SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2019

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

9.    SUBSEQUENT EVENTS:

On July 1, 2019, the Company authorized repurchases up to $800,000 through December 31, 2019.

Since July 1, 2019 and through July 29, 2019, the Company repurchased 291,077 shares of Class D common stock in the amount of $644,000 at an average price of $2.21 per share and repurchased 6,204 shares of Class A common stock in the amount of $14,000 at an average price of $2.20 per share.

On June 12, 2019, the Compensation Committee awarded Catherine Hughes, Chairperson, 393,685 restricted shares of the Company’s Class D common stock, and stock options to purchase 174,971 shares of the Company’s Class D common stock.  The grants were effective July 5, 2019 and will vest on January 6, 2020. 

On June 12, 2019, the Compensation Committee awarded Alfred Liggins, Chief Executive Officer and President, 656,142 restricted shares of the Company’s Class D common stock, and stock options to purchase 291,619 shares of the Company’s Class D common stock.  The grants were effective July 5, 2019 and will vest on January 6, 2020. 

On June 12, 2019, the Compensation Committee awarded Peter Thompson, Chief Financial Officer, 224,654 restricted shares of the Company’s Class D common stock, and stock options to purchase 99,846 shares of the Company’s Class D common stock.  The grants were effective July 5, 2019 and will vest on January 6, 2020. 

On June 12, 2019, the Compensation Committee awarded David Kantor, Chief Executive Officer – Radio Division, 195,242 restricted shares of the Company’s Class D common stock, and stock options to purchase 86,774 shares of the Company’s Class D common stock.  The grants were effective July 5, 2019 and will vest on January 6, 2020.