Form 4: Cumulus Media Executive Reports Stock Transactions
SEC Form 4 Filing
Robert J. Walker, President Operations at Cumulus Media Inc., reports acquisition and disposal of Class A Common Stock due to vesting of performance-based restricted stock units.
Summary
- On February 26, 2024, Robert J. Walker, President Operations of Cumulus Media Inc., reported transactions involving Class A Common Stock.
- Walker acquired 8,933 shares of Class A Common Stock at $0, resulting in a direct ownership of 200,013 shares.
- He also disposed of 3,472 shares to cover tax withholding obligations, reducing his direct ownership to 196,541 shares.
- The acquisition was due to the vesting of performance-based restricted stock units awarded on various dates.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard SEC filing detailing stock transactions.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership by a company executive.
Key Dates
| Date | Description |
|---|---|
| 2020-02-13 | Date of award of 1,500 vested performance-based restricted stock units. |
| 2021-02-05 | Date of award of 1,612 vested performance-based restricted stock units. |
| 2022-02-03 | Date of award of 3,892 vested performance-based restricted stock units. |
| 2023-03-03 | Date of award of 1,929 vested performance-based restricted stock units. |
| 2024-02-26 | Date of transaction: acquisition and disposal of shares. |
| 2024-02-28 | Date of signature on the report. |
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