Cumulus media inc: evp, general counsel & secretary Denning Richard sold 181,723 shares

What happened

• Denning Richard, EVP, General Counsel & Secretary, disposed 181,723 shares to the issuer on Oct 16, 2026. The Form 4 reports the disposition as to the issuer with price listed as N/A and no total value shown.
• The filing includes footnotes saying the company emerged from Chapter 11 on Oct 16, 2026 (the Effective Date) and that, on that date, all issued and outstanding shares of the company's common stock were cancelled and extinguished pursuant to the confirmed plan.

Key details

• Transaction date and type: Oct 16, 2026; disposition to the issuer (code D); price N/A.
• Shares owned after the transaction: the filing states that all issued and outstanding common stock were cancelled on Oct 16, 2026, so post-transaction holdings of the cancelled class would be 0 shares.
• Relevant footnotes: F1 (Chapter 11 cases commenced Mar 4, 2026; plan filed), F2 (plan confirmed Apr 15, 2026; plan became effective Oct 16, 2026), F3 (all issued and outstanding common stock cancelled on the Effective Date).
• Timeliness: Form filed Oct 16, 2026; the filing does not indicate a late filing.

Why it may matter

• This was a disposition to the issuer tied to the company's Chapter 11 reorganization and plan effectiveness, not an options exercise or a gift.
• The filing does not show whether the insider received cash or other consideration for the disposition beyond what is described.
• A filing does not show why the insider traded or why the company acted.