Form 4: David S. Perpich Reports Changes in Beneficial Ownership of New York Times Co. Stock

Director David S. Perpich reports acquisition and disposal of New York Times Company Class A Common Stock due to performance-based equity awards and tax obligations.

Summary

• David S. Perpich, a director of The New York Times Company, filed a Form 4 detailing changes in his beneficial ownership of Class A Common Stock.
• On February 26, 2025, Perpich acquired 9,948 shares upon achievement of performance goals under the 2020 Incentive Compensation Plan.
• He also disposed of 4,009 shares to satisfy tax withholding obligations related to the acquired shares at a price of $47.88 per share.
• Additionally, Perpich was granted 2,378 stock-settled restricted stock units, which vest in three equal annual installments starting February 26, 2026.
• Following these transactions, Perpich directly owns 31,569 shares and indirectly owns 1,400,000 shares and 11,000 shares through a trust, as well as 491 and 492 shares as UTMA custodian for minor children.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation. The acquisition of shares due to performance goals is a positive sign, but the disposal for tax obligations is neutral.

Positives

• The acquisition of 9,948 shares indicates achievement of performance goals, which could be viewed positively.
• The grant of 2,378 restricted stock units suggests continued confidence in Perpich's role and the company's future.

Negatives

• The disposal of 4,009 shares, while for tax obligations, represents a decrease in direct ownership.

Future Outlook

The restricted stock units vest in three equal annual installments beginning on February 26, 2026, assuming continued employment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates standard compensation practices and tax-related transactions.

Comparison to Industry Standards

• Equity compensation is a common practice among publicly traded companies to align the interests of executives and shareholders.
• The vesting schedule of the restricted stock units (three equal annual installments) is a typical arrangement.
• Selling shares to cover tax obligations is a standard practice after receiving equity compensation.

Stakeholder Impact

• The transactions have a minor impact on shareholders, reflecting standard executive compensation practices.
• Employees may be indirectly affected by the performance-based equity awards, as they incentivize executives to achieve company goals.

Next Steps

• Continued monitoring of insider transactions for further insights into management's perspective on the company's performance.

Key Dates