Form 4: Rachel Glaser, New York Times Director, Receives Stock Grant

Director Rachel Glaser received a grant of stock-settled restricted stock units from The New York Times Company.

Summary

• Rachel Glaser, a director of The New York Times Company, filed a Form 4 indicating a change in beneficial ownership.
• On April 24, 2024, Glaser acquired 4,048 shares of Class A Common Stock through a grant of stock-settled restricted stock units.
• These restricted stock units were granted under The New York Times Company 2020 Incentive Compensation Plan.
• Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock and vests on the date of the following Annual Meeting of Stockholders.
• Vested shares will be delivered within 90 days following the cessation of Glaser's membership on the Board of Directors.
• Following the transaction, Glaser beneficially owns 29,223 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard executive compensation practices and aligns director interests with shareholders.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service on the Board of Directors.

Future Outlook

The restricted stock units will vest on the date of the following Annual Meeting of Stockholders, contingent on continued service on the Board of Directors.

Industry Context

Stock grants are a common form of executive compensation in the media industry, aligning management's interests with shareholder value.

Stakeholder Impact

• The stock grant aligns the director's interests with those of the shareholders, potentially leading to better corporate governance and decision-making.

Next Steps

• The restricted stock units will vest on the date of the following Annual Meeting of Stockholders.

Key Dates