CUMULUS MEDIA INC: president - operations Robert J Walker sold 196,673 shares

What happened

• Robert J Walker, president - operations, reported a disposition to the issuer (code D) of 196,673 shares on Oct 16, 2026. The filing lists the price as N/A and no total value is provided.
• The filing notes that Oct 16, 2026 was the Effective Date of the company’s Chapter 11 plan of reorganization.

Key details

• Transaction date and price: Oct 16, 2026; price N/A; transaction type: disposition to issuer (D).
• Shares owned after the transaction: the filing states that on Oct 16, 2026 all issued and outstanding shares of the company’s common stock were cancelled and extinguished pursuant to the confirmed plan.
• Relevant footnotes: F1 describes the Chapter 11 filings and plan; F2 confirms the Bankruptcy Court’s confirmation and Oct 16, 2026 effective date; F3 states that all issued and outstanding common stock were cancelled on the Effective Date.
• Filing timeliness: the Form 4 does not indicate a late filing.

Why it may matter

• The reported disposition was to the issuer and occurred on the effective date of the company’s confirmed Chapter 11 plan, which the filing says resulted in cancellation of issued common stock.
• The filing does not show why the insider traded or why the company acted.