Form 4: Cumulus Media Executive Milner Acquires and Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
David Edward Milner, President Operations at Cumulus Media Inc., reports acquisition of 8,933 shares and disposal of 3,857 shares of Class A Common Stock on February 26, 2024, related to vesting of restricted stock units and tax obligations.
Summary
- On February 26, 2024, David Edward Milner, President Operations at Cumulus Media Inc., acquired 8,933 shares of Class A Common Stock.
- These shares were acquired at a price of $0.
- On the same day, Milner disposed of 3,857 shares of Class A Common Stock to cover tax withholding obligations.
- The disposal price was $0.
- Following these transactions, Milner beneficially owns 194,637 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation and does not inherently indicate positive or negative sentiment. It's a neutral reporting of facts.
Industry Context
Form 4 filings are a routine part of executive compensation and ownership transparency in publicly traded companies, providing insights into management's alignment with shareholder interests.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they primarily reflect internal compensation mechanisms.
- The filing provides transparency to shareholders regarding executive ownership.
Key Dates
| Date | Description |
|---|---|
| 02/13/2020 | Date of award of 1,500 vested performance-based restricted stock units. |
| 02/05/2021 | Date of award of 1,612 vested performance-based restricted stock units. |
| 02/03/2022 | Date of award of 3,892 vested performance-based restricted stock units. |
| 03/03/2023 | Date of award of 1,929 vested performance-based restricted stock units. |
| 02/26/2024 | Date of transaction: Acquisition and disposal of shares. |
| 02/28/2024 | Date of signature of the report. |
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