Form 4: Gray Television CEO Howell Reports Stock Transactions

Gray Television's CEO, Hilton Howell Jr., reports acquisition and disposal of Class A Common Stock due to vesting of restricted stock and tax withholding.

Summary

• On February 29, 2024, Hilton Howell Jr., Chairman, President & CEO of Gray Television Inc., engaged in transactions involving Class A Common Stock.
• Howell acquired 35,651 shares at a price of $6.61 due to the vesting of restricted stock related to a three-year performance period.
• He also disposed of 112,288 shares for tax withholding purposes, also at $6.61.
• Following these transactions, Howell directly owns 2,972,386 shares of Class A Common Stock.
• Additionally, Howell has indirect ownership through his spouse, children, and trusts for his children.
• These indirect holdings include 81,635 shares held by his spouse, 500 shares held by his children, 999,000 shares held in a trust for his children, 832,500 shares held in another trust for his children, 617,609 shares of common stock, 81,226 shares held by his spouse, and 14,232 shares held by a 401(k) plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing primarily reports routine stock transactions related to executive compensation. The vesting of shares is a positive sign, but the disposal for tax withholding is a neutral event.

Positives

• The vesting of restricted stock indicates that performance targets were met over the three-year performance period.

Negatives

• The disposal of 112,288 shares for tax withholding reduces Howell's direct ownership position.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in the CEO's holdings, but the overall impact is likely to be minimal.

Key Dates