Form 4: New York Times Company EVP William Bardeen Reports Changes in Beneficial Ownership

William Bardeen, EVP and CFO of The New York Times Company, reports acquisition and disposal of Class A Common Stock related to performance-based equity awards and tax obligations.

Summary

• William Bardeen, the EVP and Chief Financial Officer of The New York Times Company, filed a Form 4 detailing changes in his beneficial ownership of the company's Class A Common Stock.
• On February 26, 2025, Bardeen acquired 8,191 shares of Class A Common Stock upon achieving specific goals under pre-established performance measures from December 27, 2021, to December 31, 2024, under the company's 2020 Incentive Compensation Plan.
• On the same day, Bardeen disposed of 3,303 shares at $47.88 per share to satisfy tax withholding obligations related to the acquired shares.
• Additionally, Bardeen acquired 5,549 stock-settled restricted stock units, each representing a contingent right to receive one share of Class A Common Stock, vesting in three equal annual installments beginning on February 26, 2026, assuming continued employment.
• Following these transactions, Bardeen beneficially owns 19,227 shares of Class A Common Stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing related to executive compensation. The acquisition of shares based on performance is mildly positive, while the disposal for tax obligations is neutral.

Positives

• The acquisition of shares indicates achievement of performance goals, which could be viewed positively.
• The grant of restricted stock units aligns management's interests with shareholders.

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 executive compensation and ownership transparency in publicly traded companies.

Comparison to Industry Standards

• Executive compensation packages, including performance-based equity awards and restricted stock units, are common across publicly traded companies.
• The vesting schedule of the restricted stock units (three equal annual installments) is a typical structure.
• Companies like Gannett and News Corp also utilize similar equity-based compensation plans for their executives.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect changes in executive ownership.
• Employees may be indirectly affected by the performance-based equity awards, which incentivize management to achieve company goals.

Key Dates