Stuart Rosenstein - Apr 4, 2024 Form 4 Insider Report for Townsquare Media, Inc. (TSQ)

Role
EVP and CFO
Signature
/s/ Allison Zolot as Attorney-in- Fact for Stuart Rosenstein
Stock symbol
TSQ
Transactions as of
Apr 4, 2024
Transactions value $
-$2,833,881
Form type
4
Date filed
4/8/2024, 10:40 AM
Previous filing
Jan 2, 2024
Next filing
Aug 2, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TSQ Class B Common Stock Options Exercise $6.84M +783K +158.9% $8.74 1.28M Apr 4, 2024 Direct F1
transaction TSQ Class B Common Stock Sale -$9.68M -783K -61.38% $12.36 493K Apr 4, 2024 Direct F1, F2
holding TSQ Class A Common Stock 353K Apr 4, 2024 Direct F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TSQ Option to Purchase Class B Common Stock Options Exercise $0 -783K -40.28% $0.00 1.16M Apr 4, 2024 Class B Common Stock 783K $8.74 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Options to Purchase Class A Common Stock reported in Table II were expiring shortly, and were exercised for cash as a "deemed" issuance of shares by the Issuer, followed by an immediate "deemed" reacquisition of such shares by the Issuer for fair market value. No Common Stock was actually issued in connection with this exercise.
F2 Includes 117,213 shares of Class B common stock that are not subject to vesting or transfer restrictions and 375,450 Class B options to purchase Class B common stock that are fully vested and not subject to transfer restrictions.
F3 Includes: i) 57,500 shares of Class A common stock that are not subject to vesting or transfer restrictions; ii) 114,784 restricted stock units and iii) 180,681 options to purchase Class A common stock that are fully vested and not subject to transfer restrictions.
F4 All of the shares subject to this option are fully vested and exercisable as of the date hereof.
F5 Column 8 has been intentionally left blank because the transaction was an exercise of a derivative security.