Bright Mountain Media, Inc.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Departure of Chief Financial Officer Effective April 30, 2026, Ethan Rudin, the Chief Financial Officer of Bright Mountain Media, Inc. (the “Company”), departed from the Company and his role as Chief Financial Officer. In connection with such departure, Mr. Rudin will receive severance pay equal to six months’ of his base salary pursuant to the terms of his employment agreement. Following Mr. Rudin’s departure, Matt Drinkwater, the Company’s Chief Executive Officer, will act as the Company’s interim principal financial officer and interim principal accounting officer until the Company’s filing of its next Form 10-Q. Appointment of Chief Financial Officer From October 2025 until his appointment as Chief Financial Officer of the Company, Mr. Olgun, age 43, served as a strategic finance consultant to Eventbrite, Inc., a publicly-traded live events commerce company. Prior to working with Eventbrite, Inc., Mr. Olgun served as the Chief Financial Officer of Loop Media, Inc., a publicly-traded digital ad-tech company, from March 2022 until October 2025. Prior to joining Loop Media, Inc., Mr. Olgun served as the Director of Finance of United Pacific, a fuel and retail company, from April 2018 until March 2022. Mr. Olgun started his professional career at Ernst & Young LLP in May 2004, earned his CPA license from the California Board of Accountancy in 2008, a Bachelor of Arts in Business Management and Economics from the University of California, Santa Cruz in 2004, and a Master of Science in Accountancy from the University of Notre Dame in 2005. Pursuant to an employment agreement with the Company dated May 1, 2026, Mr. Olgun will receive an annual base salary of $335,000 and will be eligible for an annual bonus of up to 50% of his base salary based on his performance. In addition to his base salary and bonus, Mr. Olgun will be eligible to participate in all of the Company’s benefit plans offered to employees of the Company from time to time, subject to satisfying eligibility requirements. Further, Mr. Olgun has been granted options to purchase 1,000,000 shares of the Company’s common stock, at an exercise price of $0.004 per share, which was the fair market value of the Company’s common stock on the date of grant. The options will vest over four years, with the first tranche vesting on May 6, 2027, and otherwise be subject to the terms of the Bright Mountain Media, Inc. Stock Option Plan. In addition, if Mr. Olgun is terminated without cause, he will be entitled to severance pay equal to six months’ of his base salary at the time of termination. Pursuant to the terms of the employment agreement, Mr. Olgun is bound by customary non-competition and non-solicitation covenants during his period of employment and for a period of one year after the date his employment with the Company terminates. Additionally, pursuant to the terms of the employment agreement, Mr. Olgun is bound by certain customary non-disclosure covenants during the period of his employment and after the date his employment with the Company terminates.