Form 4: Gannett Co. Director Transfers 100,000 Shares to Grantor Retained Annuity Trust

Gannett Co. director Kevin M. Sheehan transferred 100,000 shares of common stock to a grantor retained annuity trust on November 25, 2024.

Summary

• Kevin M. Sheehan, a director at Gannett Co., transferred 100,000 shares of common stock.
• The transfer occurred on November 25, 2024.
• The shares were transferred to a grantor retained annuity trust (GRAT).
• Sheehan is not a trustee of the GRAT.
• Following the transaction, Sheehan directly owns 187,530 shares of Gannett Co. common stock.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing regarding a stock transfer for estate planning purposes and does not indicate any positive or negative sentiment towards the company.

Industry Context

This is a routine filing related to a director's personal financial planning and does not reflect any operational changes at Gannett Co.

Comparison to Industry Standards

• Transactions of this nature are common among corporate directors and executives as part of their personal financial planning.
• The use of grantor retained annuity trusts (GRATs) is a standard estate planning technique.
• The reporting of such transactions is mandated by the SEC to ensure transparency in insider trading.

Stakeholder Impact

• The transaction has no direct impact on shareholders, employees, customers, suppliers, or creditors as it is a personal financial transaction of a director.

Key Dates

Keywords

Gannett Co., Kevin M. Sheehan, stock transfer, grantor retained annuity trust, GRAT, director, beneficial ownership, SEC Form 4