Form 4: NYT Director Bronstein Acquires 54 Shares via RSUs

Manuel Bronstein, a director at The New York Times Company, acquired 54 Class A Common Stock shares through dividend equivalent restricted stock units.

Summary

• Director Manuel Bronstein acquired 54 shares of Class A Common Stock in The New York Times Company on October 23, 2025.
• These shares were Dividend Equivalent Restricted Stock Units (RSUs), granted in connection with cash dividends paid on previously awarded RSUs under the 2020 Incentive Compensation Plan.
• The acquisition was made at a price of $0 per share, reflecting the nature of dividend equivalent grants.
• Following this transaction, Mr. Bronstein directly beneficially owns a total of 17,973 shares of Class A Common Stock.
• Dividend Equivalent RSUs granted for vested underlying RSUs are fully vested at grant, while those for unvested RSUs will vest concurrently with the underlying unvested RSUs.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive as it reflects a routine grant of dividend equivalent restricted stock units, increasing director ownership, albeit without a direct cash investment.

Positives

• Director Manuel Bronstein increased his direct beneficial ownership in The New York Times Company by 54 shares, aligning his interests further with shareholders.
• The acquisition of Dividend Equivalent RSUs demonstrates a mechanism for directors to reinvest dividends from their equity awards back into company stock.

Negatives

• The acquisition of 54 shares represents a relatively small increase in beneficial ownership.
• The shares were acquired at a price of $0, indicating they were not a direct cash investment by the director but rather a grant of dividend equivalents.

Risks

• The Power of Attorney explicitly states that the attorneys-in-fact and The New York Times Company are not assuming the undersigned's responsibilities to comply with Section 16 of the Securities Exchange Act of 1934, highlighting the individual's ultimate responsibility for compliance with insider trading regulations.

Future Outlook

Not applicable as this filing is a report of a past insider transaction and does not contain forward-looking statements or guidance.

Industry Context

This filing is a routine insider transaction report and does not provide information related to broader industry trends or competitors within the media sector.

Corporate Governance

Related Party Transactions

• The acquisition of 54 Dividend Equivalent Restricted Stock Units (RSUs) by Director Manuel Bronstein is a form of equity compensation, which is a common related-party transaction between a company and its directors.
• Manuel Bronstein granted a Power of Attorney to company personnel to handle his SEC filings, which is a standard administrative arrangement between a director and the company to facilitate compliance.

Stakeholder Impact

• Shareholders: The increase in director ownership, even through non-cash means, can be viewed as a positive signal of alignment between management and shareholder interests.
• Management: The Power of Attorney streamlines the administrative burden of SEC compliance for the director.

Key Dates

Recommendation

This Form 4 filing reports a routine acquisition of dividend equivalent restricted stock units by a director, which is a standard compensation practice and does not provide sufficient new information to alter an investment recommendation for The New York Times Company.

Keywords

NYT, New York Times, Manuel Bronstein, Director, Insider Transaction, Form 4, RSU, Dividend Equivalent, Stock Acquisition, Corporate Governance