Townsquare Media (TSQ) EVP sells 55,926 Class A shares

Rhea-AI Filing Summary

Townsquare Media EVP Scott Schatz reported open-market sales of Class A Common Stock. On March 20, he sold 21,090 shares at a weighted average price of $5.02 per share, with trades ranging from $5.00 to $5.13. On March 23, he sold 34,836 shares at a weighted average price of $5.25, within a range of $5.25 to $5.29. These sales total 55,926 shares. After the transactions, he holds 68,051 Class A-related interests, including 38,051 shares and 30,000 fully vested options, and 196,846 Class B-related interests, including 21,846 shares and 175,000 fully vested options.

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

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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)
03/20/2026

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	03/20/2026		S		21,090	D	$5.02(1)	102,887	D
Class A Common Stock	03/23/2026		S		34,836	D	$5.25(2)	68,051(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 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 $5.13 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.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.25 to $5.29 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 38,051 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	03/24/2026
	** 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)

FAQ

What insider transaction did Townsquare Media (TSQ) report for Scott Schatz?

Townsquare Media reported that EVP Finance, Operations and Technology Scott Schatz sold Class A Common Stock in two open-market transactions, totaling 55,926 shares, at weighted average prices slightly above $5 per share across the disclosed trading dates.

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

Scott Schatz sold 21,090 Class A shares at a weighted average of $5.02 and 34,836 shares at a weighted average of $5.25, with individual trades ranging from $5.00 to $5.29 during the reported transactions.

How many Townsquare Media (TSQ) Class A shares does Scott Schatz hold after the sale?

After the reported sales, Scott Schatz holds 68,051 Class A-related interests, consisting of 38,051 shares of Class A Common Stock and 30,000 fully vested options to purchase additional Class A shares, according to the filing footnote disclosures.

What are Scott Schatz’s Class B holdings in Townsquare Media (TSQ) after these transactions?

The filing shows Scott Schatz with 196,846 Class B-related interests following the transactions, including 21,846 Class B shares and 175,000 fully vested options to purchase Class B shares, all held directly and not subject to vesting restrictions.

Were Scott Schatz’s Townsquare Media (TSQ) stock sales single-price trades or ranges?

The prices reported are weighted averages. The $5.02 average reflects trades between $5.00 and $5.13, while the $5.25 average reflects trades between $5.25 and $5.29, with detailed breakdowns available upon request.

Does the Townsquare Media (TSQ) filing show any option exercises by Scott Schatz?

The data indicate no option exercises in this Form 4. Instead, the footnotes describe existing fully vested options: 30,000 linked to Class A stock and 175,000 linked to Class B stock, which remain outstanding after the reported sales.