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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 | ||||||||
Restricted Stock Unit | (3) | 07/09/2009 | M | 2,779 (3) | (3) | (3) | Common Stock (3) | 2,779 | (3) | 0 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
PATTIZ NORM C/O WESTWOOD ONE, INC. 40 WEST 57TH STREET NEW YORK, NY 10019 |
X | Chairman of the Board |
David Hillman, as attorney-in-fact for Norm Pattiz | 07/13/2009 | |
**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) | Acquired in connection with the settlement of RSUs upon which 16 dividend equivalents accrued prior to vesting. |
(2) | Includes 291,710 shares of Class B stock that converted on a 1:1 basis into common stock in connection with the change in control described in this filing. |
(3) | Grant of RSUs on December 1, 2006 that were scheduled to vest in equal one-third increments on December 1, 2007, December 1, 2008 and December 1, 2009. As a result of the conversion by Gores Radio Holdings, LLC of 3,500 shares of Series A-1 Convertible Preferred Stock into 103,512,913 shares of common stock on July 9, 2009, a "change in control" was deemed to have occurred under the terms of the Company's 2005 Equity Compensation Plan. Accordingly, on July 9, 2009, 2,779 shares that were scheduled to vest on December 1, 2009 were settled by delivery of a corresponding number of shares of the Issuer's common stock. |