Form 4: E.W. Scripps Co. Chief Operating Officer Lisa Knutson Reports Retirement and Stock Unit Holdings
SEC Form 4 Filing
Lisa Knutson, Chief Operating Officer of E.W. Scripps Co., has reported her retirement effective December 31, 2024, along with details of her holdings in company stock and restricted stock units.
Summary
- Lisa Knutson, the Chief Operating Officer of E.W. Scripps Co., has retired from her position effective December 31, 2024.
- This SEC Form 4 filing details changes in her beneficial ownership of company securities.
- Knutson directly owns 110,936 Class A Common Shares and no Common Voting Shares.
- She also holds multiple restricted stock unit awards that will vest over the coming years.
- These restricted stock units will convert into Class A Common Shares upon vesting.
- The vesting schedules for these units extend from 2022 to 2028.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a change in executive status and stock holdings, with no inherent positive or negative sentiment.
Future Outlook
The document does not contain any forward-looking statements about the company's future performance.
Management Comments
- The reporting owner has retired as Chief Operating Officer, effective December 31, 2024, and is no longer obligated under the rules of Section 16.
Industry Context
This filing is a routine disclosure related to changes in beneficial ownership by a company officer and is common in the corporate world.
Comparison to Industry Standards
- SEC Form 4 filings are standard practice for publicly traded companies, such as E.W. Scripps Co., and are required when there are changes in beneficial ownership by company insiders.
- The vesting schedules for restricted stock units are typical for executive compensation packages, often designed to align executive interests with long-term company performance.
- Comparable companies in the media industry, such as Gannett Co. and Tegna Inc., also regularly file similar forms when their executives have changes in their stock holdings.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Chief Operating Officer | Lisa Knutson | 12/31/2024 | Retirement |
Stakeholder Impact
- Shareholders are informed of changes in ownership by a key executive.
- Employees may be impacted by the change in leadership.
Key Dates
| Date | Description |
|---|---|
| 03/01/2022 | First vesting date for one of the restricted stock unit awards. |
| 03/01/2023 | First vesting date for another restricted stock unit award. |
| 05/01/2024 | First vesting date for another restricted stock unit award. |
| 12/31/2024 | Lisa Knutson's retirement date as Chief Operating Officer. |
| 01/02/2025 | Date of the SEC Form 4 filing. |
| 03/01/2025 | First vesting date for another restricted stock unit award. |
| 03/01/2026 | Vesting date for multiple restricted stock unit awards. |
| 03/01/2027 | Vesting date for multiple restricted stock unit awards. |
| 03/01/2028 | Final vesting date for one of the restricted stock unit awards. |
Keywords
SEC Form 4, Beneficial Ownership, Restricted Stock Units, Class A Common Shares, E.W. Scripps Co., Retirement, Lisa Knutson, Chief Operating Officer
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