Cumulus Media Inc: director Steven M Galbraith sold 575,200 shares

What happened

• Steven M Galbraith, a director, disposed to the issuer (D) a total of 575,200 shares on Oct 16, 2026 (175,200 shares and 400,000 shares). The filing shows no price or total value for these transactions (N/A).

Key details

• Transaction date(s) and price(s): Oct 16, 2026 — disposition to the issuer (D) — 175,200 shares; Oct 16, 2026 — disposition to the issuer (D) — 400,000 shares. Price and value: not provided (N/A).
• Shares owned after the transaction: not reported in the filing.
• Footnotes that matter:
  • F1: Company and subsidiaries filed voluntary Chapter 11 petitions on Mar 4, 2026; disclosure statement filed Mar 5, 2026; modified plan filed Apr 13, 2026.
  • F2: Bankruptcy Court confirmed the plan on Apr 15, 2026; the plan became effective on Oct 16, 2026 (the Effective Date).
  • F3: On the Effective Date, all issued and outstanding shares of common stock were cancelled and extinguished pursuant to the plan.
  • F4: The reporting person is the managing member of Kindred Capital Advisors LLC and may be deemed to have beneficial ownership of Class A shares held by Kindred Capital; he disclaims beneficial ownership except for his pecuniary interest.
• Filing timeliness: the filing does not indicate it was late.

Why it may matter

• These were dispositions to the issuer (not open-market sales) reported on the plan Effective Date when the plan became effective and common stock was cancelled (see F2, F3).
• The reporting person may be deemed to have beneficial ownership of shares held by Kindred Capital (F4).
• The filing does not show why the insider traded or why the company acted.