         Related-Party Transactions (Tables)                 HTML     72K 
62: R46         Accumulated Other Comprehensive Income (Loss)       HTML    145K 
                (Tables)                                                         
63: R47         Segment Data (Tables)                               HTML    397K 
64: R48         Quarterly Results of Operations (Tables)            HTML    110K 
65: R49         Nature of Business - Additional Information         HTML     45K 
                (Detail)                                                         
66: R50         Summary of Significant Accounting Policies -        HTML    133K 
                Additional Information (Detail)                                  
67: R51         Summary of Significant Accounting Policies -        HTML     73K 
                Reconciliation of Basic and Diluted Income (Loss)                
                Per Share (Detail)                                               
68: R52         Correction of Immaterial Misstatements in Prior     HTML    193K 
                Period Financial Statements - Summary of Impact,                 
                by Financial Statement (Detail)                                  
69: R53         Significant Transactions - Additional Information   HTML     41K 
                (Detail)                                                         
70: R54         Acquisitions - Additional Information (Detail)      HTML    110K 
71: R55         Acquisitions - Summary of Purchase Price            HTML     71K 
                Allocation (Detail)                                              
72: R56         Acquisitions - Schedule of Unaudited Pro Forma      HTML     65K 
                Information (Detail)                                             
73: R57         Acquisitions - Summary of Intangible Assets         HTML     51K 
                Subject to Amortization Acquired (Detail)                        
74: R58         Revenues - Summary of Revenues Disaggregated by     HTML     53K 
                Major Source (Detail)                                            
75: R59         Revenues - Summary of Disaggregation of Broadcast   HTML     50K 
                Advertising Revenue by Sales Channel (Detail)                    
76: R60         Revenues - Summary of Deferred Revenue (Detail)     HTML     38K 
77: R61         Goodwill and Other Intangible Assets - Carrying     HTML     49K 
                Amount of Goodwill (Detail)                                      
78: R62         Goodwill and Other Intangible Assets - Composition  HTML     60K 
                of Company's Acquired Intangible Assets and                      
                Associated Accumulated Amortization (Detail)                     
79: R63         Goodwill and Other Intangible Assets - Additional   HTML     61K 
                Information (Detail)                                             
80: R64         Goodwill and Other Intangible Assets - Estimated    HTML     43K 
                Amortization Expense (Detail)                                    
81: R65         Property and Equipment - Property and Equipment     HTML     70K 
                (Detail)                                                         
82: R66         Property and Equipment - Additional Information     HTML     44K 
                (Detail)                                                         
83: R67         Accounts Payable and Accrued Expenses - Accounts    HTML     66K 
                Payable and Accrued Expenses (Detail)                            
84: R68         Long-Term Debt - Long-Term Debt (Detail)            HTML     46K 
85: R69         Long-Term Debt - Scheduled Maturities of Long-Term  HTML     53K 
                Debt (Detail)                                                    
86: R70         Long-Term Debt - 2013 Credit Facility - Additional  HTML     45K 
                Information (Detail)                                             
87: R71         Long-Term Debt - 2017 Credit Facility - Additional  HTML     77K 
                Information (Detail)                                             
88: R72         Derivative Instruments - Additional Information     HTML     44K 
                (Detail)                                                         
89: R73         Fair Value Measurements - Fair Value of Assets and  HTML     52K 
                Liabilities Measured on Recurring Basis (Detail)                 
90: R74         Fair Value Measurements - Additional Information    HTML     54K 
                (Detail)                                                         
91: R75         Income Taxes - Provision (Benefit) for Income       HTML     61K 
                Taxes (Detail)                                                   
92: R76         Income Taxes - Additional Information (Detail)      HTML     73K 
93: R77         Income Taxes - Schedule of Effective Income Tax     HTML     61K 
                Rate (Detail)                                                    
94: R78         Income Taxes - Components of Deferred Tax Assets    HTML     74K 
                and Liabilities (Detail)                                         
95: R79         Income Taxes - Unrecognized Tax Benefits (Detail)   HTML     36K 
96: R80         Commitments and Contingencies - Additional          HTML     53K 
                Information (Detail)                                             
97: R81         Commitments and Contingencies - Future Minimum      HTML     52K 
                Lease Payments under These Non-cancelable                        
                Operating Leases (Detail)                                        
98: R82         Stockholders' Equity - Additional Information       HTML     60K 
                (Detail)                                                         
99: R83         Equity Incentive Plans - Additional Information     HTML     94K 
                (Detail)                                                         
100: R84         Equity Incentive Plans - Summary of Stock Option    HTML     80K  
                Activity (Detail)                                                
101: R85         Equity Incentive Plans - Summary of Nonvested       HTML     55K  
                Restricted Stock and Restricted Stock Units                      
                Activity (Detail)                                                
102: R86         Related-Party Transactions - Additional             HTML     53K  
                Information (Detail)                                             
103: R87         Related-Party Transactions - Summary of             HTML     59K  
                Related-Party Balances with Univision and Other                  
                Related Parties (Detail)                                         
104: R88         Accumulated Other Comprehensive Income (Loss) -     HTML     64K  
                Summary of Components of AOCI (Detail) (Detail)                  
105: R89         Segment Data - Additional Information (Detail)      HTML     52K  
106: R90         Segment Data - Separate Financial Data for Each of  HTML    145K  
                Company's Operating Segment (Detail)                             
107: R91         Quarterly Results of Operations - Summary of        HTML     54K  
                Quarterly Results of Operations (Detail)                         
108: R92         Quarterly Results of Operations - Summary of        HTML     35K  
                Quarterly Results of Operations (Parenthetical)                  
                (Detail)                                                         
109: R93         Subsequent Events - Additional Information          HTML     37K  
                (Detail)                                                         
110: R94         Schedule II - Consolidated Valuation and            HTML     45K  
                Qualifying Accounts (Detail)                                     
112: XML         IDEA XML File -- Filing Summary                      XML    206K  
111: EXCEL       IDEA Workbook of Financial Reports                  XLSX    139K  
11: EX-101.INS  XBRL Instance -- evc-20181231                        XML   5.61M 
13: EX-101.CAL  XBRL Calculations -- evc-20181231_cal                XML    248K 
14: EX-101.DEF  XBRL Definitions -- evc-20181231_def                 XML    982K 
15: EX-101.LAB  XBRL Labels -- evc-20181231_lab                      XML   1.80M 
16: EX-101.PRE  XBRL Presentations -- evc-20181231_pre               XML   1.49M 
12: EX-101.SCH  XBRL Schema -- evc-20181231                          XSD    268K 
113: ZIP         XBRL Zipped Folder -- 0001564590-19-016139-xbrl      Zip    300K

