Form 4: NYT Executive Sells Shares Under 10b5-1 Plan

A New York Times Company executive sold 1,913 shares of Class A Common Stock for approximately $73.57 per share under a pre-arranged plan.

Summary

• R. Anthony Benten, SVP, Treasurer & CAO of The New York Times Company, reported a sale of Class A Common Stock.
• The transaction involved 1,913 shares of Class A Common Stock.
• The shares were sold at a weighted average price of $73.574 per share, with prices ranging from $73.470 to $73.585.
• The sale occurred on February 17, 2026, and was made pursuant to a Rule 10b5-1 plan.
• Following the transaction, Benten beneficially owns 37,772 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. While it is an insider sale, the transaction was executed under a pre-arranged Rule 10b5-1 plan, which typically indicates a scheduled financial event rather than a reaction to new company developments.

Negatives

• An executive, R. Anthony Benten, sold 1,913 shares of company stock. While insider sales can sometimes be viewed negatively, this transaction was made pursuant to a Rule 10b5-1 plan, indicating it was pre-scheduled and not a discretionary sale based on new information.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future performance.

Industry Context

StockSavvy.ai notes that insider sales, particularly those executed under a Rule 10b5-1 plan, are a common practice for executives to manage personal finances and diversify holdings. Such pre-scheduled transactions are generally viewed as less indicative of management's immediate outlook on the company's prospects compared to discretionary sales, aligning with standard practices across the media industry.

Comparison to Industry Standards

• Insider sales under Rule 10b5-1 plans are a standard mechanism for executives across all industries, including media, to sell shares in a compliant and pre-planned manner. This specific transaction, involving 1,913 shares, is a relatively small volume for an executive at a company of The New York Times' size, and is consistent with routine personal financial management rather than a significant shift in holdings. Comparable transactions occur regularly at peer companies like Gannett (GCI) or News Corp (NWS).

Corporate Governance

Stakeholder Impact

• Shareholders: May observe the insider sale, but its execution under a 10b5-1 plan mitigates concerns that it signals a negative outlook on the company's future performance.

Key Dates

Recommendation

The filing reports a routine, pre-scheduled insider sale of a relatively small number of shares by an executive under a Rule 10b5-1 plan. This type of transaction is typically for personal financial planning and does not provide new fundamental information to warrant a change in investment recommendation. Investors should 'hold' and continue to monitor broader company performance and market trends.

Keywords

NYT, New York Times Company, Insider Trading, Form 4, Stock Sale, Executive Compensation, R. Anthony Benten, 10b5-1 Plan