SEC Form 4 · accession 0001209191-16-131802
CUMULUS MEDIA INC · CMIA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John Abbot
Officer — Chief Financial Officer
Period of report
Jul 1, 2016
Accepted (ET)
Jul 6, 2016 · 5:41 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001058623
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F1,F2 | — | Jul 1, 2016 | A | 1,500,000 | A | — | Jul 1, 2026 | Class A Common Stock, $.01 par value | 1,500,000 | 1,500,000 | D |
Explanation of responses
- F1Grant of stock options with 750,000 shares of Class A common stock underlying the options exercisable at a price of $0.32 per share; 250,000 of the options exercisable at $1.00 per share; 250,000 of the options exercisable at $2.00 per share; and 250,000 of the options exercisable at $3.00 per share, in each case subject to the vesting schedule described below.
- F230% of the award (representing 450,000 shares of Class A common stock) vests on each of the first two anniversaries of the grant date, and 20% of the award (representing 300,000 shares) vests on the next two anniversaries thereof.