Form 4: Brian P. McAndrews Reports Changes in Beneficial Ownership of New York Times Co Stock

Director Brian P. McAndrews reports acquisition of restricted stock units and phantom stock units in The New York Times Company.

Summary

• Brian P. McAndrews, a director of The New York Times Company, reported changes in his beneficial ownership of the company's stock on April 24, 2024.
• He 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 and will be delivered within 90 days following the cessation of his board membership.
• McAndrews also acquired 183.2996 phantom stock units under The New York Times Company Non-Employee Directors Deferral Plan, credited to his account in respect of dividend equivalent payments and accumulated interest.
• These phantom stock units were credited based on the average closing price of Class A Common Stock for the 30 trading days prior to April 24, 2024.
• Distribution in cash is generally made following the cessation of his board membership.
• Following these transactions, McAndrews beneficially owns 52,980 shares of Class A Common Stock and 16,968.4271 phantom stock units.

Sentiment

Score: 7

Explanation: The document is a standard SEC filing detailing stock transactions by a company director. It is neutral in tone and reflects routine compensation practices. The sentiment is slightly positive as it indicates continued investment and alignment of interests by a key insider.

Positives

• The acquisition of restricted stock units aligns the director's interests with those of the shareholders.
• The dividend equivalent payments on phantom stock units provide additional compensation to the director.

Future Outlook

Vested shares from the restricted stock units will be delivered within 90 days following the cessation of the reporting person's membership on the Board of Directors. Distribution of cash for phantom stock units is generally made following the cessation of the reporting person's membership on the Board of Directors.

Industry Context

This filing is a routine disclosure of stock ownership changes by a company insider, as required by the SEC. It provides transparency to investors regarding the holdings and transactions of company directors.

Stakeholder Impact

• The disclosure provides transparency to shareholders regarding the stock ownership of a company director.
• The transactions reflect the company's compensation practices for its board members.

Key Dates