Sinclair amends contract with COO Robert Weisbord, adjusts compensation terms

Sinclair, Inc. (NASDAQ:SBGI), a media company with a market capitalization of $983 million and a solid financial health score of "GOOD" according to InvestingPro, announced Monday that its subsidiary, Sinclair Television Group, Inc., has amended the employment agreement with Robert Weisbord, Chief Operating Officer and President of Broadcast. The amendment, effective retroactively to January 1, 2025, extends Weisbord’s employment term through December 31, 2027, subject to possible extension at the company’s discretion.

Under the revised agreement, Weisbord’s annual base salary has been set at $1,000,000, effective from the beginning of 2025. He is also eligible for an annual cash bonus of $1,000,000 each year during his employment term, which may be based on revenue, cash flow targets, or other bonus criteria. In addition, he may receive an annual “exceeds” cash bonus of up to $600,000, potentially linked to time sales performance.

The amendment introduces an additional annual executive performance bonus of up to $800,000 for 2025, with the potential bonus increasing by 3% each subsequent year. The actual terms of this bonus will be set by Sinclair’s Compensation Committee for similarly situated executives.

Weisbord is also eligible for annual grants of restricted stock, vesting over two years. The value of these grants is set at $1,550,000 for 2025, $1,260,000 for 2026, and $1,323,000 for 2027, with a 5% annual increase in subsequent years, subject to certain conditions.

The amendment provides that if Weisbord remains employed in good standing through January 1, 2027, or is terminated without cause before that date, he will receive a one-time special longevity bonus of $5,000,000. This bonus will be paid in twelve equal monthly installments beginning in January 2027. If his employment ends due to a change in control, the full longevity bonus will be paid in a lump sum within 30 days of termination.

All other terms of Weisbord’s previous employment agreement remain unchanged, according to the company’s statement based on the SEC filing.

In other recent news, Sinclair, Inc. announced a comprehensive strategic review of its broadcast business. The review aims to explore value-enhancing opportunities, including acquisitions, strategic partnerships, and business combinations in the broadcast, media, and technology sectors. This initiative is part of a dual-track approach that also considers separating the Ventures portfolio through a spin-off or split-off to unlock distinct growth potential. Additionally, Sinclair Ventures appointed Craig Blank as Principal to oversee its minority-owned investment portfolio and shape its long-term investment strategy. On the financial front, Sinclair’s Q2 2025 earnings call revealed mixed signals, with the company surpassing its midpoint guidance for Consolidated Adjusted EBITDA but facing declines in core advertising and distribution revenues. Guggenheim maintained a Buy rating on Sinclair Broadcasting, though it lowered its stock price target to $19, following these second-quarter results. Management’s guidance for the third quarter projects revenue between $752 million and $776 million, with EBITDA expected to range from $71 million to $93 million. These developments reflect Sinclair’s ongoing efforts to navigate industry challenges and explore growth opportunities.

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