David P. Santrella - Nov 8, 2021 Form 4 Insider Report for SALEM MEDIA GROUP, INC. /DE/ (SALM)

Role
President - Broadcast Media
Signature
/s/Christopher J. Henderson, Attorney-in-fact for David P. Santrella pursuant to a continuing Power of Attorney
Stock symbol
SALM
Transactions as of
Nov 8, 2021
Transactions value $
-$133,411
Form type
4
Date filed
11/10/2021, 07:12 PM
Next filing
Jan 4, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SALM Class A Common Stock Options Exercise $110K +40K +111.57% $2.74 75.9K Nov 8, 2021 Direct
transaction SALM Class A Common Stock Sale -$163K -40K -52.73% $4.06* 35.9K Nov 8, 2021 Direct F1
transaction SALM Class A Common Stock Options Exercise $7.35K +5K +13.95% $1.47 40.9K Nov 9, 2021 Direct
transaction SALM Class A Common Stock Options Exercise $33.5K +25K +61.2% $1.34 65.9K Nov 9, 2021 Direct
transaction SALM Class A Common Stock Sale -$121K -30K -45.56% $4.05* 35.9K Nov 9, 2021 Direct F2

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 SALM Stock Option (right to buy) Options Exercise $0 -40K -100% $0.00* 0 Nov 8, 2021 Class A Common Stock 40K $2.74 Direct F3
transaction SALM Stock Options (Right to buy) Options Exercise $0 -5K -5% $0.00 95K Nov 9, 2021 Class A Common Stock 5K $1.47 Direct F4
transaction SALM Stock Options (Right to buy) Options Exercise $0 -25K -25% $0.00 75K Nov 9, 2021 Common Stock 25K $1.34 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction is exempt under Rule 16b-3 and was executed in multiple trades at prices ranging from $3.98 to $4.14. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F2 This transaction is exempt under Rule 16b-3 and was executed in multiple trades at prices ranging from $4.00 to $4.20. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F3 This option is fully vested.
F4 100,000 options were granted on January 2, 2020.The options vest annually in five (5) equal installments commencing January 2, 2021.
F5 100,000 options were granted on March 3, 2020.The options vest annually in four (4) equal installments commencing March 3, 2021.