Form 4: Arthur G. Sulzberger, Chairman and Publisher of The New York Times Company, Reports Changes in Beneficial Ownership

Arthur G. Sulzberger, Chairman and Publisher of The New York Times Company, filed a Form 4 detailing the disposal of Class A Common Stock to satisfy tax withholding obligations related to vesting restricted stock units.

Summary

• On February 21, 2025, Arthur G. Sulzberger disposed of 1,968 shares of Class A Common Stock at $48.76 per share to cover tax obligations related to vesting restricted stock units.
• On February 24, 2025, Sulzberger disposed of 1,883 shares of Class A Common Stock at $48.03 per share for similar tax obligations.
• Following these transactions, Sulzberger directly owns 113,756 shares of Class A Common Stock.
• Sulzberger also indirectly owns shares through trusts and as a custodian for a minor child, including 60,323 shares by trust, 4,825 shares by trust, 1,554 shares as UTMA custodian, and 1,400,000 shares by trust.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions for tax purposes, indicating a neutral sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The disposal of shares to cover tax obligations upon vesting of restricted stock units is a common practice among executives.

Comparison to Industry Standards

• Comparing Sulzberger's transactions to those of other media executives, similar patterns of stock disposal for tax purposes are frequently observed.
• For example, executives at Gannett or News Corp often report similar transactions related to vesting equity awards.
• The amounts and frequency are typical for executives with significant equity compensation.

Stakeholder Impact

• The transactions have a minimal impact on shareholders, as they are related to tax obligations and do not represent a significant change in ownership.

Key Dates