Statement of Changes in Beneficial Ownership (4)
November 24 2020 - 4:38PM
Edgar (US Regulatory)
FORM 4
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
FIELD JOSEPH M |
2. Issuer Name and Ticker or Trading Symbol
ENTERCOM COMMUNICATIONS CORP
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ETM
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chairman Emeritus |
(Last)
(First)
(Middle)
2400 MARKET STREET., 4TH FLOOR |
3. Date of Earliest Transaction
(MM/DD/YYYY)
11/23/2020 |
(Street)
PHILADELPHIA, PA 19103
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Class A Common Stock, par value $0.01 per share | | | | | | | | 1057211 (1) | D | |
Class A Common Stock, par value $0.01 per share | 11/23/2020 | | S | | 1000000 (2) | D | $2.57 | 13151336 | I | By Spouse and by Trust |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. 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 | 7. Title and Amount of Securities Underlying Derivative Security (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) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Class B Common Stock, par value $.01 per share | (3) | 11/23/2020 | | S (4) | | | 1000000 | (3) | (3) | Class A Common Stock | 1000000 | $2.57 | 1295949 (5) | D | |
Explanation of Responses: |
(1) | Amount shown includes 1,000,000 shares which were previously indirectly held by the Reporting Person in a grantor retained annuity trust and are now directly held by the Reporting Person |
(2) | In connection with his estate planning, the Reporting Person sold 1,000,000 shares of Class A Common Stock to his Daughter. |
(3) | Class B Common Stock is convertible to Class A Common Stock, at any time, on a one for one basis and has no expiration date. |
(4) | In connection with his estate planning, the Reporting Person sold 1,000,000 shares of Class B Common Stock to his Son. |
(5) | Amount shown includes 1,295,949 shares which were previously indirectly held by the Reporting Person in three grantor retained annuity trusts and are now directly held by the Reporting Person. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
FIELD JOSEPH M 2400 MARKET STREET., 4TH FLOOR PHILADELPHIA, PA 19103 | X | X | Chairman Emeritus |
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Signatures
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Joseph M. Field by /s/ Andrew P. Sutor, IV, authorized signatory | | 11/24/2020 |
**Signature of Reporting Person | Date |
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