Form 4: Gray Media, Inc. Executive D. Patrick LaPlatney Reports Stock Transactions

D. Patrick LaPlatney, President and Co-CEO of Gray Media, Inc., reports acquisition and disposal of common stock due to vesting of restricted stock and tax withholding.

Summary

• On February 28, 2025, D. Patrick LaPlatney, President and Co-CEO of Gray Media, Inc., acquired 14,185 shares of common stock at $3.76 per share due to the vesting of restricted stock.
• On the same day, LaPlatney disposed of 109,318 shares of common stock at $3.76 per share for tax withholding purposes.
• Following these transactions, LaPlatney directly owns 1,233,063 shares of common stock and indirectly owns 1,905 shares through a 401(k) plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The transactions are routine and related to executive compensation. The vesting of shares is a positive sign, but the disposal for tax purposes is a neutral event.

Positives

• The vesting of restricted stock indicates that performance targets were met, which could be viewed positively.

Negatives

• The disposal of 109,318 shares for tax withholding, while a normal occurrence, represents a significant amount of shares being sold by the Co-CEO.

Risks

• There are no specific risks mentioned in this document.
• However, large stock disposals by executives can sometimes be perceived negatively by the market.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. The vesting of restricted stock is a common form of executive compensation in the media industry.

Comparison to Industry Standards

• Executive compensation packages, including restricted stock units (RSUs), are common across the media industry.
• Companies like Nexstar Media Group (NXST) and Tegna (TGNA) also utilize RSUs as part of their executive compensation plans.
• The vesting schedules and performance metrics associated with these RSUs vary by company and individual agreement.

Stakeholder Impact

• The transactions have a minor impact on shareholders, as they reflect routine executive compensation adjustments.
• Employees may view the vesting of restricted stock as a positive sign of company performance.

Key Dates