Salem Media Group Announces the Issuance of SALM Stock to Co-Founder and Executive Chairman, Edward G. Atsinger III, in Lieu of Cash, and the Removal of Stock Forfeiture Provision for Previous Restricted Stock Grants

Rhea-AI Summary

Salem Media Group (OTCQX: SALM) announced that Co-Founder and Executive Chairman Edward G. Atsinger III will receive the remaining portion of his 2025 compensation as Restricted Class A Common Stock instead of cash.

The Stock Compensation totals 218,067 shares (equal to $168,500) for compensation due between Sept 21, 2025 and Dec 31, 2025, and will vest 12 months from the grant date with no additional vesting restrictions. The Board also waived the forfeiture provision for an earlier 400,000 restricted shares grant from January 17, 2025, allowing those unvested shares to remain in effect after Dec 31, 2025 while keeping the original time and performance vesting schedule.

Positive

• 218,067 shares issued in lieu of $168,500 cash compensation
• Stock award vests 12 months from grant date
• Board waived forfeiture for 400,000 previously granted restricted shares

Negative

• None.

CAMARILLO, Calif., Oct. 16, 2025 (GLOBE NEWSWIRE) -- Salem Media Group, Inc. (OTCQX: SALM) announced today that Edward G. Atsinger III, Co-Founder and Executive Chairman of the Company, has agreed to receive the remaining portion of his 2025 compensation in the form of Restricted Class A Common Stock rather than cash. This decision reflects Mr. Atsinger’s continued commitment to the long-term success and stability of the Company.

The stock award, totaling 218,067 shares (“Stock Compensation”), represents the cash compensation amount due for the period between September 21, 2025, and December 31, 2025, totaling $168,500. The Stock Compensation will vest twelve (12) months from the grant date and will not be subject to any other vesting restrictions.

Additionally, in January 2025, Mr. Atsinger was granted 400,000 Restricted Class A Common Stock in the Company (“Stock Bonus”), pursuant to a Grant Memo dated January 17, 2025. Under the Company’s Stock Incentive Plan, unvested shares typically terminate upon an employee’s separation. However, in acknowledgment of Mr. Atsinger’s decades of leadership and enduring contributions, the Board has waived the forfeiture provision to allow his Stock Compensation and Stock Bonus to remain in effect after December 31, 2025. The existing time and performance-based vesting schedule for the Stock Bonus will remain unchanged.

About Salem Media Group

Salem Media Group is America’s premier multimedia company specializing in Christian and conservative content. Through its national radio network, digital platforms, and publishing brands, Salem reaches millions daily with powerful content that drives the national conversation. Learn more at salemmedia.com.

Company Contact:
Publicity@salemmedia.com

FAQ

How many SALM shares did Edward Atsinger receive instead of cash in October 2025?

He received 218,067 shares of Restricted Class A Common Stock in lieu of $168,500 in cash.

When will the 218,067 SALM shares granted to Edward Atsinger vest?

The Stock Compensation will vest twelve months from the grant date.

What change did the Salem board make to Edward Atsinger's January 2025 restricted stock grant?

The board waived the stock forfeiture provision so his 400,000 restricted shares will remain in effect after Dec 31, 2025 while keeping the existing vesting schedule.

What cash amount does the 218,067 SALM shares represent?

The award represents $168,500 of cash compensation due for Sept 21, 2025 through Dec 31, 2025.

Will the time and performance vesting for the 400,000 SALM shares change after the waiver?

No. The existing time and performance-based vesting schedule for the 400,000 shares remains unchanged.

Why did Edward Atsinger accept stock instead of cash for the remainder of 2025 compensation?

The company said the decision reflects Mr. Atsinger’s continued commitment to the long-term success and stability of the company.