SEC Form 4 · accession 0001067837-19-000006
ENTERCOM COMMUNICATIONS CORP · ETM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph M Field
Officer — Chairman Emeritus · Director
Period of report
Feb 1, 2019
Accepted (ET)
Feb 13, 2019 · 5:13 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001067837
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common Stock, par value $0.01 per shareF1,F2 | Feb 1, 2019 | M | 3,000 | $1.34 | A | 10,178,344 | I | By Spouse and by Trust |
| Class A Common Stock, par value $0.01 per share | holding | — | — | — | 40,990 | D |
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)F3 | $1.34 | Feb 1, 2019 | M | 3,000 | D | Feb 10, 2013 | Feb 10, 2019 | Class A Common Stock, par value $.01 per share | 3,000 | 0 | D |
Explanation of responses
- F1These shares are indirectly beneficially owned by the Reporting Person as follows: (i) 6,530,817 shares held by a trust for the benefit of the Reporting Person for which the Reporting Person is a trustee; (ii) 3,295,949 held by the Reporting Person as the trustee of a grantor retained annuity trust for the benefit of the daughter of the Reporting Person for which the Reporting Person is the sole trustee, (iii) 21,578 shares held by the Reporting Person as a trustee of a trust established for the benefit of the sister-in-law of the Reporting Person; and (iv) 330,000 shares held by the spouse of the Reporting Person.
- F2Upon exercise, the Reporting Person transferred these shares to a trust for the benefit of the Reporting Person for which the Reporting Person is a trustee, thus the form of ownership was immediately changed from direct to indirect.
- F3The Reporting Person was granted 3,000 options on February 10, 2009. These options vested in equal installments on February 10, 2010, 2011, 2012 and 2013.