[Form 4] Townsquare Media, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Townsquare Media (TSQ) executive Scott Schatz, EVP, Finance Op and Tech, reported a purchase of 855 shares of Class A common stock at $6.299 on 11/03/2025. The filing states the shares were acquired in a dividend reinvestment transaction.

Following the transaction, beneficial ownership is 54,920 Class A (including 34,920 shares not subject to restrictions and 20,000 fully vested options) and 196,846 Class B (including 21,846 shares not subject to restrictions and 175,000 fully vested options). Ownership is reported as Direct.

Insider Trade Summary

Net Buyer: 855 shares ($5,386)

Net Buy 2 txns

Insider Schatz Scott

Role EVP, Finance Op and Tech

Bought 855 shs ($5K)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock	855	$6.299	$5K
holding	Class B Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 54,920 shares (Direct); Class B Common Stock — 196,846 shares (Direct)

Footnotes (1)

1. The shares reported herein represent shares acquired in a dividend reinvestment transaction. Includes 34,920 shares of Class A common stock that are not subject to vesting or transfer restrictions and 20,000 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 →

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
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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 NY 10577

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/03/2025

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	11/03/2025		P(1)		855	A	$6.299	54,920(2)	D
Class B Common Stock								196,846(3)	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The shares reported herein represent shares acquired in a dividend reinvestment transaction.

2. Includes 34,920 shares of Class A common stock that are not subject to vesting or transfer restrictions and 20,000 options to purchase Class A common stock that are fully vested and not subject to transfer restrictions.

3. 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	11/06/2025
	** 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).
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