Townsquare Media director awarded 24,030 restricted shares

Townsquare Media director Gary D. Way received a new stock grant for his board service.

Rhea-AI Filing Summary

Townsquare Media director Gary D. Way received a new stock grant for his board service. On 01/14/2026 he was awarded 24,030 shares of Class A common stock as restricted stock, valued at $5.41 per share on the grant date. The award vests in full on the first anniversary of the grant, meaning all of these shares are scheduled to become fully owned at that time if vesting conditions are met.

After this grant, Way beneficially owned a total of 50,712 Class A shares in direct ownership. This total includes 26,682 Class A shares that are already fully vested and not subject to vesting or transfer restrictions.

Insider Trade Summary

Grant/Award: 24,030 shares

Grant/Award 1 txn

Insider Way Gary D

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	24,030	$5.41	$130K

Holdings After Transaction: Class A Common Stock — 50,712 shares (Direct)

Footnotes (2)

1. F1. The shares reported herein represent a grant of restricted stock made to the Reporting Person in respect of his services on the Company's Board of Directors. This award of restricted stock vests with respect to 100% of the shares on the first anniversary of the grant.
2. F2. Includes 26,682 shares of Class A common stock that are not subject to vesting or transfer restrictions.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Townsquare Media (TSQ) report for Gary D. Way?

The company reported that director Gary D. Way received a grant of 24,030 shares of Townsquare Media Class A common stock as restricted stock on 01/14/2026.

What type of shares did Gary D. Way receive in this Townsquare Media (TSQ) Form 4?

He received restricted stock in the form of 24,030 Class A common shares, granted as compensation for his service on the Board of Directors.

When do Gary D. Way’s new restricted Townsquare Media (TSQ) shares vest?

The restricted stock award is scheduled to vest with respect to 100% of the 24,030 shares on the first anniversary of the grant.

How many Townsquare Media (TSQ) shares does Gary D. Way own after this grant?

Following the grant, Gary D. Way beneficially owns 50,712 Class A common shares of Townsquare Media in direct ownership.

How many of Gary D. Way’s Townsquare Media (TSQ) shares are already unrestricted?

Within his total holdings, 26,682 Class A common shares are not subject to vesting or transfer restrictions and are fully unrestricted.

Was this Townsquare Media (TSQ) insider transaction a sale or a grant?

The reported transaction was a grant of restricted stock to Gary D. Way, not a sale of shares. It increased his direct holdings.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 01/16/2026 - 04:31 PM Learn about SEC filing dates

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^*

Way Gary D

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/14/2026

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(1)	01/14/2026		A		24,030	A	$5.41	50,712(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. The shares reported herein represent a grant of restricted stock made to the Reporting Person in respect of his services on the Company's Board of Directors. This award of restricted stock vests with respect to 100% of the shares on the first anniversary of the grant.

2. Includes 26,682 shares of Class A common stock that are not subject to vesting or transfer restrictions.

Remarks:

	/s/ Gary D. Way	01/16/2026
	** 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.