Erik Hellum - Jan 18, 2023 Form 4 Insider Report for Townsquare Media, Inc. (TSQ)

Role
COO, Local Media
Signature
/s/**Allison Zolot as Attorney-in-Fact for Erik Hellum
Stock symbol
TSQ
Transactions as of
Jan 18, 2023
Transactions value $
$0
Form type
4
Date filed
1/19/2023, 08:28 PM
Previous filing
Oct 12, 2022
Next filing
Mar 14, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TSQ Class A Common Units Award $0 +53K +10.46% $0.00 559K Jan 18, 2023 Direct F1
transaction TSQ Class A Common Units Award $0 +53K +9.47% $0.00 612K Jan 18, 2023 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person's time-based restricted stock units reported in this row will vest as to 33.33% on the first anniversary of the Grant Date, 33.33% on the second anniversary of the Grant Date, and 33.34% on the third anniversary of the Grant Date, in each case, subject to the Reporting Person's continued service through each applicable vesting date.
F2 The Reporting Person's performance-based restricted stock units reported in this row will vest subject to the achievement of a specified volume weighted average trading price ("VWAP") measured over the last 20 trading days of the performance period that begins on the Grant Date and ends on January 18, 2026, subject to the Reporting Person's continued service through the end of the performance period. Subject to the foregoing conditions, achievement of a VWAP of $8.74, $10.75 and $13.05, will result in the vesting of 17,660, 17,660 and 17,660 of the performance-based restricted stock units, respectively.
F3 Includes 74,711 shares of Class A common stock that are not subject to vesting or transfer restrictions and 431,730 options to purchase Class A common stock that are fully vested and not subject to transfer restrictions.