Form 4: The New York Times Company Executive Anthony Benten Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
SVP, Treasurer & CAO of The New York Times Company, Anthony Benten, reports disposing of shares to cover tax withholding obligations related to vesting stock-settled restricted stock units.
Summary
- Anthony Benten, SVP, Treasurer & CAO of The New York Times Company, filed a Form 4 indicating changes in beneficial ownership.
- On February 21, 2025, 131 shares of Class A Common Stock were disposed of at a price of $48.76 to satisfy tax withholding obligations.
- On February 24, 2025, 161 shares of Class A Common Stock were disposed of at a price of $48.03 to satisfy tax withholding obligations.
- Following these transactions, Benten beneficially owns 38,134 shares of Class A Common Stock.
- These disposals relate to the vesting of stock-settled restricted stock units granted under The New York Times Company 2020 Incentive Compensation Plan.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to executive stock transactions for tax purposes, indicating a neutral sentiment.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies, often related to compensation plans and tax obligations. These transactions are closely monitored by investors for insights into management's perspective on the company's value and future prospects.
Comparison to Industry Standards
- Executive compensation practices, including the use of restricted stock units, are standard across publicly traded companies like The New York Times Company.
- Companies such as Gannett, News Corp, and Lee Enterprises also utilize similar equity-based compensation plans for their executives.
- The vesting schedules and tax withholding practices observed in this filing are consistent with industry norms for executive compensation.
Stakeholder Impact
- The stock disposals are unlikely to have a significant impact on shareholders, as they are related to routine tax obligations.
- Employees who are also recipients of restricted stock units may be interested in the details of these transactions for their own tax planning.
Key Dates
| Date | Description |
|---|---|
| 02/22/2023 | Date of grant for one-third vesting of stock-settled restricted stock units under The New York Times Company 2020 Incentive Compensation Plan. |
| 02/21/2024 | Date of grant for one-third vesting of stock-settled restricted stock units under The New York Times Company 2020 Incentive Compensation Plan. |
| 02/21/2025 | Transaction date for the disposal of 131 shares at $48.76. |
| 02/24/2025 | Transaction date for the disposal of 161 shares at $48.03. |
| 02/25/2025 | Date of signature for the Form 4 filing. |
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