Raymundo H. Granado, Jr.
E.W. SCRIPPSAbout Raymundo H. Granado, Jr.
Raymundo H. Granado, Jr. is 45 and has served as an independent director of The E.W. Scripps Company since 2023. He is a private investor and philanthropist; current roles include board member of RightGift (since 2020, after two years as a board advisor), trustee of the Scripps Howard Foundation/Fund (since 2018), director of the Scripps Family Impact Fund, and charter member of the charitable advisory board to the Adam R. Scripps Foundation . He serves on the Nominating & Governance Committee and attended 100% of Board and committee meetings in 2024 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| RightGift | Board Advisor | ~2018–2020 (two years prior to joining board) | Advisory role preceding board appointment |
| — | — | — | — |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| RightGift (technology company for charitable ecosystem) | Board Member | Since 2020 | Corporate governance oversight |
| Scripps Howard Foundation/Fund | Trustee | Since 2018 | Philanthropic oversight |
| Scripps Family Impact Fund | Director | N/A | Family impact investing oversight |
| Adam R. Scripps Foundation | Charter Member, Charitable Advisory Board | N/A | Advisory contributor |
Board Governance
- Independence and status: The Board determined all directors except the CEO are independent under Nasdaq standards; all members of the Nominating & Governance, Audit, and Compensation & Talent Management Committees are independent, which includes Mr. Granado .
- Controlled company context: SSP qualifies as a “controlled company” under Nasdaq due to the Scripps Family Agreement’s majority voting power but is not relying on the exemption (committees remain fully independent) .
- Committee membership and activity: Member, Nominating & Governance Committee (Chair: John W. Hayden); the committee met four times in 2024 and oversees director nominations, governance principles, board/committee self-assessments, committee nominations, ethics complaints oversight, and sustainability strategy .
- Attendance: Board held four regular meetings in 2024; all directors attended all Board and committee meetings (100% attendance) .
| Governance Metric | 2024 Detail |
|---|---|
| Board meetings held | 4 |
| Committee meetings (Nominating & Governance) | 4 |
| Attendance | 100% for all directors and all assigned committees |
| Committee assignments (Granado) | Nominating & Governance (non-chair) |
| Independence | Independent director |
Fixed Compensation
| Component | 2024 Amount/Descriptor | Source |
|---|---|---|
| Fees Earned or Paid in Cash (Granado) | $90,000 | |
| Program: Annual director cash retainer (non-employee) | $80,000 | |
| Program: Annual retainer – Non-chair committee member | $10,000 | |
| Program: Committee Chair retainers | Audit: $26,000; Compensation & Talent Management: $20,000; Nominating & Governance: $14,000 | |
| Program: Executive Committee Chair fee (only if committee meets) | $3,000 (Chair waived payment for 2024’s single meeting) | |
| Changes to program in 2024 | No changes made |
Notes:
- Granado’s $90,000 cash total aligns with $80,000 director retainer plus $10,000 for one non-chair committee membership .
Performance Compensation
| Element | 2024 Detail | Vesting/Settlement | Outstanding as of 12/31/2024 |
|---|---|---|---|
| Stock Awards (Granado) – grant date fair value (ASC 718) | $182,374 | Program awards granted in May 2024; RSUs settle on the earlier of first anniversary, termination of board service, or change in control; forfeitable upon removal for cause | RSUs: 40,983 units (Granado) |
| Program: Equity grant policy (non-employee directors) | $150,000 RSU value targeted in May 2024; intended to be around peer median | As above | N/A |
| Forward-looking plan reference (non-employee director equity) | Current program provides for $175,000 RSU value under plan benefits description | As above | N/A |
Citations: Granado’s 2024 stock award value and outstanding units ; equity grant timing/terms and $150,000 target value ; plan benefits noting $175,000 program level reference .
There are no performance metrics tied to director equity awards; non-employee director equity is time-based RSUs intended to align interests with shareholders .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed for Mr. Granado . |
| Family/controlled group relationships | Signatory to the Scripps Family Agreement; cousins with directors Charles L. Barmonde and Monica O. Holcomb . |
| Voting coordination under Family Agreement | Signatories meet before shareholder meetings and are bound by majority signatory vote; a signatory may vote all Common Voting Shares held by all signatories via irrevocable proxy . |
| 2025 signatory voting decision | Signatories approved the nominees and key proposals (Proposals 2–4) on March 12, 2025; their Common Voting Shares will be cast in favor accordingly . |
Expertise & Qualifications
- Background/skills: Private investor and philanthropist; institutional knowledge and thorough understanding of company history and vision as a Scripps family member (as emphasized by the Board’s qualifications review) .
- Governance and sustainability: Active on the Nominating & Governance Committee, which oversees governance principles, board/committee evaluations, director nominations, ethics oversight, and sustainability strategy .
Equity Ownership
| Metric | Amount | Notes |
|---|---|---|
| Class A Common Shares (Granado) | 26,751 | Beneficial ownership as of 1/31/2025 |
| RSUs convertible within 60 days | — | None listed for Granado |
| Total Class A (incl. near-term RSUs) | 26,751 | As above |
| Common Voting Shares (Granado) | 115 | As of 1/31/2025 |
| Percent of class | <1% for each class | As indicated in table |
| Pledged shares | None | “None of the shares listed … is pledged” |
| Hedging/pledging policy | Hedging and pledging prohibited for directors, officers, key employees | Policy statement |
Ownership Guidelines and Status
| Guideline | Target Shares (1/31/2025 price $1.88) | Actual Ownership (1/31/2025) | Compliance Deadline |
|---|---|---|---|
| 3x annual cash retainer by 5th anniversary of board election | 127,660 | 67,734 | May 1, 2028 |
Citations: Guidelines and status table; target and actual counts for Mr. Granado . Outstanding shares context and non-pledge policy .
Governance Assessment
Key positives:
- Independent director on a fully independent Nominating & Governance Committee; 100% meeting attendance in 2024 supports engagement and board effectiveness .
- Clear ownership alignment mechanisms: annual RSU grants and robust stock ownership guidelines; hedging/pledging prohibited; no pledged shares disclosed .
- Director compensation structure is conventional and benchmarked; no 2024 program changes; Granado’s cash aligns with program design (retainer + one committee) .
Risk indicators and potential conflicts:
- Controlled company dynamics via the Scripps Family Agreement; signatories’ coordinated voting substantially influences director elections and major proposals, which can pressure board independence despite formal compliance (company is not relying on the Nasdaq “controlled company” exemption, but the voting bloc remains a structural consideration) .
- Family ties: Granado is a signatory and cousin to two fellow directors (Barmonde and Holcomb), creating a perceived interlock within the family governance bloc. This should be monitored but is transparently disclosed .
- Ownership guideline status: As of 1/31/2025, Granado is below the target number of shares but remains within the compliance window through May 1, 2028 (not a breach, but notable for alignment tracking) .
Director compensation outlook:
- Non-employee director equity awards were targeted at $150,000 in 2024 (grant value measured at $182,374 for Granado under ASC 718) and the plan benefits section notes a current $175,000 level for non-employee director RSUs; continued benchmarking is expected .
RED FLAGS to monitor:
- Concentrated voting under the Scripps Family Agreement and pre-meeting binding votes among signatories .
- Family relationships among multiple directors (Granado, Barmonde, Holcomb) within the voting bloc .