Townsquare Media, Inc. Insider Trading Activity

Townsquare Media, Inc. COO Erik Hellum reported two stock sales in January 2026.

Accepted by SEC EDGAR 01/21/2026 - 04:20 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Townsquare Media, Inc. COO Erik Hellum reported two stock sales in January 2026. On January 16, he sold 7,437 shares of Class A common stock at $5.54 per share, and on January 20 he sold 6,522 shares at $5.57 per share. The filing explains that these shares were sold to cover tax withholding requirements following the vesting of restricted stock units, which is a common administrative transaction.

After these sales, Hellum beneficially owned 969,648 shares of Class A common stock. This total includes 132,553 shares that are not subject to vesting or transfer restrictions, 434,901 restricted stock units, and 402,194 fully vested stock options that are not subject to transfer restrictions. The filing also notes that 52,980 performance-based restricted stock units were cancelled on January 18, 2026.

Insider Trade Summary

Net Seller: 13,959 shares

Net Sell 2 txns

Insider Hellum Erik

Role COO

Sold 13,959 shs ($78K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	6,522	$5.57	$36K
Sale	Class A Common Stock	7,437	$5.54	$41K

Holdings After Transaction: Class A Common Stock — 969,648 shares (Direct)

Footnotes (2)

1. F1. Represents shares sold to cover tax withholding requirements following the vesting of restricted stock units.
2. F2. Includes: i) 132,553 shares of Class A common stock that are not subject to vesting or transfer restrictions; ii) 434,901 restricted stock units, net of 52,980 performance-based restricted stock units that were cancelled on January 18, 2026, and iii) 402,194 options to purchase Class A common stock that are fully vested and not subject to transfer restrictions.

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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^*

Hellum Erik

(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)
	COO

3. Date of Earliest Transaction (Month/Day/Year)
01/16/2026

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	01/16/2026		S		7,437(1)	D	$5.54	1,029,150	D
Class A Common Stock	01/20/2026		S		6,522(1)	D	$5.57	969,648(2)	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. Represents shares sold to cover tax withholding requirements following the vesting of restricted stock units.

2. Includes: i) 132,553 shares of Class A common stock that are not subject to vesting or transfer restrictions; ii) 434,901 restricted stock units, net of 52,980 performance-based restricted stock units that were cancelled on January 18, 2026, and iii) 402,194 options to purchase Class A common stock that are fully vested and not subject to transfer restrictions.

Remarks:

	/s/ Erik Hellum	01/21/2026
	** 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.