Filing Summary
Business Context and Reporting Period
Beasley Broadcast Group, Inc. filed a Form 8-K dated September 24, 2026, reporting an event occurring September 19, 2026. The filing concerns the death of Peter A. Bordes, Jr., an independent director, and the resulting temporary reduction in the Audit Committee’s membership.
Key Financial Metrics and Liquidity
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, or other financial metrics. It is not a financial-results filing.
Material Changes
- Mr. Bordes, who joined the Board in November 2016, passed away on September 19, 2026.
- He served on the Audit Committee and Compensation Committee.
- The Audit Committee now has two independent directors, rather than the three members required by Nasdaq Rule 5605(c)(2)(A).
- The Company notified Nasdaq of the resulting non-compliance on September 23, 2026.
Outlook, Risks, and Contingencies
The Company intends to rely on the Nasdaq cure period under Rule 5605(c)(4)(B). The cure period expires upon the earlier of the next annual meeting of stockholders or September 19, 2027. The Company intends to appoint an independent director to the Audit Committee by that deadline.
The principal disclosed risk is temporary non-compliance with Nasdaq’s minimum Audit Committee membership requirement. The filing does not state that delisting proceedings have commenced.
Investor Verification Points
- Verify the Company’s appointment of an independent director to restore a three-member Audit Committee.
- Confirm the applicable cure-period deadline, including whether the next annual meeting occurs before September 19, 2027.
- Monitor subsequent filings for any Nasdaq determination, listing impact, or changes to Board and committee composition.
- Review subsequent filings for any financial or operational effects associated with the Board vacancy; none are disclosed in this filing.