Form 4: TEGNA INC: Executive Thomas R. Cox Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Thomas R. Cox, SVP, Digital and Chief Growth Officer at TEGNA INC, reports acquiring phantom stock units equivalent to 3,845.309 shares of common stock on February 3, 2025.
Summary
- On February 3, 2025, Thomas R. Cox, SVP, Digital and Chief Growth Officer at TEGNA INC, acquired 3,845.309 units of phantom stock.
- Each unit of phantom stock is equivalent to one share of TEGNA INC's common stock.
- The price of the phantom stock is $18.22 per share.
- Following the transaction, Mr. Cox directly owns 20,312.672 shares of phantom stock.
- The phantom stock is payable in cash or stock at the election of the reporting person on various dates selected by the reporting person or as otherwise provided in the Issuer's Deferred Compensation Plan.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to executive compensation, and does not inherently convey positive or negative sentiment.
Positives
- The acquisition of phantom stock may align the executive's interests with those of the shareholders.
Future Outlook
The phantom stock is payable in cash or stock at the election of the reporting person on various dates selected by the reporting person or as otherwise provided in the Issuer's Deferred Compensation Plan.
Industry Context
Executive compensation through phantom stock is a common practice in publicly traded companies to incentivize performance and align executive interests with shareholder value.
Comparison to Industry Standards
- Phantom stock grants are a fairly standard component of executive compensation packages, particularly in media companies like TEGNA.
- Comparable companies such as Nexstar Media Group and Sinclair Broadcast Group also utilize equity-based compensation, including restricted stock units and performance-based equity awards, to incentivize their executives.
Stakeholder Impact
- The acquisition of phantom stock by a key executive could be viewed positively by shareholders as it aligns management's interests with the company's performance.
Key Dates
| Date | Description |
|---|---|
| 02/03/2025 | Date of transaction: Thomas R. Cox acquired phantom stock. |
| 02/05/2025 | Date of report: Form 4 filing date. |
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