Schatz Scott 4
4 · Townsquare Media, Inc. · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
Townsquare Media (TSQ) EVP Scott Schatz Sells 55,926 Shares
What Happened
Scott Schatz, Executive Vice President — Finance, Operations & Technology at Townsquare Media (TSQ), reported two open-market sales. On 2026-03-20 he sold 21,090 shares at a weighted average price of $5.02 for proceeds of $105,872, and on 2026-03-23 he sold 34,836 shares at a weighted average price of $5.25 for proceeds of $182,889. Combined proceeds across both transactions were about $288,761. These were disposals (sales), which are typically routine and do not by themselves indicate company outlook.
Key Details
- Transaction dates & prices:
- 2026-03-20: 21,090 shares sold, weighted avg price $5.02 (range reported $5.00–$5.13). (Footnote F1)
- 2026-03-23: 34,836 shares sold, weighted avg price $5.25 (range reported $5.25–$5.29). (Footnote F2)
- Total shares sold: 55,926; total proceeds ≈ $288,761.
- Reported holdings (per filing footnotes):
- Includes 38,051 Class A shares not subject to restrictions and 30,000 fully vested Class A options. (F3)
- Includes 21,846 Class B shares not subject to restrictions and 175,000 fully vested Class B options. (F4)
- Filing timeliness: The Form 4 was filed on 2026-03-24 for transactions on Mar 20 and Mar 23; the filing is marked late (L). Late filings may be reviewed by the SEC and can reduce transparency for investors.
- Footnote details: The reported prices are weighted averages; the filing offers to provide a breakdown of the individual trade prices on request (F1, F2).
Context
These were open-market sales (code S) — a disposition of shares rather than a purchase or option exercise. The filing indicates holdings of both Class A and Class B shares plus vested options; it does not indicate additional transactions (e.g., gift, exercise-and-sell) here. As with all insider sales, this is factual reporting of transactions and should not be taken alone as a signal of management’s view of the company.
Insider Transaction Report
- Sale
Class A Common Stock
[F1]2026-03-20$5.02/sh−21,090$105,872→ 102,887 total - Sale
Class A Common Stock
[F2][F3]2026-03-23$5.25/sh−34,836$182,889→ 68,051 total
- 196,846
Class B Common Stock
[F4]
Footnotes (4)
- [F1]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.00 to $5.13 The Reporting Person undertakes, upon request by the Staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, to provide full information regarding the number of shares sold at each separate price.
- [F2]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.25 to $5.29 The Reporting Person undertakes, upon request by the Staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, to provide full information regarding the number of shares sold at each separate price.
- [F3]Includes 38,051 shares of Class A common stock that are not subject to vesting or transfer restrictions and 30,000 options to purchase Class A common stock that are fully vested and not subject to transfer restrictions.
- [F4]Includes 21,846 shares of Class B common stock that are not subject to vesting or transfer restrictions and 175,000 options to purchase Class B common stock that are fully vested and not subject to transfer restrictions.