Form 4: Beth A. Brooke Reports Changes in Beneficial Ownership of New York Times Co Stock

Director Beth A. Brooke reports acquisition of restricted stock units and changes in beneficial ownership of New York Times Company stock.

Summary

• On April 24, 2024, Beth A. Brooke, a director of The New York Times Company, reported changes in her beneficial ownership of the company's stock.
• She acquired 4,048 shares of Class A Common Stock through a grant of stock-settled restricted stock units under the company's 2020 Incentive Compensation Plan.
• These restricted stock units vest on the date of the following Annual Meeting of Stockholders.
• Vested shares will be delivered within 90 days following the cessation of her membership on the Board of Directors.
• Following the reported transaction, Brooke directly owns 15,842 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices and alignment of director interests with shareholders.

Positives

• The acquisition of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service on the Board of Directors.

Future Outlook

The document does not contain specific forward-looking statements regarding the company's future performance.

Industry Context

This filing is a routine disclosure related to insider transactions and is common for publicly traded companies. It provides transparency into the ownership structure and alignment of interests between management and shareholders.

Comparison to Industry Standards

• Stock grants to directors are a common practice in publicly traded companies to incentivize performance and align interests with shareholders.
• The vesting schedule and delivery of shares upon cessation of board membership are typical terms for such grants.
• Companies like Gannett, News Corp, and Lee Enterprises also utilize stock-based compensation for their directors.

Stakeholder Impact

• The stock grant aligns the director's interests with those of the shareholders, potentially leading to decisions that benefit the company's long-term value.
• The vesting schedule encourages continued service on the Board of Directors, providing stability and experience.

Next Steps

• The restricted stock units will vest on the date of the next Annual Meeting of Stockholders.
• Vested shares will be delivered within 90 days following the cessation of the reporting person's membership on the Board of Directors.

Key Dates