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). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
CUMULUS MEDIA INC [ CMLS ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 12/30/2008 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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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 | 12/30/2008 | A | 10,258 | A | (1) | 16,258 | I | See Footnote(2) | ||
Class A Common Stock | 12/30/2008 | A | 3,334 | A | (3) | 1,665,152 | D(4)(5) |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 | ||||||||
Director Stock Options (Right to Buy) | $14.62 | 12/30/2008 | D | 40,000 | (6) | 03/01/2012 | Class A Common Stock | 40,000 | (1) | 160,000 | I | See Footnote(2) | |||
Director Stock Options (Right to Buy) | $14.03 | 12/30/2008 | D | 40,000 | (7) | 03/04/2013 | Class A Common Stock | 40,000 | (1) | 120,000 | I | See Footnote(2) | |||
Director Stock Options (Right to Buy) | $19.38 | 12/30/2008 | D | 40,000 | (8) | 05/13/2014 | Class A Common Stock | 40,000 | (1) | 80,000 | I | See Footnote(2) | |||
Director Stock Options (Right to Buy) | $14.36 | 12/30/2008 | D | 40,000 | (9) | 04/07/2015 | Class A Common Stock | 40,000 | (1) | 40,000 | I | See Footnote(2) | |||
Director Stock Options (Right to Buy) | $9.4 | 12/30/2008 | D | 40,000 | (10) | 08/04/2016 | Class A Common Stock | 40,000 | (1) | 0 | I(2) | See Footnote | |||
Director Stock Options (Right to Buy) | $6.44 | 12/30/2008 | D | 25,000 | (11) | 10/04/2010 | Class A Common Stock | 25,000 | (3) | 40,000 | D(4)(5) | ||||
Director Stock Options (Right to Buy) | $5.92 | 12/30/2008 | D | 40,000 | (12) | 04/12/2011 | Class A Common Stock | 40,000 | (3) | 0 | D(4)(5) | ||||
Director Stock Options (Right to Buy) | $2.54 | 12/30/2008 | A | 13,498 | (13) | 12/30/2018 | Class A Common Stock | 13,498 | (1) | 13,498 | I | See Footnote(2) | |||
Director Stock Options (Right to Buy) | $2.92 | 12/30/2008 | A | 13,498 | (13) | 12/30/2018 | Class A Common Stock | 13,498 | (1) | 26,996 | I | See Footnote(2) | |||
Director Stock Options (Right to Buy) | $3.3 | 12/30/2008 | A | 13,497 | (13) | 12/30/2018 | Class A Common Stock | 13,497 | (1) | 40,493 | I | See Footnote(2) | |||
Director Stock Options (Right to Buy) | $2.54 | 12/30/2008 | A | 3,928 | (13) | 12/30/2018 | Class A Common Stock | 3,928 | (3) | 3,928 | D(4)(5) | ||||
Director Stock Options (Right to Buy) | $2.92 | 12/30/2008 | A | 3,927 | (13) | 12/30/2018 | Class A Common Stock | 3,927 | (3) | 7,855 | D(4)(5) | ||||
Director Stock Options (Right to Buy) | $3.3 | 12/30/2008 | A | 3,927 | (13) | 12/30/2018 | Class A Common Stock | 3,927 | (3) | 11,782 | D(4)(5) |
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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Explanation of Responses: |
1. On December 30, 2008, the Issuer cancelled, pursuant to the Issuer's option exchange program, options granted to Robert H. Sheridan on: March 1, 2002; March 4, 2003; May 13, 2004; April 7, 2005 and August 4, 2006. In exchange for such options, Robert H. Sheridan received options to purchase 40,493 shares of Class A Common Stock and 10,258 shares of restricted Class A Common Stock. |
2. Represents shares of restricted Class A Common Stock and options to purchase shares of Class A Common Stock awarded to Robert H. Sheridan, who serves on the board of directors of the Issuer as a designee of BA Capital Company, L.P. ("BA Capital"). Pursuant to the policies of BA Capital and its affiliates, Mr. Sheridan is deemed to hold these shares and options for the benefit of BA Capital. BA Capital may be deemed the indirect beneficial owner of the shares of restricted Class A Common Stock and options. Additionally, the shares of restricted Class A Common Stock and options may be deemed to be beneficially owned by (a) BA SBIC Management, LLC, the general partner of BA Capital, (b) BA Equity Management, L.P., the sole member of BA SBIC Management, LLC, (c) BA Equity Management GP, LLC, the general partner of BA Equity Management, L.P., and (d) J. Travis Hain, the managing member of BA Equity Management GP, LLC. Mr. Hain disclaims beneficial ownership of such securities. |
3. On December 30, 2008, the Issuer cancelled, pursuant to the Issuer's option exchange program, options granted to BA Capital on October 4, 2000 and April 12, 2001. In exchange for such options, BA Capital received options to purchase 11,782 shares of Class A Common Stock and 3,334 shares of restricted Class A Common Stock. |
4. BA Capital holds 843,584 shares of Class A Common Stock of the Issuer. These securities may be deemed to be beneficially owned by (a) BA SBIC Management, LLC, the general partner of BA Capital, (b) BA Equity Management, L.P., the sole member of BA SBIC Management, LLC, (c) BA Equity Management GP, LLC, the general partner of BA Equity Management, L.P., and (d) J. Travis Hain, the managing member of BA Equity Management GP, LLC. Mr. Hain disclaims beneficial ownership of such securities. |
5. Banc of America Capital Investors SBIC, L.P. holds 821,568 shares of Class A Common Stock. These securities may be deemed to be beneficially owned by (a) Banc of America Capital Management SBIC, LLC, the general partner of Banc of America Capital Investors SBIC, L.P., (b) Banc of America Capital Management, L.P., the sole member of Banc of America Capital Management SBIC, LLC, (c) BACM I GP, LLC, the general partner of Banc of America Capital Management, L.P., and (d) Mr. Hain, the managing member of BACM I GP, LLC. Mr. Hain disclaims beneficial ownership of all such securities. |
6. Cancelled options provided for vesting in four equal annual installments beginning on March 1, 2002. |
7. Cancelled options provided for vesting in four equal annual installments beginning on March 4, 2003. |
8. Cancelled options provided for vesting in four equal annual installments beginning on May 13, 2004. |
9. Cancelled options provided for vesting in four equal annual installments beginning on April 7, 2005. |
10. Cancelled options provided for vesting in four equal annual installments beginning on August 4, 2006. |
11. Cancelled options provided for vesting in four equal annual installments beginning on October 4, 2000. |
12. Cancelled options provided for vesting in four equal annual installments beginning on April 12, 2001. |
13. Options become exercisable at the rate of (1) 50% on the second anniversary of the date of grant and (2) 25% on each of the two succeeding anniversaries thereafter. |
/s/ J. Travis Hain, Managing Member of BA Equity Management GP, LLC, the general partner of BA Equity Management, L.P., the sole member of BA SBIC Management, LLC, general partner of BA Capital Company, L.P. | 01/02/2009 | |
/s/ J. Travis Hain, Managing Member of BACM I GP, LLC, the general partner of Banc of America Capital Management, L.P., the sole member of Banc of America Capital Management SBIC, LLC, general partner of Banc of America Capital Investors SBIC, L.P. | 01/02/2009 | |
** 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. |