Form 4: Nexstar Media Group Director Charles Thomas McMillen Corrects Beneficial Ownership After Administrative Oversight

Charles Thomas McMillen, a director of Nexstar Media Group, filed an amended Form 4 to correct an overstatement of beneficially owned shares due to an administrative error.

Summary

• Charles Thomas McMillen, a director at Nexstar Media Group, filed a Form 4 to report a transaction on June 28, 2021.
• The transaction involved the sale of 1,000 shares of Common Stock at a price of $151.7348 per share.
• Following the transaction, McMillen beneficially owns 5,535 shares directly.
• The filing also notes that previous Form 4 filings after June 28, 2021, overstated the number of shares beneficially owned by 1,000 shares due to an administrative oversight.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing primarily corrects a past error. The error itself is a minor negative, but the correction is a positive step for transparency.

Negatives

• Previous Form 4 filings after June 28, 2021, overstated the number of shares beneficially owned by the reporting person by 1,000 shares, indicating an administrative error.

Risks

• The late filing and correction suggest potential weaknesses in internal controls or compliance procedures.

Industry Context

Form 4 filings are standard practice for reporting transactions by company insiders, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• The correction of the overstated shares ensures accurate information for shareholders.

Key Dates

Keywords

Form 4, Beneficial Ownership, Nexstar Media Group, NXST, Charles Thomas McMillen, Director, Stock Sale