4/A: E.W. Scripps Co: Officer Daniel Perschke Reports Changes in Beneficial Ownership
SEC Form 4/A (Amendment to Statement of Changes in Beneficial Ownership)
Daniel Perschke, SVP, Controller of E.W. Scripps Co, reports transactions involving Class A Common Shares and Restricted Stock Units.
Summary
- On March 1, 2024, Daniel Perschke, SVP, Controller of E.W. Scripps Co, engaged in transactions involving Class A Common Shares and Restricted Stock Units.
- Perschke converted 3,568 Restricted Stock Units into Class A Common Shares at a price of $0.
- The company withheld 1,792 shares to satisfy the reporting person's tax obligation.
- Following these transactions, Perschke directly owns 8,386.4354 Class A Common Shares and no Common Voting Shares.
- Perschke also holds 2,058 Restricted Stock Units from a 2022 grant, 3,022 Restricted Stock Units from a 2023 grant, and 6,478 Restricted Stock Units from a new award that will vest in equal parts from 2025 to 2028.
- Additionally, Perschke holds 5,944 Restricted Stock Units that will vest from 2024 to 2026.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing and does not contain information that would significantly impact investor sentiment positively or negatively.
Future Outlook
The document outlines the vesting schedules for various Restricted Stock Unit awards, indicating future conversions into Class A Common Shares in 2024, 2025, 2026, 2027 and 2028.
Industry Context
Form 4 filings are a routine part of compliance for publicly traded companies, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices involving stock-based awards.
Comparison to Industry Standards
- Stock-based compensation is a common practice among publicly traded companies to align the interests of management with those of shareholders.
- Vesting schedules for restricted stock units typically range from 3 to 5 years, which aligns with the vesting schedules described in the document.
- Tax withholding on stock-based compensation is a standard procedure to cover the tax liabilities of the recipient.
Stakeholder Impact
- The transactions reported have a minor impact on shareholders due to the change in the number of outstanding shares.
- The transactions impact the reporting person's holdings of company stock.
Key Dates
| Date | Description |
|---|---|
| 03/01/2022 | Date of original Restricted Stock Units grant that expire 03/01/2025 |
| 03/01/2023 | Date of original Restricted Stock Units grant that expire 03/01/2026 |
| 03/01/2024 | Date of the reported transactions: conversion of restricted stock units and tax withholding. |
| 03/05/2024 | Date of Original Filed |
| 03/04/2025 | Date of signature on the report. |
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