Form 4: Urban One Director D. Geoffrey Armstrong Receives Restricted Stock Award

Director D. Geoffrey Armstrong acquired 9,025 shares of Urban One Class D Common Stock as a restricted stock award that will vest in two equal installments beginning March 26, 2025.

Summary

• On March 5, 2024, D. Geoffrey Armstrong, a director of Urban One, Inc., acquired 9,025 shares of Class D Common Stock.
• The acquisition was a result of a restricted stock award under Rule 16b-3.
• The award will vest in two equal installments starting on March 26, 2025.
• The number of shares was determined by dividing $25,000 by the closing price of Urban One's Class D shares on March 5, 2024, which was $2.77.
• Following the transaction, Armstrong beneficially owns 226,507 shares across all classes of Urban One stock (Classes A, B, C, and D).

Sentiment

Score: 6

Explanation: The document itself is neutral, simply reporting a transaction. The sentiment is slightly positive as it indicates continued investment and alignment of interests by a director.

Positives

• The acquisition of restricted stock aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.

Future Outlook

The restricted stock award vests in two equal installments beginning March 26, 2025, suggesting a continued relationship between the director and the company.

Industry Context

Restricted stock awards are a common form of executive compensation, aligning management's interests with those of shareholders by incentivizing long-term value creation.

Comparison to Industry Standards

• Executive compensation packages often include a mix of salary, bonus, and equity-based awards like restricted stock.
• The size and vesting schedule of restricted stock awards vary widely depending on the company's size, industry, and performance.
• Comparing Urban One's executive compensation practices to those of its peers (e.g., other media companies like iHeartMedia or Cumulus Media) would provide a more complete picture of its competitiveness.

Stakeholder Impact

• The restricted stock award aligns the director's interests with those of shareholders, potentially leading to decisions that benefit the company's long-term value.
• The award does not have a direct impact on employees, customers, suppliers, or creditors.

Key Dates