EPPERSON STUART W 5
5 · SALEM MEDIA GROUP, INC. /DE/ · Filed Feb 14, 2023
Insider Transaction Report
Form 5
EPPERSON STUART W
DirectorChairman of the Board10% Owner
Transactions
- Gift
Class B Common Stock
2022-05-03−2,776,848→ 0 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 an irrevocable 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.