Form 4: Gannett Co. Director John Jeffry Louis Acquires Shares in Lieu of Retainer Fees

Director John Jeffry Louis acquired 4,448 shares of Gannett Co. common stock at $5.62 per share in lieu of retainer fees.

Summary

• On September 30, 2024, John Jeffry Louis, a director of Gannett Co., Inc., acquired 4,448 shares of common stock.
• The acquisition was made in lieu of $25,000 in retainer fees, with the shares priced at $5.62 each.
• Following the transaction, Mr. Louis directly owns 570,063 shares of Gannett Co. common stock.
• Mr. Louis also has indirect ownership through various trusts, including the John Jeffry Louis, Jr. Trust, the John J. Louis, Jr. Trust, and the Marital Trust U/A John J. Louis, Jr. Trust, totaling 26,822 shares.
• The transaction was exempt under Rule 16b-3.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director acquiring shares in lieu of fees can be seen as a positive sign of alignment with shareholder interests and confidence in the company's future, but it's a routine transaction.

Positives

• Director's acquisition of shares demonstrates confidence in the company.
• The use of stock in lieu of cash retainer fees preserves company cash.

Future Outlook

There is no future outlook provided in this document.

Industry Context

Directors receiving stock in lieu of cash compensation is a common practice, particularly for companies looking to conserve cash or align director incentives with shareholder value. This practice is seen across various industries.

Comparison to Industry Standards

• Comparing Gannett's director compensation structure to peers like News Corp or The New York Times Company would provide context on whether this stock-based compensation is standard practice.
• Analyzing director compensation packages across similar media companies can reveal if the $25,000 retainer fee and subsequent stock grant are within the typical range.

Stakeholder Impact

• Shareholders may view the director's stock acquisition positively, as it aligns the director's interests with theirs.
• The company benefits from conserving cash by issuing stock instead of paying cash retainer fees.

Key Dates