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STOCKHOLDERS EQUITY
 3 Months Ended
Mar. 31, 2025
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS EQUITY
12. STOCKHOLDERS EQUITY

Reverse Stock Split
On February 21, 2025, our Board of Directors authorized a reverse stock split across all classes of the Company’s outstanding common stock. The Board's authorization is subject to the approval of the Company's stockholders and, upon approval by the stockholders, the ratio and timing will be determined by the Audit Committee of the Board. The Company currently anticipates submitting the matter for stockholder approval at the Company's 2025 annual meeting but also notes that the Company's majority stockholders may act by written consent. In its authorization, the Board reserved the right to abandon the reverse stock split, even if approved by the stockholders, if the Board, in its discretion, determines that the reverse stock split is no longer in the best interests of the Company or its stockholders.
Stock Repurchase Program
From time to time, the Company may repurchase its equity securities in open market purchases. Under open authorizations, repurchases of the Company's equity securities may be made from time to time in the open market or in privately negotiated transactions in accordance with applicable laws and regulations. Repurchased equity securities are retired when repurchased. The timing and extent of any repurchases will depend upon prevailing market conditions, the trading price of the Company’s outstanding equity securities and other factors, and subject to restrictions under applicable law.
On September 27, 2022, the Compensation Committee authorized the repurchase of up to $0.5 million worth of shares in the aggregate from employees who want to sell in connection with the Company’s most recent employee stock grant (the "Employee Stock Repurchase Authorization"). During the three months ended March 31, 2025, the Company did not repurchase any shares of Class A common stock under the Stock Grant Authorization. During the three months ended March 31, 2025, the Company repurchased 98,976 shares of Class D Common Stock for approximately $0.1 million at an average price of $0.98 per share. After giving effect to the above transactions, the repurchase program has approximately $0.1 million remaining under the Employee Stock Repurchase Authorization.

On June 10, 2024, the Company’s Board of Directors approved a share repurchase authorization to repurchase up to $20.0 million of the Company's outstanding Class A and/or Class D common stock (collectively, the “2024 Stock Repurchase Program”). The 2024 Stock Repurchase Program will remain in effect for up to 24 months or until the authorization is exhausted.
The following table details our stock repurchases under the 2024 Stock Repurchase Program during the three months ended March 31, 2025:
Class AClass D
Shares of common stock repurchased449,252 204,646 
Average price paid per share$1.48 $0.82 
Total cost$665,829 $167,493 
After giving effect to the above transaction and prior activity, the 2024 Stock Repurchase Program has approximately $12.7 million remaining under the authorization.
See Note 15 - Subsequent Events of our condensed consolidated financial statements for additional purchases subsequent to March 31, 2025.
Stock Option and Restricted Stock Grant Plan
The 2019 Equity and Performance Incentive Plan is an equity performance incentive plan for stock options and restricted stock. Both Class A and Class D common stock are available for grant. The Company settles stock options, net of tax, upon exercise by issuing stock.
On October 1, 2024, the Company held its 2024 Annual Stockholders meeting. At that meeting, the stockholders approved a second amendment and restatement (the "2024 Second Incentive Plan Amendment and Restatement") of the Urban One 2019 Equity and Performance Incentive Plan (the "2019 Plan") to (i) correct a typographical error with respect to the duration of options and (ii) increase the number of Class A and Class D shares available for issuance. The 2024 Second Incentive Plan Amendment and Restatement was approved and, as a result, 750,000 shares of Class A common stock and 7,000,000 shares of Class D common stock were added to the 2019 Plan. The total number of shares authorized for issuance under the 2019 Incentive Plan, giving effect to its original authorization of 5,500,000 Class D Shares, the first amendment and restatement in 2021 with its 2,000,000 Class A Shares and 5,519,575 Class D Shares and the 2024 Second Incentive Plan Amendment and Restatement is (i) 750,000 shares of the Company's Class A common stock and (ii) 18,019,575 shares of the Company's Class D common stock. After giving effect to the 2024 Second Incentive Plan Amendment and Restatement 2,000,000 shares of the Company's Class A common stock are ungranted and in reserve and (ii) 7,000,000 shares of the Company's Class D common stock are ungranted and in reserve under the 2019 Plan. As of March 31, 2025, the Company had 6,570,707 shares available to grant under the 2024 Second Incentive Plan Amendment and Restatement.
Pursuant to the terms of the 2019 Plan and subject to the Company’s insider trading policy, a portion of each recipient’s vested shares may be sold in the open market or repurchased by the Company for tax purposes on or about the vesting dates. Transactions and other information relating to stock options of Class D common stock for the three months ended March 31, 2025, are summarized below:
Number of
Options
Weighted-Average
Exercise Price		Weighted-Average
Remaining
Contractual Term
(In Years)
Aggregate
Intrinsic
Value (a)
Outstanding at December 31, 20245,436,715$2.83 6.44$— 
Grants362,3010.81 9.92— 
Forfeited(44,231)1.11 9.50— 
Cancelled/expired/settled(61,420)4.76 — — 
Outstanding at March 31, 2025
5,693,365$2.69 6.39$— 
Vested and expected to vest at March 31, 20255,693,3652.69 6.39— 
Unvested at March 31, 2025618,1901.08 9.56— 
Exercisable at March 31, 20255,075,1752.89 6.00— 
(a)The aggregate intrinsic value in the table above represents the difference between the Company’s stock closing price on the last day of trading during the period, and the exercise price, multiplied by the number of shares that would have been received by the holders of in-the-money options had all the option holders exercised their options on that day. This amount changes based on the fair market value of the Company’s stock.
As of March 31, 2025, approximately $0.2 million of total unrecognized compensation cost related to Class D stock options is expected to be recognized over a weighted-average period of 5 months. The weighted-average grant date fair value of options granted during the three months ended March 31, 2025 was $0.60.
The Company did not grant any options to purchase shares of Class A common stock during the three months ended March 31, 2025.
Activity relating to grants of restricted shares of Class A and Class D common stock for the three months ended March 31, 2025, are summarized below:
Class AClass D
SharesAverage
Fair Value
at Grant
Date		SharesAverage
Fair Value
at Grant
Date
Unvested at December 31, 2024750,000$5.39848,863$1.90
Grants——850,8790.84
Vested(750,000)5.39(776,982)1.51
Forfeited/cancelled/expired——(31,532)1.11
Unvested at March 31, 2025—$—891,228$1.26
Restricted stock grants for Class A and Class D shares are included in the Company’s outstanding share numbers on the effective date of grant. As of March 31, 2025, approximately $0.6 million of total unrecognized compensation cost related to awards of restricted Class D common stock is expected to be recognized over a weighted-average period of 6 months.