{"filings":[{"id":238923,"accession_number":"0001193125-24-015453","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2024-01-25T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"Salem Media amends credit agreement: LC limit raised to $3M, consents to sale-leaseback with $6.2M debt prepayment","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Letter of credit limit increased from $1.0M to $3.0M under the Siena Lending Group facility.","Lender consents to sale-leaseback of Camarillo, CA property; at least $6,231,900 in net proceeds to prepay revolving loans.","Post-sale, aggregate revolving loans and undrawn LCs must remain at least $6.5M (minimum usage threshold).","Sublimit on advances against eligible real estate reduced quarterly by $178,571 starting April 1, 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":256409,"accession_number":"0001193125-23-305906","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-12-29T23:59:59+00:00","items":["3.01","9.01"],"status":"ready","headline":"Salem Media Group voluntarily delists from Nasdaq, plans OTCQX listing by Jan 19","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Salem Media notified Nasdaq of voluntary delisting, effective ~Jan 18, 2024.","Company failed to regain compliance with Nasdaq minimum bid price rule.","Board accepted Special Committee recommendation for delisting, citing significant annual cost savings.","Common stock expected to be quoted on OTCQX starting Jan 19, 2024, pending OTC approval.","Company intends to file Form 15 by March 29, 2024 to deregister and suspend SEC reporting."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":256408,"accession_number":"0001193125-23-303756","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-12-27T23:59:59+00:00","items":["1.01","1.02","2.03","8.01","9.01"],"status":"ready","headline":"Salem Media closes $26M asset-based revolver, refinances Wells Fargo facility","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["New $26M 3-year revolving credit facility with Siena Lending Group, replacing prior Wells Fargo facility.","Interest at 1-month SOFR + 4.50% (floor 4.30%); unused commitment fee 0.35% per annum.","Borrowing base on accounts receivable and certain mortgaged real estate; initial $3M availability block subject to EBITDA-based reduction.","First-priority lien on receivables, inventory, deposit accounts, certain real estate; second-priority on other assets.","Intercreditor agreement amended with U.S. Bank, collateral agent for 7.125% Senior Secured Notes due 2028."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":256407,"accession_number":"0001193125-23-287578","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-12-01T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"Salem Media extends forbearance to Dec 18; availability minimum raised to $5M then $7.5M","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Forbearance period extended through December 18, 2023.","Minimum Availability increased to $5M from Dec 1-8 and $7.5M thereafter.","Outstanding Revolving Loans and L/C usage: $20,143,543.39 as of Nov 30, 2023.","Designated Events of Default continue; amendment includes release and reaffirmation of obligations.","Amendment also raises minimum availability to $7.5M after Dec 8."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":256406,"accession_number":"0001193125-23-276041","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-11-13T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Salem Media Q3 revenue down 5% to $63.5M; net loss widens to $31.3M on $35.1M impairment","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total revenue $63.5M (-5.0% YoY); net loss $31.3M ($1.15 EPS) vs $11.9M loss prior year.","Operating loss $36.3M includes $35.1M broadcast license impairment; adjusted EBITDA up 9.3% to $2.5M.","Broadcast revenue down 4.2% to $49.0M; station operating income fell 31.8% to $6.8M.","Agreed to sell Salem Church Products for $30M in Q4 2023; sold Greenville stations for $6.8M in Nov.","Q4 2023 outlook: total revenue to decline 6-8% YoY; excluding political and asset sales, decline 2-4%."],"consensus_eps_estimate":-0.0459,"consensus_eps_actual":-1.6,"consensus_revenue_estimate":null,"consensus_revenue_actual":192760000.0,"consensus_period":"2023-Q3","consensus_source":"xbrl+finnhub","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":256405,"accession_number":"0001193125-23-270512","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-11-03T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"Salem Media extends forbearance to Nov 27, shortens credit maturity to Feb 1, 2024","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Forbearance period extended through November 27, 2023, from the earlier November 2 date.","Credit agreement maturity shortened to February 1, 2024.","Minimum availability requirement raised from $1M to $2M starting November 7, 2023.","Operating cash balances limited to amounts for payables and payroll due within 3 days.","Borrowers reaffirm ~$19.2 million in revolving loans and LC usage as of November 1, 2023."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":256404,"accession_number":"0001193125-23-250383","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-10-04T23:59:59+00:00","items":["1.01","8.01","9.01"],"status":"ready","headline":"Salem Media Group to sell Salem Church Products to Gloo for $30M; expects close Nov 1","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Sale price includes $22.5M cash and $7.5M secured promissory note; total $30M.","Gloo Holdings to issue Salem 833,333 Series A Preferred Units with a put option for min $10M after Jan 2027.","Salem grants $10M advertising credit to Gloo (spot/digital ads) to use by Dec 2028.","Salem agrees to 5-year non-compete in church resources ecommerce retail business.","Transition services agreement to support Gloo through migration post-closing."