Bill Wilson - Dec 28, 2023 Form 4 Insider Report for Townsquare Media, Inc. (TSQ)

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TSQ	Class A Common Units	Award	$0	+115K	+4.99%	$0.00	2.42M	Dec 28, 2023	Direct	F1
transaction	TSQ	Class A Common Units	Award	$0	+115K	+4.75%	$0.00	2.53M	Dec 28, 2023	Direct	F2, F3

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

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") over a period of 20 consecutive trading days, in each case subject to the achievement of such VWAP during the period beginning on the Grant Date and ending on the third anniversary of the Grant Date, and the Reporting Person's continued service through each vesting date. Subject to the foregoing conditions, achievement of a VWAP of $12.40, $14.40, and $16.40, will result in the vesting of 38,258, 38,258 and 38,268 of the performance-based restricted stock units, respectively.
F3	Includes: i) 443,273 shares of Class A common stock that are not subject to vesting or transfer restrictions; ii) 560,694 restricted stock units and iii) 1,526,588 options to purchase Class A common stock that are fully vested and not subject to transfer restrictions.