Form 4: NYT Executive R. Anthony Benten Reports Equity Awards

The New York Times Company's SVP, Treasurer & CAO, R. Anthony Benten, reported the acquisition of performance-based equity and restricted stock units, alongside sales to cover tax withholdings.

Summary

• R. Anthony Benten, SVP, Treasurer & CAO, acquired 7,085 shares of Class A Common Stock on February 26, 2026, as a performance-based equity award for achieving goals from January 1, 2023, to December 31, 2025.
• Benten also acquired 550 shares of Class A Common Stock on February 26, 2026, as a grant of stock-settled restricted stock units, which will vest in three equal annual installments starting February 26, 2027.
• To cover tax withholding obligations, Benten disposed of 2,887 shares at $77.38 related to the performance award and 121 shares at $77.38 related to the vesting of previously granted restricted stock units.
• Following these transactions, Benten's direct beneficial ownership of Class A Common Stock is 42,106 shares.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive signal, reflecting the achievement of performance goals by a key executive and the ongoing alignment of management incentives with shareholder value through equity awards, despite the routine tax-related share disposals.

Positives

• R. Anthony Benten received 7,085 shares of Class A Common Stock as a performance-based equity award, indicating the achievement of specific company goals over the 2023-2025 period.
• Benten was granted an additional 550 shares of Class A Common Stock in the form of restricted stock units, aligning his interests with long-term shareholder value.

Negatives

• R. Anthony Benten disposed of 2,887 shares and 121 shares of Class A Common Stock, totaling 3,008 shares, to satisfy tax withholding obligations, which represents a reduction in his direct ownership.

Future Outlook

The newly granted restricted stock units will vest in three equal annual installments beginning on February 26, 2027, assuming continued employment through the applicable vesting date.

Industry Context

StockSavvy.ai notes that executive equity awards and restricted stock units are common compensation practices across the media and publishing industry, aligning executive incentives with long-term company performance and shareholder interests. The tax-related sales are a standard consequence of such awards vesting.

Comparison to Industry Standards

• The use of performance-based equity awards and restricted stock units is a standard practice in executive compensation across publicly traded companies, including peers in the media sector such as Gannett Co., Inc. (GCI) and News Corporation (NWS).
• These compensation structures are designed to incentivize long-term performance and retention, similar to programs seen at these comparable entities. The specific vesting schedule and performance metrics are typical for such plans.

Related Party Transactions

• The transactions involve the reporting person (R. Anthony Benten) and the issuer (The New York Times Company) as part of an incentive compensation plan, which is a common form of related party dealing in executive compensation.

Stakeholder Impact

• Shareholders: The awards align executive interests with shareholder value creation. The tax-related sales are a minor dilution but are standard.
• Employees: Reflects the company's compensation strategy for key executives, potentially influencing broader compensation philosophies.
• Management: R. Anthony Benten's continued equity accumulation reinforces his stake in the company's long-term success.

Next Steps

• The newly granted restricted stock units will vest in three equal annual installments, with the first installment on February 26, 2027.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation and tax-related share disposals, which are standard and expected. It does not present new information that would significantly alter the investment thesis for The New York Times Company, thus a 'hold' recommendation is appropriate as it maintains the status quo.

Keywords

The New York Times Company, NYT, R. Anthony Benten, Form 4, Insider Transaction, Equity Award, Restricted Stock Units, Performance-based compensation, Stock ownership, Tax withholding, Executive compensation