Form 4: Nexstar Media Group Executive Lee Ann Gliha Reports Stock Unit Awards

Lee Ann Gliha, EVP and CFO of Nexstar Media Group, reports the acquisition of restricted stock units and performance-based stock units on March 24, 2025.

Summary

• Lee Ann Gliha, the EVP and Chief Financial Officer of Nexstar Media Group, reported changes in beneficial ownership on March 26, 2025.
• On March 24, 2025, Gliha was awarded 5,625 time-based restricted stock units (RSUs) and 5,625 performance-based stock units (PSUs).
• The RSUs vest in installments each anniversary date of the award through March 24, 2028.
• The PSUs vest on March 24, 2026, 2027 and 2028, subject to the achievement of pre-established company performance metrics.
• Each RSU converts into one share of Nexstar's Common Stock at the vesting date.
• Each PSU represents the right to receive between 0% and 150% of one share of Nexstar's Common Stock, depending on performance.
• Gliha directly owns 5,625 RSUs and 5,625 PSUs following the reported transactions.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of executive compensation. The sentiment is neutral to slightly positive as it reflects continued investment in key personnel.

Positives

• The award of RSUs and PSUs aligns Gliha's interests with those of Nexstar's shareholders.
• The performance-based vesting of PSUs incentivizes Gliha to achieve company performance goals.

Risks

• Unvested RSUs and PSUs are forfeited if Gliha's employment terminates for reasons other than a company change of control.
• The actual number of shares received from PSUs may vary based on the achievement of performance metrics.

Future Outlook

The vesting of RSUs and PSUs is subject to continued employment and, in the case of PSUs, the achievement of pre-established company performance metrics.

Industry Context

Equity-based compensation is a common practice in the media industry to incentivize executives and align their interests with shareholders. The use of both time-based and performance-based vesting is also typical.

Comparison to Industry Standards

• Companies like Fox Corporation, Paramount Global, and Warner Bros. Discovery also utilize restricted stock units and performance-based equity awards as part of their executive compensation packages.
• The vesting schedules and performance metrics associated with these awards vary depending on the company and the specific role of the executive.
• Generally, the size of the equity grants is benchmarked against peer companies to ensure competitiveness and alignment with industry standards.

Stakeholder Impact

• Shareholders may view the equity awards as a positive sign, aligning executive interests with company performance.
• Employees may see the awards as a sign of confidence in the company's future.

Key Dates

Keywords

Nexstar Media Group, Lee Ann Gliha, restricted stock units, performance stock units, NXST, beneficial ownership, Form 4, executive compensation