With physical distancing the “new normal,” it was only a matter of time before an annual shareholders’ meeting for a broadcast media company took a virtual turn.
The first company to publicly make the move: the Camarillo, Calif.-based entity known for Christian-themed and conservative talk audio programming.
In an announcement distributed late Friday, Salem Media Group will host its 2020 annual meeting of stockholders virtually.
It’s due to the public health impact of the COVID-19 pandemic and is being done “to prioritize the health and well-being of meeting participants,” Salem says.
As such, Salem’s 2020 annual stockholders’ meeting will be held in a virtual format only on May 6, at 2pm Eastern.
Stockholders will not be able to attend the annual meeting in person.
Who is the event open for? Stockholders at the close of business on March 11 are entitled to attend the annual meeting.
To be admitted to the meeting at www.virtualshareholdermeeting.com/SALM2020, stockholders must enter the 16-digit voting control number found on their proxy card, voting instruction form, or notice of internet availability of proxy materials. Closed captioning will be provided for the duration of the virtual meeting.
“Whether or not stockholders plan to attend the virtual-only annual meeting, Salem urges stockholders to vote and submit their proxies in advance of the meeting by one of the methods described in the proxy materials,” the company said.
With a 1-year target estimate of $3.13, SALM opens Monday’s trading on the Nasdaq Global Select exchange at just 92 cents. Shares recently dipped to 79 cents, from a year-to-date high of $1.73.