Form 4: New York Times Director Brian P. McAndrews Acquires Shares Through Dividend Equivalent Units

Brian P. McAndrews, a director at The New York Times Company, acquired 117 shares of Class A Common Stock through dividend equivalent restricted stock units.

Summary

• Brian P. McAndrews, a director of The New York Times Company, acquired 117 shares of Class A Common Stock on January 23, 2025.
• The acquisition was through the grant of restricted stock units (RSUs) that are equivalent to cash dividends paid on the company's Class A Common Stock.
• These dividend equivalent RSUs were granted under the company's 2020 Incentive Compensation Plan.
• The RSUs granted in respect of vested RSUs are fully vested at grant.
• RSUs granted in respect of unvested RSUs will vest on the date that such unvested RSUs vest, which is the date of the Company's first annual meeting following the initial grant.
• Following this transaction, Mr. McAndrews directly owns 53,327 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to positively. The acquisition of shares by a director can be seen as a positive sign of confidence in the company.

Positives

• The acquisition of shares by a director can be seen as a positive sign of confidence in the company's future.
• The use of dividend equivalent RSUs aligns director compensation with shareholder returns.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This is a routine filing related to director compensation and is common practice for publicly traded companies. It reflects the company's compensation policies and alignment of director interests with shareholders.

Comparison to Industry Standards

• The use of restricted stock units and dividend equivalent units is a common practice in executive and director compensation across various industries, including media and publishing.
• Many companies, such as Gannett Co., Lee Enterprises, and News Corp, also use similar equity-based compensation plans to align the interests of their directors and executives with those of their shareholders.
• The number of shares acquired is relatively small compared to the total shares outstanding, which is typical for these types of transactions.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with shareholder returns.
• The transaction has no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

New York Times, Director, Brian P. McAndrews, Class A Common Stock, Restricted Stock Units, Dividend Equivalent Units, Incentive Compensation Plan, Share Acquisition