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

Director Doyle Mitchell Jr. of Urban One, Inc. was granted 9,025 shares of Class D Common Stock as a restricted stock award.

Summary

• On March 5, 2024, Doyle Mitchell Jr., a director of Urban One, Inc., acquired 9,025 shares of Class D Common Stock.
• The acquisition was a restricted stock award granted pursuant to Rule 16b-3.
• 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.
• The restricted stock will vest in two equal annual installments beginning March 6, 2025.
• Following the transaction, Mitchell's total holdings across all classes of Urban One stock (Classes A, B, C, and D) amount to 39,962 shares.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction (stock award) which is generally viewed neutrally to positively as it incentivizes management. There are no indications of negative performance or concerning issues.

Positives

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

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This type of stock award is a common practice for compensating and incentivizing directors and executives in publicly traded companies. It aligns their interests with the long-term performance of the company.

Comparison to Industry Standards

• Stock awards are a common form of compensation for directors in publicly traded companies.
• The vesting schedule of two years is fairly standard, as it encourages long-term commitment.
• Comparable companies such as Sinclair Broadcast Group and Tegna also utilize stock awards as part of their director compensation packages.

Stakeholder Impact

• The stock award could have a slightly positive impact on shareholder sentiment as it aligns the director's interests with the company's performance.

Key Dates