Cumulus Media director disposes of 184,155 shares
The disposition coincided with the effective date of a reorganization plan that canceled all issued and outstanding common shares.
Sentiment and the balance of points
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Form Type
4
Rhea-AI Filing Summary
Cumulus Media Inc. director Andrew W. Hobson reported a disposition to the issuer of 184,155 shares of Class A Common Stock on October 16, 2026, leaving 0 shares reported following the transaction. On that date, the Plan became effective and the Company Parties emerged from Chapter 11. Under the Plan, all issued and outstanding common shares, including Class A Common Stock, were canceled and extinguished.
Insider Trade Summary
Disposition: 184,155 shares
Disposition
1 txn
Insider
HOBSON ANDREW W
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class A Common Stock, par value $0.0000001 per share F1, F2, F3 | 184,155 | -- | -- |
Holdings After Transaction:
Class A Common Stock, par value $0.0000001 per share — 0 shares (Direct)
Footnotes (3)
- F1. On March 4, 2026, the Company and certain of its direct and indirect subsidiaries (collectively with the Company, the "Company Parties") commenced filing voluntary petitions (the "Chapter 11 Cases") in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court") seeking relief under Chapter 11 of Title 11 of the United States Code. On March 5, 2026, the Company Parties filed the Disclosure Statement for the Joint Prepackaged Chapter 11 Plan of Reorganization of Cumulus Media Inc. and Its Debtor Affiliates and the Joint Prepackaged Chapter 11 Plan of Reorganization of Cumulus Media Inc. and Its Debtor Affiliates in the Chapter 11 Cases in the Bankruptcy Court. On April 13, 2026, the Company Parties filed the Modified Joint Prepackaged Chapter 11 Plan of Reorganization of Cumulus Media Inc. and Its Debtor Affiliates (as may be amended or supplemented from time to time in accordance with its terms, the "Plan").
- F2. On April 15, 2026, the Bankruptcy Court entered an order confirming the Plan (the "Confirmation Order"). On October 16, 2026 (the "Effective Date"), the Company Parties satisfied the conditions to effectiveness of the Plan set forth in the Confirmation Order and the Plan, the Plan became effective in accordance with its terms and the Company Parties emerged from Chapter 11.
- F3. On the Effective Date, all of the Company's issued and outstanding shares of common stock, including the Company's Class A Common Stock, par value $0.0000001 per share, were cancelled and extinguished pursuant to the Plan.
Key Figures
Class A Common Stock disposed: 184,155 shares
Shares following transaction: 0 shares
Chapter 11 petitions commenced: March 4, 2026
+2 more
5 metrics
Class A Common Stock disposed
184,155 shares
Andrew W. Hobson; October 16, 2026
Shares following transaction
0 shares
Andrew W. Hobson's reported direct holdings
Chapter 11 petitions commenced
March 4, 2026
Company and certain direct and indirect subsidiaries
Plan confirmation order
April 15, 2026
Entered by the Bankruptcy Court
Plan effective date and emergence from Chapter 11
October 16, 2026
Company Parties emerged from Chapter 11
Key Terms
Chapter 11 Cases, Disclosure Statement, Plan of Reorganization, Effective Date
4 terms
Chapter 11 Cases regulatory
"commenced filing voluntary petitions (the "Chapter 11 Cases")"
Disclosure Statement regulatory
"filed the Disclosure Statement for the Joint Prepackaged Chapter 11 Plan"
Plan of Reorganization regulatory
"Modified Joint Prepackaged Chapter 11 Plan of Reorganization"
A plan of reorganization is a formal blueprint used during bankruptcy to rearrange a company’s debts, assets and ownership so it can keep operating. It lays out who gets paid, what creditors and shareholders receive, and how the business will change going forward; think of it as a court-approved debt and recovery roadmap that decides whether investors keep value, receive new securities or cash, or lose their stake.
Effective Date regulatory
"On October 16, 2026 (the "Effective Date")"
The effective date is the specific calendar day when a contract, regulatory action, corporate change, or financial disclosure officially begins to apply and take legal or operational effect. For investors, it marks the moment rules, obligations, ownership, pricing, or reporting change—similar to the exact minute a light switch is flipped—so it determines when rights, liabilities, or market impacts start and which periods or transactions are affected.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When did Cumulus Media emerge from Chapter 11?
The Company Parties emerged from Chapter 11 on October 16, 2026, when the Plan became effective. The Bankruptcy Court had entered an order confirming the Plan on April 15, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
