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Cogent Comms ( (CCOI) ) has provided an update.
On January 14, 2025, Cogent Communications announced an amendment to CEO David Schaeffer’s employment agreement, extending his term until December 31, 2027. The amendment includes a long-term equity compensation plan and sets parameters for Schaeffer’s annual cash incentive award, which targets $500,000 and caps at $667,000. Key performance indicators for this incentive are tied to the company’s Annualized Wavelength Revenue and Gross Profit growth rates. Furthermore, the amendment outlines significant restricted stock awards for Schaeffer, with vesting conditions based on the company’s EBITDA and Free Cash Flow growth. These strategic moves aim to align executive incentives with company performance, potentially impacting stakeholders by driving operational growth and enhancing industry positioning.
More about Cogent Comms
Cogent Communications Holdings, Inc. operates in the telecommunications industry, offering high-speed internet and data connectivity solutions. The company focuses on providing reliable network services to businesses, leveraging a strong market presence in global data centers and various metro markets.
YTD Price Performance: -6.65%
Average Trading Volume: 405,792
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $3.53B
For detailed information about CCOI stock, go to TipRanks’ Stock Analysis page.
