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Cumulus Media Inc.'s Chief Executive Officer was just granted 4,000,000 options

Mary G. Berner, Cumulus Media Inc.'s Chief Executive Officer and a director of the company, just received 4,000,000 options from the company. The strike price of the options received was $0.77, and these expire on October 13, 2025. Berner now owns at least 4,000,000 options on the company.

Some additional info was provided as follows:

Stock option grant to purchase 4,000,000 shares of the Company's Class A Common Stock at an exercise price equal to the fair market value on the date of grant. The option to purchase 2,000,000 shares vests on each of the first...