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":273811,"accession_number":"0001193125-23-247394","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-09-29T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"Salem Media extends forbearance period to Nov 3, 2023; availability requirement rises to $5M","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Forbearance period extended through Nov 3, 2023; availability minimum of $1M until then, $5M thereafter.","Outstanding revolving loans and letter of credit usage: $18.84M as of Sept 26, 2023.","Designated events of default remain continuing; no cure provided.","Loan parties release all claims against lenders and reaffirm obligations and liens."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":273810,"accession_number":"0001193125-23-227628","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-09-01T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"Salem Media extends forbearance period to Sep 29, 2023; reduces cash disposition threshold","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Forbearance period extended through September 29, 2023 under Eighth Amendment to Credit Agreement.","Cash/cash-equivalent requirement for permitted dispositions reduced from 100% to 75% during forbearance.","Designated Events of Default remain continuing; company acknowledges $20.2M in revolving loans outstanding.","Amendment includes release of claims by borrowers and reaffirmation of obligations without offset.","Changes effective August 30, 2023; lenders include Wells Fargo as administrative agent."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":273809,"accession_number":"0001193125-23-210683","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-08-11T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"Salem Media Group enters forbearance through Aug 31; credit cut to $25M","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Lenders forbear on specified defaults (incl. fixed charge coverage ratio breach) until August 31, 2023.","Revolving commitments reduced to $25,000,000 from prior level.","Interest rate margin increased to SOFR +4.00% or base +3.00%, effective July 1, 2023.","Fixed charge coverage ratio replaced with minimum $1M availability covenant.","Default rate removed for forbearance period; lenders may re-impose after expiration."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":273808,"accession_number":"0001193125-23-206218","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-08-08T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Salem Media Q2 revenue down 4.2% to $65.8M; net loss $7.1M vs prior-year net income $9.1M","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss per diluted share $0.26 vs $0.33 income YoY; Adjusted EBITDA fell 77% to $2.7M.","Broadcast revenue declined 5.3% to $49.7M; Station Operating Income down 43.5%.","Company not in compliance with fixed charge coverage ratio at June 30; bank forbearance signed through August with revolver reduced to $25M and rate +200 bps.","Impairment charges totaling $2.9M (goodwill in Townhall and broadcast licenses in Portland/SF).","Q3 outlook: total revenue projected to decline 3%-5% from $66.9M in Q3 2022."],"consensus_eps_estimate":-0.1071,"consensus_eps_actual":-0.45,"consensus_revenue_estimate":null,"consensus_revenue_actual":129263000.0,"consensus_period":"2023-Q2","consensus_source":"xbrl+finnhub","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":290886,"accession_number":"0001193125-23-173888","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-06-23T23:59:59+00:00","items":["3.01"],"status":"ready","headline":"Salem Media receives Nasdaq delisting notice for bid price below $1","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["Received Nasdaq letter on June 23, 2023 for failing $1 minimum bid price for 32 consecutive business days.","Has 180-day compliance period ending December 20, 2023 to regain compliance.","To regain compliance, stock must close at $1.00 or higher for at least 10 consecutive business days.","Company may consider available options to address the bid price deficiency."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":290885,"accession_number":"0001193125-23-149534","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-05-19T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Salem Media stockholders elect all director nominees, ratify auditor, approve charter amendment","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["All 7 director nominees elected; Edward G. Atsinger III received ~39.8M total votes.","Ratification of Moss Adams LLP as independent auditor approved with ~45.97M votes for, 54,556 against.","Amendment to certificate of incorporation for officer exculpation approved with ~39.13M votes for, 1.2M against."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.15,"calibrated_materiality_score":0.15,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":290884,"accession_number":"0001193125-23-139415","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-05-09T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Salem Media Q1 2023: Revenue up 1.4% to $63.5M, net loss $5.2M, Q2 revenue guidance down 5-7%","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total revenue $63.5M (+1.4% YoY); net loss $5.2M ($0.19/share) vs. net income $1.7M a year ago.","Operating loss $4.2M (vs. income $5.0M in Q1 2022); EBITDA turned negative to $(0.6)M.","Broadcast SOI down 46.4% to $5.5M; Digital Media Operating Income down 17% to $1.5M.","Q2 2023 revenue expected to decline 5-7% YoY; operating expenses to increase 3-6%.","Impairment of $2.1M on broadcast license for Miami station WMYM-AM; also closed several acquisitions."],"consensus_eps_estimate":-0.1258,"consensus_eps_actual":-0.19,"consensus_revenue_estimate":null,"consensus_revenue_actual":63489000.0,"consensus_period":"2023-Q1","consensus_source":"xbrl+finnhub","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":311736,"accession_number":"0001193125-23-074831","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-03-20T23:59:59+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"Salem Media issues $44.7M of 7.125% Senior Secured Notes due 2028, redeems $36.5M of 2024 notes","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Issued $44,685,000 additional 7.125% Senior Secured Notes due 2028 under existing indenture.","Net proceeds used to redeem all $36,535,000 of outstanding 6.750% Senior Secured Notes due 2024 at par plus accrued interest.","Redemption of 2024 Notes set for March 27, 2023; obligations discharged on March 20, 2023.","First Supplemental Indenture added subsidiary guarantors and reduced the Consolidated Total Debt Ratio threshold for dividend payments.","Notes not registered under Securities Act; sold to qualified institutional buyers."