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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
1428455	J Christopher Henderson	4880 Santa Rosa Road Camarillo CA 93012	Evp, General Counsel & Secy	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 Commmon Stock	Acquisiton	2021-10-22	6,250	$4.85	21,751	No	4	M	Direct
Class A Commmon Stock	Disposition	2021-10-22	6,250	$5.61	15,501	No	4	S	Direct

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

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Stock Options (right to buy)	Disposition	2021-10-22	6,250	$0.00	6,250	$4.85

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
18,750	2017-03-08	2025-03-08	No	4	M	Direct

Footnotes

This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 18, 2021.
This transaction was executed in multiple trades at prices ranging from $5.50 to $6.00. 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.
The options vest annually in four (4) equal installments commencing March 8, 2017.
Each annual installment of the option expires on the fifth (5th) anniversary of the vesting date. The last installment to vest will expire on March 8, 2025.