Form 4: Urban One Director Doyle Mitchell Jr. Acquires Restricted Stock Award

Director Doyle Mitchell Jr. received a restricted stock award of 53,571 Class D shares from Urban One, Inc. on July 5, 2024.

Summary

• On July 5, 2024, Doyle Mitchell Jr., a director of Urban One, Inc., acquired 53,571 shares of Class D Common Stock.
• This acquisition was in the form of a restricted stock award.
• The award will vest in two equal annual installments starting on July 5, 2025.
• The number of shares was determined by dividing $75,000 by the closing price of Urban One's Class D shares on July 5, 2024, which was $1.40.
• Following the transaction, Mitchell's total holdings across all classes of Urban One stock (Classes A, B, C, and D) amount to 93,533 shares.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The sentiment is neutral to positive as it suggests continued commitment from a key 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 annual installments beginning July 5, 2025, suggesting a continued relationship between the director and the company.

Industry Context

Restricted stock awards are a common form of executive compensation used to align management's interests with those of shareholders and incentivize long-term performance.

Comparison to Industry Standards

• Executive compensation packages, including restricted stock awards, are common in the media industry.
• Companies like Salem Media Group and Townsquare Media also utilize stock-based compensation to incentivize their executives.
• The size and vesting schedule of the award are typical for director-level compensation in similar-sized media companies.

Stakeholder Impact

• Shareholders may view the restricted stock award positively as it aligns the director's interests with the company's long-term success.
• Employees may see this as a sign of stability and commitment from the leadership team.

Key Dates