Robert L. Worshek - 17 Jan 2024 Form 4 Insider Report for Townsquare Media, Inc. (TSQ)

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	TSQ	Option to Purchase Class A Common Stock	Award	$0	+68.1K	+54.47%	$0.00	193K	17 Jan 2024	Class A Common Stock	68.1K	$10.50	Direct	F1
transaction	TSQ	Option to Purchase Class A Common Stock	Award	$0	+73.7K	+38.19%	$0.00	267K	17 Jan 2024	Class A Common Stock	73.7K	$10.50	Direct	F2, F3

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

Id	Content
F1	The Reporting Person's time-based options reported in this row will vest as to 33.33% on the first anniversary of the Grant Date, 33.33% on the second anniversary of the Grant Date, and 33.34% on the third anniversary of the Grant Date, in each case, subject to the Reporting Person's continued service through each applicable vesting date.
F2	The Reporting Person's options reported in this row will vest and become exercisable subject to the achievement of a specified volume weighted average trading price ("VWAP") over a period of 20 consecutive trading days, in each case subject to the achievement of such VWAP during the period beginning on the Grant Date and ending on the third anniversary of the Grant Date, and the Reporting Person's continued service through each vesting date. Subject to the foregoing conditions, achievement of a VWAP of $12.40, $14.40, and $16.40, will result in the vesting of 23,425, 24,611, and 25,702 options, respectively.
F3	Includes 47,500 options to purchase Class A common stock that are fully vested and not subject to transfer restrictions.