Joseph Battistoni
LEE ENTERPRISESAbout Joseph Battistoni
Joseph J. Battistoni is Vice President – Sales and Marketing at Lee Enterprises, serving in this role since November 2020; he previously led Local Advertising (Jan–Nov 2020), and was General Manager and VP of Sales & Marketing at The Times of Northwest Indiana (Nov 2015–Jan 2020). He joined Lee in March 2014 as Digital Director of The Times after leadership roles at Tribune Media Company in digital services and targeted media; age 42 in 2025. Company performance context during his tenure includes FY2023 total operating revenue of $691M (down 12% YoY), digital revenue of $273M (up 14% YoY, 40% of revenue), adjusted EBITDA of $85M, and net loss of $2.7M, with 2024 annual incentives tied to Adjusted EBITDA and digital revenue not paying out for NEOs due to performance versus budget. Education credentials for Mr. Battistoni are not disclosed in Company filings.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lee Enterprises – The Times of Northwest Indiana | General Manager & VP Sales and Marketing | Nov 2015–Jan 2020 | Led local sales and marketing; progressed toward digital transformation in market |
| Lee Enterprises | Vice President – Local Advertising | Jan 2020–Nov 2020 | Oversaw local ad revenue during transition to broader sales leadership |
| Lee Enterprises – The Times of Northwest Indiana | Digital Director | Mar 2014–Nov 2015 | Advanced digital services adoption at The Times |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Tribune Media Company | Various leadership roles in digital services and targeted media | Pre-2014 (prior to Lee tenure) | Led delivery of digital services/targeted media; relevant to Lee’s digital revenue growth focus |
Fixed Compensation
- Base salary and annual incentives for executives are set to target 90–110% of competitive market levels, considering peer benchmarking, internal equity, responsibilities, and performance. Exact salary for Mr. Battistoni is not disclosed.
- Short‑term incentives for executives use company‑wide metrics and individual goals; for 2024, structure included Adjusted EBITDA (34%), Digital Revenue (33%), and measurable objectives (33%) against Board‑approved Budget.
Performance Compensation
| Component | Metric | Weighting | Target Basis | Payout Range | Vesting |
|---|---|---|---|---|---|
| Annual Cash Incentive (executives) | Adjusted EBITDA | 34% | Board‑approved annual Budget | 0–200% of financial target; maps to 0–50% of base for CFO/Bekke, 0–40% for other NEOs; CEO structure differs. Actual NEO payout for 2024 was zero due to performance; Mr. Battistoni’s payout not disclosed. | |
| Annual Cash Incentive (executives) | Digital Revenue | 33% | Board‑approved annual Budget | Same as above | |
| Annual Cash Incentive (executives) | Individual measurable objectives | 33% | Tied to digital transformation goals | Same as above | |
| Long‑Term Incentive | Performance Share Units (PSUs) | 50% of long‑term award mix | 3‑year performance period with specified goals | Earned based on performance; one share per unit if achieved | |
| Long‑Term Incentive | Stock Options | Up to 25% of award value | Grant at FMV, 10‑year term | Vest 30%/30%/40% over 3 years; expire 10 years from grant | |
| Long‑Term Incentive | Restricted Stock Awards | ~25% of award value | Time‑based | Vest one‑third on each of first, second, third anniversary |
- 2024 NEO annual incentive awards show targets but no payouts; CEO received no bonus. The Company disclosed no stock awards to NEOs under LTIP in 2024; Mr. Battistoni’s individual grants are not disclosed.
Equity Ownership & Alignment
| Metric | Feb 22, 2023 | Dec 29, 2023 | Dec 31, 2024 | Oct 31, 2025 |
|---|---|---|---|---|
| Shares beneficially owned | 16,047 | 19,853 | 17,412 | 19,753 |
| % of shares outstanding | <1% | <1% | <1% | <1% |
| Hedging/Pledging status | None of exec/director shares hedged/pledged (2023) | Prohibition policy in place | Prohibition policy in place | Prohibition policy in place |
- Company insider trading policy prohibits hedging, holding in margin accounts, and pledging Company stock.
- Director stock ownership guidelines exist; executive ownership guidelines are not disclosed.
Employment Terms
| Topic | Provision | Applicability/Trigger |
|---|---|---|
| Change‑of‑Control (CoC) employment agreements | Executives (including VPs) have CoC agreements effective upon a change of control or qualifying termination related to CoC; agreements are at‑will absent CoC and auto‑renew to maintain a two‑year protection window. | CoC defined to include certain M&A, liquidation/dissolution, Board changes, or 15% stock acquisition intending to change control. |
| Severance (CoC) | Lump sum equal to 1x annual base salary plus highest recent annual bonus for Vice Presidents; CEO is 3x. Also a payment equal to the same multiple of average annual Company contributions under defined contribution plans over prior 3 years; continued welfare benefits for the multiple period; legal fees; outplacement. | Termination other than for cause, death, disability, or resignation for good reason during the two‑year CoC employment period. |
| Non‑compete/Non‑solicit | One year restrictions post‑agreement effectiveness: non‑disclosure, non‑compete, non‑solicit customers and employees (with limited exceptions). | After CoC agreements become effective. |
| Excise tax | Payments may be reduced (capped) to yield a larger net after‑tax amount versus paying excise tax. | Applies if excise taxes would otherwise reduce net value. |
| Equity awards under LTIP | Double‑trigger vesting upon CoC: early vesting/exercise or cash payment only if successor doesn’t provide equivalent replacement awards, or upon qualifying termination within protection period. If successor does not assume/replace awards, options/SARs become fully vested and exercisable; service‑based awards vest fully; performance awards per agreement. | CoC with no replacement awards or qualifying termination; successor obligations to assume the agreements are mandated. |
- Clawback policy: Company may cancel or recoup compensation per its Recovery of Erroneously Awarded Executive Compensation policy.
- LTIP amendment effective upon shareholder approval; Plan terminates Dec 31, 2029 unless earlier terminated.
Investment Implications
- Alignment: Battistoni’s direct ownership remains below 1% across 2023–2025, but Company prohibits hedging/pledging, mitigating misalignment risks; no pledging disclosed for executives in 2023. Ownership is modest, suggesting reliance on cash and equity incentives rather than substantial personal stake.
- Incentive levers: Short‑term pay is tightly linked to Adjusted EBITDA and digital revenue versus Budget, and long‑term shifts to 50/50 time‑ vs performance‑based awards add stronger pay‑for‑performance alignment; zero NEO bonuses in 2024 underscores discipline around thresholds. For sales/marketing leadership, digital revenue objectives are directly tied to compensation outcomes.
- Retention and CoC economics: As a Vice President, he is covered by CoC agreements with 1x salary+highest bonus severance, benefits continuation, and double‑trigger equity protection—moderate retention protection that could lessen voluntary departure risk during strategic change but does not create outsized windfalls. Non‑compete/non‑solicit provisions provide post‑CoC protections.
- Execution risk context: Company’s FY2023 metrics show declining total revenue yet strong digital growth and positive adjusted EBITDA, indicating strategic dependence on accelerating digital monetization—areas within Battistoni’s remit. Bonus non‑payment in 2024 for NEOs signals pressure to meet tighter budgets, potentially increasing near‑term selling pressure if executives rely on cash awards; individual payouts for Mr. Battistoni are not disclosed.