4/A: E.W. Scripps CEO Adam Symson Reports Changes in Beneficial Ownership
SEC Form 4/A
Adam Symson, President and CEO of E.W. Scripps Co, reports transactions involving Class A Common Shares and Restricted Stock Units.
Summary
- On March 1, 2024, Adam Symson, the President and CEO of E.W. Scripps Co, engaged in transactions involving Class A Common Shares and Restricted Stock Units.
- Symson converted 153,037 Restricted Stock Units into Class A Common Shares.
- The company withheld 45,364 shares to satisfy Symson's tax obligations related to a long-term incentive award.
- Following these transactions, Symson directly owns 460,689 Class A Common Shares.
- Symson also holds 56,292 Restricted Stock Units that vest in 2027, 75,354 Restricted Stock Units that vest in equal parts in 2025, 2026, and 2027, and 128,048 Restricted Stock Units that vest in equal parts in 2025, 2026, 2027 and 2028.
- Symson also holds 117,482 Restricted Stock Units that vest in equal parts in 2024, 2025, 2026 and 2027.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, and the transactions described are part of normal executive compensation practices. Therefore, the sentiment is neutral.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the holdings and transactions of key company personnel.
Comparison to Industry Standards
- Executive compensation packages often include a mix of salary, stock options, and restricted stock units.
- The vesting schedules and terms of these awards are generally aligned with industry practices to incentivize long-term performance and retention.
- Companies like Sinclair Broadcast Group, Nexstar Media Group, and Gray Television also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the number of outstanding shares.
- The vesting of restricted stock units incentivizes the CEO to improve company performance, which benefits shareholders.
Key Dates
| Date | Description |
|---|---|
| 03/01/2021 | Date exercisable for 59,070 Restricted Stock Units |
| 03/01/2022 | Date exercisable for 56,290 Restricted Stock Units |
| 03/01/2023 | Date exercisable for 37,677 Restricted Stock Units |
| 03/01/2024 | Date of transaction; conversion of restricted stock units into Class A Common Shares; Date exercisable for 59,070, 56,290 and 37,677 Restricted Stock Units |
| 05/01/2024 | Date exercisable for 117,482 Restricted Stock Units |
| 03/01/2025 | Date exercisable for 128,048 Restricted Stock Units |
| 12/31/2027 | Date exercisable for 56,292 Restricted Stock Units |
| 03/01/2027 | Expiration date for 117,482 Restricted Stock Units |
| 03/01/2028 | Expiration date for 128,048 Restricted Stock Units |
| 03/04/2025 | Date of signature |
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