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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1050606	Salem Media Group Inc.	SALM	Radio Broadcasting Stations (4832)	770121400

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1106066	Iii G Edward Atsinger	4880 Santa Rosa Rd Camarillo CA 93012	Chief Executive Officer	No	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Acquisiton	2019-12-27	16,011	$1.45	225,877	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class A Common Stock	25,000	Indirect	By Atsinger 1999 Charitable Remainder Trust
Class A Common Stock	3,499,324	Indirect	By Atsinger Family Trust
Class A Common Stock	1,090,078	Indirect	By Ted Atsinger Irreovcable Trust

Footnotes

This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 30, 2019.
This transaction was executed in multiple trades at prices ranging from $1.44 to $1.45. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
By Edward G. Atsinger III, as Trustee of the Atsinger 1999 Charitable Remainder Trust.
By Edward G. Atsinger III, as Trustee of the Atsinger Family Trust.
By Edward G. Atsinger III, as Trustee of the Ted Atsinger Irrevocable Trust for all purposes other than voting matters.