---
title: "Cumulus Media amends employment deals with Mary Berner and Frank Lopez-Balboa"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283191059.md"
description: "Cumulus Media has amended employment agreements with Mary G. Berner and Francisco \"Frank\" J. Lopez-Balboa, effective April 15, 2026. Berner, as CEO, will have a reduced base salary of $1,250,000, while Lopez-Balboa, as CFO, will have a base salary of $700,000. Both agreements extend through December 31, 2026, with automatic one-year renewals. Changes include modified severance multiples and Good Reason resignation rights tied to MIP allocation. The agreements were entered in connection with the Confirmation Order."
datetime: "2026-04-17T20:23:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283191059.md)
  - [en](https://longbridge.com/en/news/283191059.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283191059.md)
generator: "portal-rs"
---

# Cumulus Media amends employment deals with Mary Berner and Frank Lopez-Balboa

**Cumulus Media entered into amended and restated employment agreements with Mary G. Berner as President and Chief Executive Officer and Francisco "Frank" J. Lopez-Balboa as Executive Vice President and Chief Financial Officer, effective as of the Confirmation Date.**

Individual

Mary G. Berner

Francisco "Frank" J. Lopez-Balboa

Role

President and Chief Executive Officer

Executive Vice President and Chief Financial Officer

Type of Change

Amended and restated employment agreement

Amended and restated employment agreement

Effective Date

Effective as of the Confirmation Date (entered into April 15, 2026)

Effective as of the Confirmation Date (entered into April 15, 2026)

Reason

Agreement entered in connection with Confirmation Order

Agreement entered in connection with Confirmation Order

Replacement Info

Not disclosed

Not disclosed

Background Details

Agreement term through Dec 31, 2026 with automatic one-year extensions; base salary reduced to $1,250,000; severance multiples modified; Good Reason resignation rights tied to MIP allocation

Agreement term through Dec 31, 2026 with automatic one-year extensions; base salary reduced to $700,000; severance multiples modified; Good Reason resignation rights tied to MIP allocation

Board/Committee Role Changes

Not disclosed

Not disclosed

Original SEC Filing: CUMULUS MEDIA INC \[ CMLSQ \] - 8-K - Apr. 17, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**