CMLSQ · Cumulus Media Inc
Substantial doubt about the company's ability to continue as a going concern.
“Based on the Company's filing for relief under Chapter 11 of the Bankruptcy Code which constituted an event of default under certain of the Company's debt documents, as well as the uncertainty surrounding such filings, the Company determined that there is substantial doubt as to the Company's ability to continue as a going concern for a period of 12 months following the date of issuance of this Quarterly Report on Form 10-Q.”View the 10-Q filed Aug 14, 2026
Trades by corporate insiders — officers, directors and holders of more than 10% of the shares — disclosed to the SEC on Forms 3, 4 and 5. Form 4 must be filed within two business days of the trade.
| Date | Insider | Role | Type | Security | Shares |
|---|---|---|---|---|---|
| 2025-02-21 | JONES COLLIN R. |
See Remarks |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
This amount represents 519 vested performance-based restricted stock units awarded on February 5, 2021, 1,285 vested performance-based restricted stock units awarded on February 3, 2022, 706 vested performance-based restricted stock units awarded on March 3, 2023, and 1,516 vested performance-based restricted stock units awarded on February 17, 2024. |
Class A Common Stock, par value $0.0000001 per share
|
4,026 |
| 2025-02-21 | Denning Richard |
See Remarks |
Tax↓
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Shares withheld to cover the tax withholding obligation due to the vesting of performance-based restricted stock units. |
Class A Common Stock, par value $0.0000001 per share
|
2,592 |
| 2025-02-21 | Milner David Edward |
President - Operations |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
This amount represents 591 vested performance-based restricted stock units awarded on February 5, 2021, 1,430 vested performance-based restricted stock units awarded on February 3, 2022, 710 vested performance-based restricted stock units awarded on March 3, 2023, and 1,584 vested performance-based restricted stock units awarded on February 17, 2024. |
Class A Common Stock, par value $0.0000001 per share
|
4,315 |
| 2025-02-21 | Walker Robert J |
President - Operations |
Tax↓
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Shares withheld to cover the tax withholding obligation due to the vesting of performance-based restricted stock units. |
Class A Common Stock, par value $0.0000001 per share
|
4,193 |
| 2025-02-21 | Berner Mary G. |
Director, President & CEO |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
This amount represents 3,059 vested performance-based restricted stock units awarded on February 5, 2021, 6,777 vested performance-based restricted stock units awarded on February 3, 2022, 6,739 vested performance-based restricted stock units awarded on March 3, 2023, and 14,548 vested performance-based restricted stock units awarded on February 17, 2024. |
Class A Common Stock, par value $0.0000001 per share
|
31,123 |
| 2025-02-21 | Lopez-Balboa Francisco J |
See Remarks |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
This amount represents 2,122 vested performance-based restricted stock units awarded on February 5, 2021, 4,484 vested performance-based restricted stock units awarded on February 3, 2022, 3,611 vested performance-based restricted stock units awarded on March 3, 2023, and 7,788 vested performance-based restricted stock units awarded on February 17, 2024. |
Class A Common Stock, par value $0.0000001 per share
|
18,005 |
| 2025-02-21 | JONES COLLIN R. |
See Remarks |
Tax↓
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Shares withheld to cover the tax withholding obligation due to the vesting of performance-based restricted stock units. |
Class A Common Stock, par value $0.0000001 per share
|
3,933 |
| 2025-02-21 | Denning Richard |
See Remarks |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
This amount represents 700 vested performance-based restricted stock units awarded on February 5, 2021, 1,662 vested performance-based restricted stock units awarded on February 3, 2022, 805 vested performance-based restricted stock units awarded on March 3, 2023, and 1,804 vested performance-based restricted stock units awarded on February 17, 2024. |
Class A Common Stock, par value $0.0000001 per share
|
4,971 |
| 2025-02-21 | Walker Robert J |
President - Operations |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
This amount represents 596 vested performance-based restricted stock units awarded on February 5, 2021, 1,429 vested performance-based restricted stock units awarded on February 3, 2022, 712 vested performance-based restricted stock units awarded on March 3, 2023, and 1,588 vested performance-based restricted stock units awarded on February 17, 2024. |
Class A Common Stock, par value $0.0000001 per share
|
4,325 |
| 2025-02-21 | Milner David Edward |
President - Operations |
Tax↓
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Shares withheld to cover the tax withholding obligation due to the vesting of performance-based restricted stock units. |
Class A Common Stock, par value $0.0000001 per share
|
4,203 |
| 2025-02-21 | Lopez-Balboa Francisco J |
See Remarks |
Tax↓
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Shares withheld to cover the tax withholding obligation due to the vesting of performance-based restricted stock units. |
Class A Common Stock, par value $0.0000001 per share
|
14,178 |
| 2025-02-21 | Berner Mary G. |
Director, President & CEO |
Tax↓
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Shares withheld to cover the tax withholding obligation due to the vesting of performance-based restricted stock units. |
Class A Common Stock, par value $0.0000001 per share
|
38,507 |
| 2024-05-06 | Kushner Brian |
Director |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of restricted stock units, which vest in four equal installments on each of June 30, 2024, September 30, 2024, December 31, 2024 and March 31, 2025. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
29,069 |
| 2024-05-06 | Gillman Joan H |
Director |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of restricted stock units, which vest in four equal installments on each of June 30, 2024, September 30, 2024, December 31, 2024 and March 31, 2025. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
