Form 4: E.W. Scripps Co: Kate O'Brian Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Kate O'Brian, President of Scripps News, reports acquisition and disposal of Class A Common Shares and Restricted Stock Units in E.W. Scripps Co.
Summary
- On May 1, 2024, Kate O'Brian, President of Scripps News at E.W. Scripps Co, reported changes in her beneficial ownership of company securities.
- She acquired 6,331 Class A Common Shares at a price of $3.90 through the conversion of restricted stock units.
- O'Brian also disposed of 2,737 Class A Common Shares at $3.90 to satisfy tax obligations related to a long-term incentive award.
- Following these transactions, O'Brian directly owns 5,354 Class A Common Shares and no Common Voting Shares.
- She also holds various restricted stock unit awards that vest at different dates in the future.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document is a standard regulatory filing detailing transactions of company stock by an officer.
Positives
- The acquisition of shares through restricted stock unit conversion indicates confidence in the company's future performance.
- Additional restricted stock units were credited because the company exceeded performance goals.
Future Outlook
The document outlines future vesting schedules for restricted stock units, indicating potential future conversions to Class A Common Shares.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor management's alignment with shareholder interests.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly increasing the number of outstanding shares as restricted stock units vest.
Key Dates
| Date | Description |
|---|---|
| 05/03/2022 | One-third of a restricted stock award vested. |
| 03/01/2023 | One-third of a restricted stock award vested. |
| 05/01/2024 | Date of the reported transactions: acquisition and disposal of Class A Common Shares, conversion of restricted stock units. |
| 05/03/2024 | Date of signature for the report. |
| 03/01/2025 | Vesting date for a portion of restricted stock units. |
| 03/01/2027 | Expiration date for some restricted stock units. |
| 03/01/2028 | Expiration date for some restricted stock units. |
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