Form 4: E.W. Scripps Co. Director Converts Restricted Stock Units into Class A Common Shares
SEC Form 4 Filing
Director Raymundo H. Granado Jr. converted restricted stock units into Class A Common Shares of E.W. Scripps Co. on May 1, 2024.
Summary
- On May 1, 2024, Raymundo H. Granado Jr., a director of E.W. Scripps Co., converted 16,685 restricted stock units into Class A Common Shares at a price of $3.9 per share.
- Following the transaction, Granado directly owns 26,751 Class A Common Shares and 115 Common Voting Shares.
- The reporting person may be deemed to have shared voting power with respect to more than 10% of the Class A Common Shares of the Issuer due to the voting provisions of the Second Amended and Restated Scripps Family Agreement.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing an insider transaction, which is neither inherently positive nor negative.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company insiders.
Stakeholder Impact
- The transaction may have a minor impact on shareholders due to the increase in the number of outstanding Class A Common Shares.
- The reporting person may be deemed to have shared voting power with respect to more than 10% of the Class A Common Shares of the Issuer due to the voting provisions of the Second Amended and Restated Scripps Family Agreement, which may impact shareholders.
Key Dates
| Date | Description |
|---|---|
| 01/24/2013 | Date of initial Schedule 13D filing |
| 05/26/2021 | Date of the Second Amended and Restated Scripps Family Agreement |
| 02/21/2023 | Date of last amendment to Schedule 13D |
| 05/01/2024 | Transaction date: Conversion of restricted stock units into Class A Common Shares |
| 05/01/2024 | Restricted Stock Units Exercisable and Expiration Date |
| 05/02/2024 | Date of signature on the Form 4 filing |
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