29,069 |
| 2024-05-06 | Blank Matthew |
Director |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of restricted stock units, which vest in four equal installments on each of June 30, 2024, September 30, 2024, December 31, 2024 and March 31, 2025. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
29,069 |
| 2024-05-06 | Castro Thomas H |
Director |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of restricted stock units, which vest in four equal installments on each of June 30, 2024, September 30, 2024, December 31, 2024 and March 31, 2025. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
29,069 |
| 2024-05-06 | FARRINGTON DEBORAH A |
Director |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of restricted stock units, which vest in four equal installments on each of June 30, 2024, September 30, 2024, December 31, 2024 and March 31, 2025. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
29,069 |
| 2024-05-06 | HOBSON ANDREW W |
Director |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of restricted stock units, which vest in four equal installments on each of June 30, 2024, September 30, 2024, December 31, 2024 and March 31, 2025. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
52,468 |
| 2024-02-26 | Lopez-Balboa Francisco J |
See Remarks |
Tax↓
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Shares withheld to cover the tax withholding obligation due to the vesting of performance-based restricted stock units. |
Class A Common Stock, par value $0.0000001 per share
|
13,619 |
| 2024-02-26 | JONES COLLIN R. |
See Remarks |
Tax↓
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Shares withheld to cover the tax withholding obligation due to the vesting of performance-based restricted stock units. |
Class A Common Stock, par value $0.0000001 per share
|
3,700 |
| 2024-02-26 | Berner Mary G. |
Director, President & CEO |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
This amount represents 8,437 vested performance-based restricted stock units awarded on February 13, 2020, 9,487 vested performance-based restricted stock units awarded on February 5, 2021, 20,726 vested performance-based restricted stock units awarded on February 3, 2022, and 20,892 vested performance-based restricted stock units awarded on March 3, 2023. |
Class A Common Stock, par value $0.0000001 per share
|
59,542 |
| 2024-02-26 | Lopez-Balboa Francisco J |
See Remarks |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
This amount represents 5,625 vested performance-based restricted stock units awarded on March 23, 2020, 5,250 vested performance-based restricted stock units awarded on February 5, 2021, 11,066 vested performance-based restricted stock units awarded on February 3, 2022, and 8,902 vested performance-based restricted stock units awarded on March 3, 2023. |
Class A Common Stock, par value $0.0000001 per share
|
30,843 |
| 2024-02-26 | Milner David Edward |
President - Operations |
Tax↓
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Shares withheld to cover the tax withholding obligation due to the vesting of performance-based restricted stock units. |
Class A Common Stock, par value $0.0000001 per share
|
3,857 |
| 2024-02-26 | JONES COLLIN R. |
See Remarks |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
This amount represents 1,312 vested performance-based restricted stock units awarded on February 13, 2020, 1,406 vested performance-based restricted stock units awarded on February 5, 2021, 3,506 vested performance-based restricted stock units awarded on February 3, 2022, and 1,929 vested performance-based restricted stock units awarded on March 3, 2023. |
Class A Common Stock, par value $0.0000001 per share
|
8,153 |
| 2024-02-26 | Walker Robert J |
President - Operations |
Tax↓
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Shares withheld to cover the tax withholding obligation due to the vesting of performance-based restricted stock units. |
Class A Common Stock, par value $0.0000001 per share
|
3,472 |
| 2024-02-26 | Walker Robert J |
President - Operations |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
This amount represents 1,500 vested performance-based restricted stock units awarded on February 13, 2020, 1,612 vested performance-based restricted stock units awarded on February 5, 2021, 3,892 vested performance-based restricted stock units awarded on February 3, 2022, and 1,929 vested performance-based restricted stock units awarded on March 3, 2023. |
Class A Common Stock, par value $0.0000001 per share
|
8,933 |
| 2024-02-26 | Berner Mary G. |
Director, President & CEO |
Tax↓
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Shares withheld to cover the tax withholding obligation due to the vesting of performance-based restricted stock units. |
Class A Common Stock, par value $0.0000001 per share
|
32,604 |
| 2024-02-26 | Denning Richard |
See Remarks |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
This amount represents 1,500 vested performance-based restricted stock units awarded on February 13, 2020, 1,462 vested performance-based restricted stock units awarded on February 5, 2021, 3,506 vested performance-based restricted stock units awarded on February 3, 2022, and 1,689 vested performance-based restricted stock units awarded on March 3, 2023. |
Class A Common Stock, par value $0.0000001 per share
|
8,157 |
| 2024-02-26 | Denning Richard |
See Remarks |
Tax↓
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Shares withheld to cover the tax withholding obligation due to the vesting of performance-based restricted stock units. |
Class A Common Stock, par value $0.0000001 per share
|
2,646 |
| 2024-02-26 | Milner David Edward |
President - Operations |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
This amount represents 1,500 vested performance-based restricted stock units awarded on February 13, 2020, 1,612 vested performance-based restricted stock units awarded on February 5, 2021, 3,892 vested performance-based restricted stock units awarded on February 3, 2022, and 1,929 vested performance-based restricted stock units awarded on March 3, 2023. |
Class A Common Stock, par value $0.0000001 per share
|
8,933 |
| 2024-02-17 | Lopez-Balboa Francisco J |
