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

Director John Jeffry Louis reports acquiring 10,245 shares of Gannett Co. common stock in lieu of retainer fees.

Summary

• On March 31, 2024, John Jeffry Louis, a director of Gannett Co., Inc., acquired 10,245 shares of common stock.
• The shares were granted in lieu of $25,000 in retainer fees.
• The price per share was $2.44.
• Following the transaction, Mr. Louis directly owns 529,329 shares of Gannett Co. common stock.
• Mr. Louis also has indirect ownership through various trusts.
• These trusts include the John Jeffry Louis, Jr. Trust under the Will of John J. Louis fbo John Jeffry Louis (9,873 shares), the John J. Louis, Jr. Trust under the Will of John J. Louis fbo Tracy L. Merrill (3,478 shares), and the Marital Trust U/A John J. Louis, Jr. Trust (13,471 shares).

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a routine transaction related to director compensation. The director taking stock instead of cash is a mildly positive signal.

Positives

• The director's acceptance of shares in lieu of cash retainer fees demonstrates confidence in the company's stock.

Industry Context

Directors receiving stock in lieu of fees is a common practice to align their interests with shareholders, particularly in companies looking to conserve cash.

Comparison to Industry Standards

• Comparing Gannett's director compensation structure to peers like Lee Enterprises or McClatchy could provide insights into whether this practice is standard or unique.
• Analyzing the percentage of director compensation paid in stock versus cash across the media industry would offer a benchmark for evaluating Gannett's approach.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.

Key Dates