Power Eugene Allen - Mar 14, 2023 Form 4 Insider Report for SALEM MEDIA GROUP, INC. /DE/ (SALM)

Role
President Broadcast Media
Signature
Christopher J. Henderson, as Attorney-in-Fact for Power, Eugene Allen pursuant to a continuing Power of Attorney
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
Jan 10, 2023

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 +20K $0.00 20K Mar 14, 2023 Class A Common Stock 20K $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 option shall vest as follows: 5,000 shares shall vest on March 15, 2024, 5,000 shares shall vest on March 15, 2025, 5,000 shares shall vest on March 15, 2026, and 5,000 shares shall vest on March 15, 2027.
F2 The options shall expire as follows: the first installment of 5,000 shares shall expire on March 15, 2029, the second installment of 5,000 shares shall expire on March 15, 2030, the third installment of 5,000 shares shall expire on March 15, 2031 and the last installment of 5,000 shares shall expire on March 15, 2032.