Richard J. Schmaeling - May 10, 2022 Form 4 Insider Report for AUDACY, INC. (AUDA)

Role: CFO & EVP Strat. Initiatives
Signature: Richard J. Schmaeling by /s/ Andrew P. Sutor, IV, Authorized Signatory
Stock symbol: AUDA
Transactions as of: May 10, 2022
Transactions value $: $0
Form type: 4
Date filed: 5/11/2022, 05:26 PM
Previous filing: Apr 4, 2022
Next filing: Feb 14, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AUDA	Class A Common Stock, par value $0.01 per share	Award	$0	+46.3K	+7.93%	$0.00	629K	May 10, 2022	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares represent restricted stock units subject to time-based vesting, as described in the grant instrument. While this grant was approved by the Issuer on December 1, 2021 (in connection with the Issuer's 2021 annual equity grant program), such grant was subject to the Issuer's shareholders approving a new equity compensation plan at the 2022 annual meeting of shareholders, which occurred on May 10, 2022.
F2	During the first quarter of 2022, the Reporting Person purchased 2,000 shares of Class A Common Stock through the Audacy Employee Stock Purchase Plan.

Content

These shares represent restricted stock units subject to time-based vesting, as described in the grant instrument. While this grant was approved by the Issuer on December 1, 2021 (in connection with the Issuer's 2021 annual equity grant program), such grant was subject to the Issuer's shareholders approving a new equity compensation plan at the 2022 annual meeting of shareholders, which occurred on May 10, 2022.

During the first quarter of 2022, the Reporting Person purchased 2,000 shares of Class A Common Stock through the Audacy Employee Stock Purchase Plan.