Urban One Shareholders Approve Reverse Stock Split

RADIO ONLINE | Tuesday, June 24, 2025 | 9:39am CT

Urban One

Urban One, Inc. held its 2025 Annual Meeting of Stockholders on June 18, during which shareholders voted to approve key proposals, including a potential reverse stock split and the election of directors to the company's board.

Shareholders approved an amendment to Urban One's Amended and Restated Articles of Incorporation authorizing the company to execute a reverse stock split of its Class A and Class D common stock. The split could range anywhere between a 1-for-2 and 1-for-30 ratio, to be determined by a committee appointed by the board of directors. The measure passed with 31,748,434 votes in favor and 1,047,681 votes against, with 8,675 abstentions.

Additionally, six board members were elected to serve until the company's 2026 Annual Meeting. Class A directors include Terry L. Jones and Brian W. McNeill. Class B directors are Catherine L. Hughes, Alfred C. Liggins III, B. Doyle Mitchell Jr., and D. Geoffrey Armstrong. All six nominees received a plurality of the votes cast and were officially elected to the board.

Shareholders also ratified the appointment of PricewaterhouseCoopers LLP as Urban One's independent registered public accounting firm for the fiscal year ending December 31, 2025. The ratification passed with 32,621,107 votes in favor, 126,251 against, and 57,432 abstaining.

The company had 7.4 million shares of Class A and 2.9 million shares of Class B common stock outstanding as of the April 21, 2025 record date. Class C and Class D shares were not entitled to vote on the proposals.