Form 4: TEGNA CEO David Lougee Executes Stock Options, Disposes of Shares for Tax Obligations
SEC Form 4 Filing
TEGNA CEO David Lougee exercised restricted stock units and disposed of shares to cover tax obligations on August 6, 2024.
Summary
- On August 6, 2024, David T Lougee, the President and CEO of TEGNA Inc., exercised restricted stock units, converting them into 109,422 shares of common stock.
- Following the transaction, Lougee directly owns 654,473.678 shares of TEGNA common stock.
- Additionally, Lougee indirectly owns 8,202.207 shares through a 401(k) plan.
- A portion of the acquired shares, specifically 49,349.322 shares, were disposed of at a price of $14.52 to satisfy tax obligations related to the vesting of the restricted stock units.
- The remaining restricted stock units will vest on August 6, 2025, provided Lougee remains employed by TEGNA.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't contain information that would significantly sway investor sentiment positively or negatively.
Future Outlook
The remaining restricted stock units will vest on August 6, 2025, provided the reporting person remains in continuous employment with the Issuer until such date. The corresponding shares of the Issuer's common stock (a) were delivered to the reporting person as to the applicable vested shares on August 7, 2024 and (b) following vesting and unless delivered earlier upon the occurrence of certain events, will be delivered to the reporting person on August 7, 2025.
Industry Context
This is a routine Form 4 filing, reflecting insider transactions related to executive compensation. Such filings are common and provide transparency into the trading activities of company insiders.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the exercise of existing stock options and the sale of shares to cover tax obligations, which is a normal part of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 08/06/2024 | Date of transaction: Exercise of restricted stock units and disposal of shares for tax obligations. |
| 08/06/2025 | Date when remaining restricted stock units vest, contingent upon continued employment. |
| 08/07/2024 | Shares delivered to reporting person as to the applicable vested shares. |
| 08/07/2025 | Remaining shares will be delivered to the reporting person following vesting. |
| 08/08/2024 | Date of signature on the Form 4 filing. |
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