X0201 3 2003-07-31 0 0001174527 CITADEL BROADCASTING CORP CDL 0001237987 SULEMAN FARID C/O FORSTMANN LITTLE AND CO. 767 FIFTH AVENUE, 44TH FLOOR NEW YORK NY 10153 1 1 0 0 Chief Executive Officer Class B Common Stock 1143000 D Employee Stock Option (right to buy) 3.50 2012-03-04 Class A Common Stock 4150000 D Options become exercisable in equal annual installments on the date of grant (3/4/02) and the first, second and third anniversaries of the date of grant. Immediately prior to the closing of the initial public offering (the "Offering") of the common stock, par value $.01 per share ("Common Stock"), of Citadel Broadcasting Corporation (the "Issuer"), which is expected to occur in August 2003, the number and designation of shares of common stock will be adjusted to reflect a recapitalization of the Issuer in which (i) each outstanding share of Class B common stock will be exchanged for shares of Class A common stock based on an exchange ratio to be determined using the actual initial public offering price in the Offering and (ii) the Class A common stock will be redesignated as Common Stock. Suleman Farid 2003-07-21