See Remarks |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of time-based restricted stock units granted on February 17, 2024, which vest 25% each year on the grant anniversary date over the four-year period following the grant date. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
158,568 |
| 2024-02-17 | JONES COLLIN R. |
See Remarks |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of time-based restricted stock units granted on February 17, 2024, which vest 25% each year on the grant anniversary date over the four-year period following the grant date. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
56,985 |
| 2024-02-17 | Milner David Edward |
President - Operations |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of time-based restricted stock units granted on February 17, 2024, which vest 25% each year on the grant anniversary date over the four-year period following the grant date. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
59,463 |
| 2024-02-17 | Walker Robert J |
President - Operations |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of time-based restricted stock units granted on February 17, 2024, which vest 25% each year on the grant anniversary date over the four-year period following the grant date. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
59,463 |
| 2024-02-17 | Berner Mary G. |
Director, President & CEO |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of time-based restricted stock units granted on February 17, 2024, which vest 25% each year on the grant anniversary date over the four-year period following the grant date. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
297,315 |
| 2024-02-17 | Denning Richard |
See Remarks |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of time-based restricted stock units granted on February 17, 2024, which vest 25% each year on the grant anniversary date over the four-year period following the grant date. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
52,030 |
| 2024-02-08 | Renew Group Private Ltd |
10% Owner |
Exercise↓
|
Put Option (obligation to buy)
|
5,900 |
| 2024-02-08 | Renew Group Private Ltd |
10% Owner |
Exercise↑
|
Class A Common Stock, par value $0.0000001 per share
|
5,900 |
| 2023-04-26 | HOBSON ANDREW W |
Director |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of restricted stock units, which vest in four equal installments on each of June 30, 2023, September 30, 2023, December 31, 2023 and March 31, 2024. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
44,359 |
| 2023-04-26 | Gillman Joan H |
Director |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of restricted stock units, which vest in four equal installments on each of June 30, 2023, September 30, 2023, December 31, 2023 and March 31, 2024. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
24,577 |
| 2023-04-26 | FARRINGTON DEBORAH A |
Director |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of restricted stock units, which vest in four equal installments on each of June 30, 2023, September 30, 2023, December 31, 2023 and March 31, 2024. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
24,577 |
| 2023-04-26 | Blank Matthew |
Director |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of restricted stock units, which vest in four equal installments on each of June 30, 2023, September 30, 2023, December 31, 2023 and March 31, 2024. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
24,577 |
| 2023-04-26 | Castro Thomas H |
Director |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of restricted stock units, which vest in four equal installments on each of June 30, 2023, September 30, 2023, December 31, 2023 and March 31, 2024. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
24,577 |
| 2023-04-26 | Kushner Brian |
Director |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of restricted stock units, which vest in four equal installments on each of June 30, 2023, September 30, 2023, December 31, 2023 and March 31, 2024. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
24,577 |
| 2023-03-03 | Walker Robert J |
President - Operations |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of time-based restricted stock units granted on March 3, 2023, which vest 25% each year on the grant anniversary date over the four-year period following the grant date. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
42,885 |
| 2023-03-03 | Berner Mary G. |
Director, President & CEO |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of time-based restricted stock units granted on March 3, 2023, which vest 25% each year on the grant anniversary date over the four-year period following the grant date. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
222,851 |
| 2023-03-03 | Lopez-Balboa Francisco J |
See Remarks |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of time-based restricted stock units granted on March 3, 2023, which vest 25% each year on the grant anniversary date over the four-year period following the grant date. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
118,701 |
| 2023-03-03 | Milner David Edward |
President - Operations |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of time-based restricted stock units granted on March 3, 2023, which vest 25% each year on the grant anniversary date over the four-year period following the grant date. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
42,885 |
| 2023-03-03 | Denning Richard |
See Remarks |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
Represents grant of time-based restricted stock units granted on March 3, 2023, which vest 25% each year on the grant anniversary date over the four-year period following the grant date. Each restricted stock unit represents a right to receive one share of Class A common stock. |
Class A Common Stock, par value $0.0000001 per share
|
37,525 |
| 2023-02-22 | Walker Robert J |
President - Operations |
Award↑
Filing footnotes — Class A Common Stock, par value $0.0000001 per share (Direct)
This amount represents 2,000 vested performance-based restricted stock units awarded on February 13, 2020, 2,150 vested performance-based restricted stock units awarded on February 5, 2021 and 5,190 vested performance-based restricted stock units awarded on February 3, 2022. |
Class A Common Stock, par value $0.0000001 per share
|
9,340 |