Form 4: NYT CFO Bardeen Boosts Stake with Equity Awards

The New York Times Company's CFO, William Bardeen, acquired shares through performance-based awards and restricted stock units, while also selling shares to cover tax obligations.

Summary

• William Bardeen, Executive Vice President and Chief Financial Officer of The New York Times Company, reported several transactions involving Class A Common Stock.
• Bardeen acquired 31,668 shares of Class A Common Stock on February 26, 2026, as a performance-based equity award for achieving specific goals during the period from January 1, 2023, to December 31, 2025.
• He disposed of 16,173 shares of Class A Common Stock on February 26, 2026, at a price of $77.38 per share, to satisfy tax withholding obligations related to the performance-based award.
• Bardeen also received a grant of 6,600 stock-settled restricted stock units (RSUs) on February 26, 2026, which will vest in three equal annual installments beginning on February 26, 2027.
• An additional 746 shares of Class A Common Stock were disposed of on February 26, 2026, at $77.38 per share, to cover tax withholding for the one-third vesting of RSUs granted on February 26, 2025.
• Following these transactions, Bardeen beneficially owns 31,681 shares of Class A Common Stock.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event, reflecting routine executive compensation and alignment of management interests with long-term company performance, without indicating any material change in company fundamentals.

Positives

• The acquisition of 31,668 shares through a performance-based equity award indicates the achievement of company goals by management.
• The grant of 6,600 restricted stock units aligns the CFO's long-term interests with shareholder value through future vesting.

Negatives

• The disposition of 16,173 shares and 746 shares was solely to satisfy tax withholding obligations, which is a common practice for equity awards and not indicative of a negative outlook.

Future Outlook

The newly granted restricted stock units will vest in three equal annual installments, beginning on February 26, 2027, contingent on continued employment.

Industry Context

StockSavvy.ai notes that the use of performance-based equity awards and restricted stock units is a standard and widely adopted practice in executive compensation across various industries, including media, to incentivize long-term performance and align management interests with shareholder returns.

Comparison to Industry Standards

• Equity compensation, including performance-based awards and restricted stock units, is a common component of executive compensation packages across publicly traded companies, similar to practices at peers like The Washington Post (privately held, but similar compensation structures for executives) or other publicly traded media companies such as News Corp (NWS) or Gannett (GCI).
• The structure of vesting over multiple years is typical for retaining key executives and ensuring sustained performance, aligning with global benchmarks for executive incentive plans.

Stakeholder Impact

• Shareholders: The equity awards align the CFO's financial interests with the company's long-term performance, potentially benefiting shareholders through sustained growth.
• Employees: The compensation structure for a key executive may set a precedent or reflect the company's overall approach to incentivizing high-level talent.

Next Steps

• The restricted stock units granted on February 26, 2026, are scheduled to vest in three equal annual installments, with the first installment on February 26, 2027.

Key Dates

Recommendation

This Form 4 details routine insider compensation activities, specifically the vesting of equity awards and the grant of new restricted stock units, along with associated tax-related share sales. Such transactions are standard for executive compensation and do not typically indicate a material change in the company's operational performance or strategic direction, thus not warranting a change in investment thesis.

Keywords

New York Times Company, NYT, William Bardeen, CFO, Insider Transaction, Form 4, Equity Award, Restricted Stock Units, Performance-Based Compensation, Stock Compensation