‘R24’ — Equity Incentive Plans

This is an IDEA Financial Report. [ Alternative Formats ]

Equity Incentive Plans

12 Months Ended

Dec. 31, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Equity Incentive Plans

16. EQUITY INCENTIVE PLANS

In May 2004, the Company adopted its 2004 Equity Incentive Plan (“2004 Plan”), which replaced its 2000 Omnibus Equity Incentive Plan (“2000 Plan”). The 2000 Plan had allowed for the award of up to 11,500,000 shares of Class A common stock. The 2004 Plan allows for the award of up to 10,000,000 shares of Class A common stock, plus any grants remaining available at its adoption date under the 2000 Plan. Awards under the 2004 Plan may be in the form of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock or restricted stock units. The 2004 Plan is administered by a committee appointed by the Board. This committee determines the type, number, vesting requirements and other features and conditions of such awards. Generally, stock options granted from the 2000 Plan have a contractual term of ten years from the date of the grant and vest over four or five years and stock options granted from the 2004 Plan have a contractual term of ten years from the date of the grant and vest over four years.

The 2004 Plan was amended by the Compensation Committee effective July 13, 2006 to (i) eliminate automatic option grants for non-employee directors, making any grants to such directors discretionary by the Compensation Committee and (ii) eliminate the three-year minimum vesting period for performance-based restricted stock and restricted stock units, making the vesting period for such grants discretionary by the Compensation Committee.

The 2004 Plan was further amended by the Compensation Committee effective May 21, 2014 primarily to extend the end of the term until May 29, 2024.

The Company has issued stock options and restricted stock units to various employees and non-employee directors of the Company in addition to non-employee service providers under both the 2004 Plan and the 2000 Plan.

Stock Options

The fair value of each stock option is estimated on the date of grant using the Black-Scholes option pricing model that uses the assumptions noted in the following table. Stock-based compensation expense related to stock options is based on the fair value on the date of grant and is amortized over the vesting period, generally between 1 to 4 years. Expected volatilities are based on historical volatility of the Company’s stock. The Company uses historical data to estimate option exercise and employee termination within the valuation model. The expected term of stock options granted is based on historical contractual life and the vesting data of the stock options. The risk-free rate for periods within the contractual life of the stock option is based on the U.S. Treasury yield curve in effect at the time of grant.

There were no stock options granted during the years ended December 31, 2018 and 2017.

