David Edward Milner - May 2, 2022 Form 4 Insider Report for CUMULUS MEDIA INC (CMLS)

Role: President - Operations
Signature: /s/ Richard S. Denning, Attorney-In-Fact
Stock symbol: CMLS
Transactions as of: May 2, 2022
Transactions value $: -$40,860
Form type: 4
Date filed: 5/4/2022, 07:18 PM
Previous filing: Feb 24, 2022
Next filing: Feb 24, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CMLS	Class A Common Stock, par value $0.0000001 per share	Sale	-$40.9K	-3K	-3.57%	$13.62	81.1K	May 2, 2022	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Number of shares sold pursuant to a Rule 10b5-1 plan adopted by Mr. Milner in March 2022.
F2	This is the weighted average sale price for multiple open market sales on May 2, 2022. The sales price of each transaction ranged from $13.40 to $13.95 per share, inclusive. The reporting person undertakes to provide to Cumulus Media Inc., any security holder of Cumulus Media Inc., or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.

Content

Number of shares sold pursuant to a Rule 10b5-1 plan adopted by Mr. Milner in March 2022.

This is the weighted average sale price for multiple open market sales on May 2, 2022. The sales price of each transaction ranged from $13.40 to $13.95 per share, inclusive. The reporting person undertakes to provide to Cumulus Media Inc., any security holder of Cumulus Media Inc., or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.