Epperson 2022 GST Trust 5
5 · SALEM MEDIA GROUP, INC. /DE/ · Filed Feb 14, 2023
Insider Transaction Report
Form 5
Epperson 2022 GST Trust
10% Owner
Transactions
- Gift
Class B Common Stock
2022-05-03+2,776,848→ 2,776,848 total→ Class A Common Stock (2,776,848 underlying)
Footnotes (2)
- [F1]Each share of Class B Common Stock is convertible into one of share of Class A Common Stock at any time, at the holder's election and upon the occurrence of other events set forth in the Issuer's Amended and Restated Certificate of Incorporation.
- [F2]On May 3, 2022, Stuart W. Epperson transferred 2,776,848 shares of Class B Common Stock to the Epperson 2022 GST Trust for the benefit of his descendants. Stuart W. Epperson has not retained any voting or dispositive power over such gifted shares. This was a bona fide gift with no payment in consideration.