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":311735,"accession_number":"0001193125-23-064615","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-03-08T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Salem Media Q4 2022 net loss $2.2M; revenue $68.8M down 0.5%; impairments weigh","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss per diluted share $0.08 vs net income $0.61 in Q4 2021; operating income down 92% to $1.6M.","Adjusted EBITDA fell 33% to $7.3M; broadcast SOI down 17.4%; digital revenue down 10.3%.","Full-year net loss $3.2M vs net income $41.5M; $14M impairment charge on broadcast licenses.","Balance sheet: $114.7M 7.125% notes due 2028, $39M 6.75% notes due 2024, $9M ABL drawn.","Q1 2023 outlook: total revenue flat to -2% YoY; Recurring OpEx up 7-10%."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":311734,"accession_number":"0001193125-23-048864","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2023-02-24T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Salem Media Group to redeem $36.5M 6.75% notes due 2024, issue $44.7M 7.125% notes due 2028","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Issued notice to redeem all $36,535,000 of 6.750% Senior Secured Notes due 2024 on March 27, 2023 at par plus accrued interest.","To fund redemption, plans to issue $44,685,000 of additional 7.125% Senior Secured Notes due 2028 under existing purchase agreement.","New notes have higher coupon (7.125% vs 6.750%) and longer maturity (2028 vs 2024); closing subject to customary conditions.","Net proceeds from additional notes exceed redemption amount, implying additional capital raise."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":330296,"accession_number":"0001193125-22-303844","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2022-12-13T23:59:59+00:00","items":["1.01","5.02","9.01"],"status":"ready","headline":"Salem Media enters new employment agreements with President Broadcast Media and CFO","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["E. Allen Power named President Broadcast Media; base salary $390k (2023), $399,750 (2024), $409,743.75 (2025); quarterly bonuses tied to Broadcast NOR and SOI targets.","Evan D. Masyr continues as EVP & CFO; base salary $500k (2023), $510k (2024), $520k (2025); eligibility for annual merit bonus and change-of-control accelerated vesting.","Both agreements are at-will; severance of six months' base salary if terminated without cause.","Power's non-compete restricted to Atlanta metro survey area for six months post-termination.","Masyr's agreement includes automatic two-year fixed term upon anticipated change of control and good faith negotiation for compensation adjustments."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":330295,"accession_number":"0001193125-22-276897","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2022-11-03T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Salem Media Q3 revenue up 1.3% to $66.9M but net loss $11.9M vs prior year profit; 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Class A and B votes cast.","Moss Adams LLP ratified as independent registered public accounting firm.","Advisory (non-binding) vote on executive compensation approved.","Broker non-votes of 6,280,415 on director elections and say-on-pay."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":364387,"accession_number":"0001193125-22-092335","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2022-04-01T23:59:59+00:00","items":["1.01","5.02","9.01"],"status":"ready","headline":"Salem Media amends CEO and COO employment agreements with new incentive structure","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["CEO David Santrella base salary set at $661k (2022), $674,220 (2023), $687,704 (2024).","Quarterly bonuses for Santrella: up to $6,800 each for achieving total company revenue/EBITDA budgets.","Annual restricted stock award of $25k for Santrella if revenue exceeds budget by ≥$2M and grows ≥5% YoY.","Santrella receives option to purchase 50,000 shares of Class A common stock vesting over 4 years.","COO David Evans incentive includes quarterly bonuses up to $5,700 for company targets and $2,800 for non-broadcast/Regnery."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":384092,"accession_number":"0001193125-22-067545","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2022-03-07T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Salem Media retains EF Hutton as financial advisor for $15M ATM offering","summary_kind":"llm","event_type":"other_material","confidence":"medium","bullets":["Company engaged EF Hutton as financial advisor for its existing $15M at-the-market equity offering program.","EF Hutton will receive one-third of net commissions payable to B. 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total operating expenses down 16.2% to $48.7M.","Broadcast net revenue $51.0M (+6.1%); Publishing revenue $6.5M (+27.1%); Digital Media $11.6M (+2.9%).","Company repurchased $38.6M of 6.75% senior secured notes due 2024 for $39.3M cash; $114.7M outstanding in new 2028 Notes.","Post-Q4: Acquired WLCC-AM in Brandon, FL for $600K; sold Phoenix land for $2.0M; pending Denver land sale for $8.2M."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.68,"calibrated_materiality_score":0.68,"market_cap_usd":25241353.25409836,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":401931,"accession_number":"0001193125-21-362574","cik":1050606,"company_name":"SALEM MEDIA GROUP, INC. /DE/","ticker":"SALM","form_type":"8-K","filed_at":"2021-12-20T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Salem Media Group names David Santrella CEO, David Evans COO; 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