Form 4: TEGNA INC Executive Thomas R. Cox Acquires Performance Shares

Thomas R. Cox, SVP, Digital and Chief Growth Officer at TEGNA INC, acquired 16,610.976 performance shares on February 11, 2025, which will vest on February 28, 2026.

Summary

• On February 11, 2025, Thomas R. Cox, SVP, Digital and Chief Growth Officer at TEGNA INC, acquired 16,610.976 performance shares.
• These performance shares, representing a contingent right to receive one share of common stock each, were acquired at a price of $0.
• The shares vest on February 28, 2026, and will be delivered on or about March 1, 2026, unless there is an earlier termination of employment or a change in control of the Issuer.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation transaction, which is generally viewed neutrally to positively as it aligns management interests with shareholders.

Positives

• The acquisition of performance shares by a key executive signals confidence in the company's future performance.

Future Outlook

The performance shares vest in February 2026, aligning executive compensation with long-term company performance.

Industry Context

This type of equity compensation is common in the media industry to incentivize executives and align their interests with those of shareholders.

Comparison to Industry Standards

• Equity compensation is a standard practice across the media industry.
• Companies like News Corp and Paramount Global also use performance-based equity awards to incentivize their executives.
• The vesting schedule and performance metrics associated with these awards vary depending on the company's specific goals and circumstances.

Stakeholder Impact

• The acquisition of performance shares aligns the executive's interests with those of the shareholders, potentially driving long-term value creation.

Key Dates