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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
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 control number. | SEC 1474 (9-02) |
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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (Right to Buy) | $ 8.52 | 05/26/2007 | A | 131,447 | (2) | 05/25/2017 | Common Stock | 131,447 | $ 0 | 281,447 (3) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
FREEDLINE ROBERT G C/O CITADEL BROADCASTING CORPORATION 7201 W. LAKE MEAD BLVD LAS VEGAS, NV 89128 |
Chief Financial Officer |
/s/ Robert G. Freedline | 05/30/2007 | |
**Signature of Reporting Person | Date |
* | 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). |
(1) | Includes 66,667 shares of restricted stock which shall vest in one-half installments annually, beginning on May 25, 2008, and 117,371 shares of restricted stock which shall vest in one-third installments annually, beginning on May 25, 2008, in each case subject to terms and conditions that do not differ materially from the Issuer's Form of Restricted Stock Grant for grants made under the Issuer's Amended and Restated 2002 Long-Term Incentive Plan. |
(2) | Options become exercisable to the extent they have vested. Options vest with respect to shares of Common Stock in three equal installments commencing on May 25, 2008, subject to terms and conditions that do not differ materially from the Issuer's Form of Stock Option Agreement for grants made under the Issuer's Amended and Restated 2002 Long-Term Incentive Plan, except as described in footnote (3) of this Form 4. |
(3) | Includes options to acquire 150,000 shares of Common Stock granted to Mr. Freedline on May 26, 2006 and options to acquire 131,447 shares of Common Stock granted to Mr. Freedline on May 26, 2007 (collectively, the "Options"), in each case pursuant to the terms of the Employment Agreement by and between the Issuer and Mr. Freedline dated May 26, 2006 (the "Employment Agreement"). Upon the payment by the Issuer of the special cash distribution to holders of record of Common Stock in connection with the transactions contemplated by the Merger Agreement dated as of February 6, 2006 and amended on November 19, 2006, by and among the Issuer, Alphabet Acquisition Corp., The Walt Disney Company and ABC Radio Holdings, Inc. (f/k/a ABC Chicago FM Radio, Inc.), the per share exercise price of each Option and number of shares of Common Stock subject to that Option shall be adjusted in accordance with the formula contained in the Employment Agreement. |