The following is a summary of stock option activity: (in thousands, except exercise price data and contractual life data):

Options	Number of Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2015		3,423		$	2.35
Exercised		(925	)		2.36			$	4,278
Forfeited or cancelled		(165	)		3.61
Outstanding at December 31, 2016		2,333		$	2.26			$	11,061
Exercised		(915	)	$	1.89			$	3,689
Forfeited or cancelled		(90	)		2.48
Outstanding at December 31, 2017		1,328			2.50			$	6,175
Exercised		(177	)		2.42			$	407
Forfeited or cancelled		(36	)		4.40
Outstanding at December 31, 2018		1,115		$	2.45		3.75	$	970
Vested and Exercisable at December 31, 2018		1,096		$	2.38		3.71	$	970
Vested and Expected to Vest at December 31, 2018		984		$	2.47		4.03	$	892

There was de minimis stock-based compensation expense related to the Company’s employee stock option for the year ended December 31, 2018. Stock-based compensation expense related to the Company’s employee stock option plans was $0.1 million and $0.4 million for the years ended December 31, 2017 and 2016, respectively.

As of December 31, 2018, there was no compensation expense related to the Company’s employee stock option plans.

Restricted Stock and Restricted Stock Units

The following is a summary of non-vested restricted stock and restricted stock units activity: (in thousands, except grant date fair value data):

	Number of Shares			Weighted-Average Grant Date Fair Value
Nonvested balance at December 31, 2015		1,268		$	6.39
Granted		931			6.78
Vested		(685	)		6.28
Forfeited or cancelled		(134	)		6.25
Nonvested balance at December 31, 2016		1,380		$	6.73
Granted		1,104			7.31
Vested		(844	)		6.64
Forfeited or cancelled		(83	)		7.21
Nonvested balance at December 31, 2017		1,557		$	7.18
Granted		1,121			3.20
Vested		(798	)		6.11
Forfeited or cancelled		(104	)		7.28
Nonvested balance at December 31, 2018		1,776		$	5.08

Stock-based compensation expense related to grants of restricted stock and restricted stock units was $5.8 million, $6.0 million and $4.6 million for the years ended December 31, 2018, 2017 and 2016, respectively.

As of December 31, 2018, there was approximately $4.2 million of total unrecognized compensation expense related to grants of restricted stock and restricted stock units that is expected to be recognized over a weighted-average period of 1.7 years.

The fair value of shares vested related to grants of restricted stock and restricted stock units was $5.2 million, $6.0 million, and $4.2 million for the years ended December 31, 2018, 2017 and 2016, respectively.

The Company’s restricted stock units are net settled by withholding shares of the Company’s common stock to cover minimum statutory incomes taxes and remitting the remaining shares of the Company’s common stock to an individual’s brokerage account. Authorized shares of the Company’s common stock are used to settle restricted stock units.

Performance Restricted Stock Units

Certain of the Company’s management-level employees were granted performance stock units that are contingent upon achievement of specified pre-established performance goals over the performance period, which is one year, and vesting period of three years, subject to the recipient's continued service with the Company. The performance goals are based on achievement of net revenue and/or EBITDA goals. Depending on the outcome of the performance goals, the recipient may ultimately earn performance restricted stock units between 0% and 200% of the number of performance restricted stock units granted.

For the year ended December 31, 2016, the Company granted 608,500 performance restricted stock units at a weighted average grant date fair value of $6.75 per share. For the year ended December 31, 2016, there was no share-based compensation expense related to performance restricted stock units and the associated performance goals were not achieved.

For the years ended December 31, 2018 and 2017, the Company did not grant performance restricted stock units.

Dates Referenced Herein and Documents Incorporated by Reference

This ‘10-K’ Filing	Date	Other Filings

	5/29/24
Filed as of:	5/7/19	8-K, DEF 14A
Filed on:	5/6/19	8-K
For Period end:	12/31/18	4, NT 10-K
	12/31/17	10-K, 11-K, 4, NT 10-K
	12/31/16	10-K, 11-K, 4
	12/31/15	10-K, 11-K
	5/21/14	DEFA14A
	7/13/06	4, 4/A, 8-K
		List all Filings

3 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/16/23  Entravision Communications Corp.  10-K       12/31/22  120:27M                                    Donnelley … Solutions/FA
 3/16/22  Entravision Communications Corp.  10-K       12/31/21  109:23M                                    Donnelley … Solutions/FA
 4/12/21  Entravision Communications Corp.  10-K       12/31/20  108:20M                                    ActiveDisclosure/FA

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Filing Submission 0001564590-19-016139 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)