Christopher J. Henderson - Mar 14, 2023 Form 4 Insider Report for SALEM MEDIA GROUP, INC. /DE/ (SALM)

Role
EVP, General Counsel & Secy
Signature
/s/Christopher J. Henderson
Stock symbol
SALM
Transactions as of
Mar 14, 2023
Transactions value $
$0
Form type
4
Date filed
3/22/2023, 04:28 PM
Previous filing
Oct 25, 2021

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 Options (Right to buy) Award $0 +100K $0.00 100K Mar 14, 2023 Class A Common Stock 100K $1.06 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The option was granted under the Issuer's Amended and Restated 1999 Stock Incentive Plan in a transaction exempt under Rule 16(b)-3. The options shall vest as follows: 33,334 shares shall vest on March 15, 2026, 33,333 shares shall vest on March 15, 2027, and 33,333 shares shall vest on March 15, 2028.
F2 The options shall expire as follows: The first installment of 33,334 shares will expire on March 15, 2031, the second installment of 33,333 shares will expire on March 15, 2032; and the last installment of 33,333 shares will expire on March 15, 2033.