Form 4: NYT Director Acquires 89 Shares via Dividend RSU Grant

New York Times Company Director Amanpal S. Bhutani acquired 89 Class A Common Stock shares through a dividend equivalent restricted stock unit grant on October 23, 2025.

Summary

• Amanpal S. Bhutani, a Director of The New York Times Company, acquired 89 shares of Class A Common Stock.
• The acquisition occurred on October 23, 2025, and was reported on October 27, 2025.
• These shares were acquired as Restricted Stock Units (RSUs) at a price of $0, specifically as 'Dividend Equivalent RSUs'.
• Dividend Equivalent RSUs are granted in connection with, and have a value equal to, cash dividends paid on the company's Class A Common Stock.
• Dividend Equivalent RSUs granted for previously vested RSUs are fully vested at the time of grant.
• Dividend Equivalent RSUs granted for unvested RSUs will vest concurrently with the underlying unvested RSUs, which is typically the date of the company's first annual meeting following the initial grant.
• Following this transaction, Amanpal S. Bhutani directly beneficially owns 29,620 shares of Class A Common Stock.
• A Power of Attorney, dated August 7, 2025, authorizes specific individuals to execute and file SEC Forms ID, 3, 4, and 5 on behalf of Amanpal S. Bhutani.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive. While a routine compensation event, an insider increasing their stake, even through a grant, can be viewed as a minor positive signal of continued commitment and alignment with shareholder interests. It is not a significant market-moving event.

Positives

• A director increasing their beneficial ownership, even through a compensation grant, can signal continued alignment with shareholder interests.
• The grant of Dividend Equivalent RSUs demonstrates a standard, ongoing compensation mechanism for directors, linking their holdings to company performance (dividends).

Future Outlook

Dividend Equivalent 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.

Industry Context

Insider transactions, particularly those involving restricted stock units or dividend equivalents, are a common component of executive and director compensation across various industries, including media and publishing. These grants align insider interests with long-term company performance and shareholder returns.

Comparison to Industry Standards

• The grant of Restricted Stock Units (RSUs) and Dividend Equivalent RSUs is a standard practice in executive and director compensation packages across publicly traded companies, including those in the media sector like The New York Times Company.
• The $0 acquisition price for RSUs is typical, as these are compensation grants rather than open market purchases.
• The vesting schedule tied to underlying unvested RSUs is also a common mechanism to ensure retention and performance alignment.

Related Party Transactions

• The acquisition of Dividend Equivalent RSUs by a director is a transaction between the company and a related party (director) as part of a compensation plan.

Stakeholder Impact

• Shareholders: The director's increased beneficial ownership aligns their interests more closely with shareholders, potentially fostering long-term value creation.
• Management: The RSU grant is part of the director's compensation, incentivizing continued service and performance.

Next Steps

• Vesting of Dividend Equivalent RSUs granted in respect of unvested RSUs will occur on the date the underlying unvested RSUs vest, typically at the company's first annual meeting following the initial grant.

Key Dates

Keywords

New York Times Company, NYT, Amanpal S. Bhutani, Director, Form 4, Insider Transaction, Restricted Stock Units, RSUs, Dividend Equivalent RSUs, Class A Common Stock, Beneficial Ownership