Insider Scott Schatz Files to Sell Townsquare Media (TSQ) Shares

TL;DR

**Insider Scott Schatz is selling TSQ shares, watch for potential price impact.**

AI Summary

Scott Schatz, a reporting person, has filed a Form 144 indicating a proposed sale of securities in Townsquare Media, Inc. (TSQ). This filing, dated March 23, 2026, signals an insider's intent to sell shares, which could be interpreted by investors as a lack of confidence or a move to diversify personal holdings. For shareholders, this matters because significant insider selling can sometimes precede a decline in stock price, suggesting that those with the most intimate knowledge of the company believe the stock may be fully valued or overvalued.

Why It Matters

This filing indicates an insider's intent to sell shares, which can influence investor sentiment and potentially impact the stock price of Townsquare Media, Inc. (TSQ).

Risk Assessment

Risk Level: medium — Insider selling can signal a lack of confidence, creating medium risk for current or prospective investors.

Analyst Insight

An investor might consider researching the reasons behind Scott Schatz's proposed sale and evaluating Townsquare Media's recent performance and future outlook before making any investment decisions.

Key Players & Entities

• Schatz Scott (person) — Reporting person proposing to sell securities
• Townsquare Media, Inc. (company) — Subject company whose securities are being sold
• 0001614340 (person) — CIK for Schatz Scott
• 0001499832 (company) — CIK for Townsquare Media, Inc.
• March 23, 2026 (date) — Filing date of the Form 144

Forward-Looking Statements

• Townsquare Media's stock price may experience downward pressure due to insider selling. (Townsquare Media, Inc.) — medium confidence, target: Within 3 months of filing date

FAQ

Filing Documents

• primary_doc.html (144)
• primary_doc.xml (144) — 4KB
• 0001959173-26-002564.txt ( ) — 6KB

From the Filing

Form 144 Filer Information UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933 FORM 144 144: Filer Information Is this a LIVE or TEST Filing? LIVE TEST Submission Contact Information Name Phone E-Mail Address 144: Issuer Information Name of Issuer Townsquare Media, Inc. Address of Issuer 4 MANHATTANVILLE ROAD, SUITE 107 PURCHASE NEW YORK 10577 Phone 203-861-0903 Name of Person for Whose Account the Securities are To Be Sold Schatz Scott See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice. Relationship to Issuer Officer 144: Securities Information Title of the Class of Securities To Be Sold Name and Address of the Broker Number of Shares or Other Units To Be Sold Aggregate Market Value Number of Shares or Other Units Outstanding Approximate Date of Sale Name the Securities Exchange Class A Fidelity Brokerage Services LLC 900 Salem Street Smithfield � RI � 02917 4836 25389.00 15789817 03/23/2026 NYSE Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor: 144: Securities To Be Sold Title of the Class Date you Acquired Nature of Acquisition Transaction Name of Person from Whom Acquired Is this a Gift? Date Donor Acquired Amount of Securities Acquired Date of Payment Nature of Payment * Class A 03/18/2026 Restricted Stock Vesting Issuer 4836 03/18/2026 Compensation * If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid. Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold. 144: Securities Sold During The Past 3 Months Name and Address of Seller Title of Securities Sold Date of Sale Amount of Securities Sold Gross Proceeds Scott A. Schatz 4 Manhattanville Road Suite 107 Purchase � NY � 10577 Class A 03/19/2026 28980 147088.84 Scott A. Schatz 4 Manhattanville Road Suite 107 Purchase, � NY � 10577 Class A 03/20/2026 21090 105866.11 144: Remarks and Signature Remarks Date of Notice 03/23/2026 ATTENTION: The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date. Signature /s/ Joshua Schmitt, as a duly authorized representative of Fidelity Brokerage Services LLC, as attorney-in-fact for Scott A. Schatz. ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

View Full Filing

View this 144 filing on SEC EDGAR