Form 4: The New York Times Company Director Acquires Dividend Equivalent RSUs

Anuradha B. Subramanian, a director of The New York Times Company, acquired 13 shares of Class A Common Stock through Dividend Equivalent Restricted Stock Units (RSUs).

Summary

• On July 25, 2024, Anuradha B. Subramanian, a director of The New York Times Company, acquired 13 shares of Class A Common Stock.
• The acquisition was through Dividend Equivalent Restricted Stock Units (RSUs) at a price of $0.
• These RSUs were acquired in respect of previously reported RSUs awarded under The New York Times Company 2020 Incentive Compensation Plan.
• The Dividend Equivalent RSUs have a value equal to cash dividends paid on The New York Times Company's Class A Common Stock.
• Dividend Equivalent RSUs granted in respect of vested RSUs are fully vested at grant.
• 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.
• Following the transaction, Subramanian directly owns 5,878 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director's acquisition of shares, even through dividend equivalents, signals confidence in the company. However, the amount is small and part of a standard compensation plan.

Positives

• The acquisition of Dividend Equivalent RSUs reflects the director's continued investment in the company.
• The structure of the RSUs aligns the director's interests with those of shareholders, as the value is tied to dividends paid on the common stock.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It provides transparency to shareholders regarding insider transactions.

Key Dates