EVP Schatz trades Townsquare (NYSE: TSQ) stock grant and sale

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Townsquare Media EVP Scott Schatz reported a compensation grant and a stock sale in the company’s shares. On March 18, he received 84,906 shares of Class A common stock as a stock award that vests immediately. On March 19, he executed an open-market sale of 28,980 Class A shares at a weighted average price of $5.08 per share, with individual trades ranging from $5.00 to $5.26. After these transactions, he directly holds 123,977 Class A shares, which include 93,977 unrestricted shares and 30,000 fully vested options to purchase Class A stock, as well as 196,846 Class B shares, including 21,846 unrestricted Class B shares and 175,000 fully vested Class B options.

Insider Trade Summary

Net Seller: 28,980 shares ($147,218)

Net Sell 3 txns

Insider Schatz Scott

Role EVP, Finance Op and Tech

Sold 28,980 shs ($147K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	28,980	$5.08	$147K
Grant/Award	Class A Common Stock	84,906	$5.83	$495K
holding	Class B Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 123,977 shares (Direct); Class B Common Stock — 196,846 shares (Direct)

Footnotes (1)

The shares reported herein represent a grant of a stock award, which vests immediately. 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 $5.26 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. Includes 93,977 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. 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.

Form 4 Insider Transactions: What Each Field Means →

03/20/2026 - 04:16 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Schatz Scott

(Last)

(First)

(Middle)

C/O TOWNSQUARE MEDIA, INC.

4 MANHATTANVILLE ROAD SUITE 107

(Street)

PURCHASE

NEW YORK

10577

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Townsquare Media, Inc. [ TSQ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP, Finance Op and Tech

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	03/18/2026		A		84,906	A⁽¹⁾	$5.83	152,957	D
Class A Common Stock	03/19/2026		S		28,980	D	$5.08⁽²⁾	123,977⁽³⁾	D
Class B Common Stock								196,846⁽⁴⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The shares reported herein represent a grant of a stock award, which vests immediately.

2. 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 $5.26 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.

3. Includes 93,977 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.

4. 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.

Remarks:

	/s/ Scott Schatz	03/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did TSQ EVP Scott Schatz report in this Form 4?

Scott Schatz reported receiving a stock award and selling shares. He was granted 84,906 Class A shares that vest immediately, then sold 28,980 Class A shares in an open-market transaction, all while retaining a substantial Class A and Class B equity position.

How many Townsquare Media (TSQ) shares did Scott Schatz sell and at what price?

Scott Schatz sold 28,980 shares of Townsquare Media Class A common stock. The weighted average sale price was $5.08 per share, with individual trades executed between $5.00 and $5.26, according to the detailed pricing disclosure in the filing footnotes.

What stock award did Scott Schatz receive from Townsquare Media (TSQ)?

Schatz received a grant of 84,906 shares of Townsquare Media Class A common stock. The filing states this stock award vests immediately, meaning the shares are fully earned at grant, rather than vesting over a future schedule or being subject to time-based restrictions.

What are Scott Schatz’s Class A holdings in Townsquare Media after these transactions?

Following the reported grant and sale, Schatz directly holds 123,977 Class A-related interests. This includes 93,977 Class A shares not subject to vesting or transfer restrictions and 30,000 options to purchase Class A shares that are fully vested and not subject to transfer restrictions.

What Class B position in Townsquare Media (TSQ) does Scott Schatz report?

Schatz reports a total of 196,846 Class B-related interests. This consists of 21,846 Class B common shares with no vesting or transfer restrictions and 175,000 fully vested options to purchase Class B stock, all held directly according to the ownership details disclosed.

Does the Form 4 indicate any unvested or restricted Townsquare Media (TSQ) equity for Scott Schatz?

The filing highlights fully vested holdings and unrestricted shares. Footnotes specify 93,977 unrestricted Class A shares plus 30,000 fully vested Class A options, and 21,846 unrestricted Class B shares plus 175,000 fully vested Class B options, with the new 84,906-share award vesting immediately.