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(Correction) Vestings Not Sales at Cumulus.

1-3-2012

THIS STORY WAS CHANGED/CORRECTED AT 9AM ON FRIDAY
(Correction) To Our Cumulus Stock Story

An earlier story we posted about Cumulus stock sales by Cumulus executives was incorrect. They were, in fact, stock vestings, not sales.  A portion of vested stock was retained by the company to satisfy tax obligations, as is a customary practice for most public companies. The number 3 million should have stated the number of Cumulus shares owned by CEO Lew Dickey, not the dollar amount he received.  John Dickey owns 1.99 million shares of Cumulus stock and Jon Pinch owns 257,000 shares of stock.

 


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