Form 4: E.W. Scripps Co CEO Adam Symson Reports Stock Transactions

Adam Symson, CEO of E.W. Scripps Co, reports the conversion of restricted stock units into Class A Common Shares and the withholding of shares for tax obligations.

Summary

• On March 1, 2025, 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 restricted stock units into 252,946 Class A Common Shares.
• The company withheld 74,988 Class A Common Shares to satisfy Symson's tax obligations related to a long-term incentive award.
• Symson was also granted additional restricted stock units due to the company exceeding performance goals.
• These restricted stock units will vest in equal parts in 2026, 2027 and 2028, with 25% vesting in 2025.
• Symson now directly owns 677,824 Class A Common Shares after the transactions.
• Symson was granted 224,726 restricted stock units that will vest in equal parts in 2026, 2027 and 2028.
• Symson was granted 974,093 restricted stock units that will vest in equal parts in 2026, 2027, 2028 and 2029.
• Symson was granted 180,045 restricted stock units that will vest in 2027.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing primarily reports routine stock transactions related to executive compensation. The exceeding of performance goals is a positive sign, but the tax withholding is a neutral event.

Positives

• The granting of additional restricted stock units to the CEO suggests that the company exceeded its performance goals.

Negatives

• The withholding of shares to cover tax obligations reduces the number of shares directly held by the CEO.

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 CEO's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time, aligning executive incentives with long-term company performance.
• Tax withholding on stock awards is a standard practice to cover the executive's tax liabilities.
• Companies like Gannett, Tegna, and Gray Television also utilize similar compensation structures for their executives.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect changes in the CEO's ownership stake.
• Employees may view the exceeding of performance goals positively, as it could lead to improved compensation or benefits.

Key Dates