SHAREHOLDERS' EQUITY (Block)

3 Months Ended

Mar. 31, 2017

Stockholders Equity Note Abstract

Stockholders Equity Note Disclosure Text Block

10. SHAREHOLDERS’ EQUITY

Dividend Equivalents

The Company’s grants of RSUs include the right, upon vesting, to receive a cash payment equal to the aggregate amount of dividends, if any, that holders would have received on the shares of common stock underlying their RSUs if such RSUs had been vested during the period.

The following table presents the amounts accrued and unpaid on unvested RSUs:

		Dividend Equivalent Liabilities
	Balance Sheet	March 31,		December 31,
	Location	2017		2016
		(amounts in thousands)
Short-term	Other current liabilities	$	155	$	260
Long-term	Other long-term liabilities		508		348
Total		$	663	$	608

Employee Stock Purchase Plan

The Company adopted the Entercom 2016 Employee Stock Purchase Plan (the “ESPP”) during the second quarter of 2016 that commenced with the third quarter of 2016. The ESPP allows participants to purchase the Company’s stock equal to 85% of the market value of such shares on the purchase date.The maximum number of shares authorized to be issued under the ESPP is 1.0million. Pursuant to this plan, the Company does not record compensation expense to the employee as income subject to tax on the difference between the market value and the purchase price, as this plan was designed to meet the requirements of Section 423(b) of the Internal Revenue Code. The Company recognizes the 15% discount in the Company’s consolidated statements of operations as non-cash compensation expense.

	Three Months Ended
	March 31,
	2017		2016
	(amounts in thousands)
Number of shares purchased		15		-
Non-cash compensation expense recognized	$	32	$	-