Management Change/Compensation Form 8 K

Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.

Retirement of W. Kip Speyer

On June 21, 2024, W. Kip Speyer informed Bright Mountain Media, Inc. (the "Company") that he will retire from his position as Chairman and as a member of the Board of Directors (the "Board") of the Company effective June 30, 2024 (the "Effective Date"). Mr. Speyer's decision to retire as the Company's Chairman was not the result of any disagreements between Mr. Speyer, on the one hand, and the Company's management or Board, on the other hand, as to any matter relating to the Company's operations, policies, or practices.

In connection with his retirement, Mr. Speyer and the Company entered into a Separation and Release Agreement (the "Separation Agreement") effective as of June 29, 2024 (unless rescinded by Mr. Speyer prior to such date), pursuant to which, among other things, the Company will accelerate vesting of unvested stock options held by Mr. Speyer.

Resignation of Harry Schulman

On June 21, 2024, Harry Schulman, a director of the Company, notified the Company that he was resigning from the Board, effective June 30, 2024. At the time of his resignation, Mr. Schulman was also the Chair of the Company's compensation and audit committees. Mr. Schulman did not have any disagreement with the Company when he tendered his resignation. In connection with his resignation, the Company and Mr. Schulman entered into a separation agreement pursuant to which, among other things, the Company will accelerate vesting of unvested stock options held by Mr. Schulman.