Form 4: TEGNA Inc. SVP and Chief Legal Officer Lauren Fisher Newberg Reports Stock Transactions

Lauren Fisher Newberg, SVP and Chief Legal Officer of TEGNA Inc., reports the vesting of restricted stock units and subsequent stock transactions.

Summary

• On February 29, 2024, Lauren Fisher Newberg, SVP and Chief Legal Officer of TEGNA Inc., had 15,442 restricted stock units vest.
• These units were converted into shares of common stock.
• Also on February 29, 2024, 6,964 shares were withheld to satisfy tax obligations at a price of $14.01.
• Following these transactions, Newberg directly owns 8,478 shares of common stock.
• She also indirectly owns 798.228 shares through a 401(k) plan.
• On March 1, 2024, Newberg acquired 33,582 restricted stock units.
• These restricted stock units vest in four equal annual installments beginning February 28, 2025.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't convey strong positive or negative sentiment, but rather provides factual information. The vesting of stock units is generally a positive sign for the employee.

Positives

• The vesting of restricted stock units indicates a form of compensation and incentive for the reporting person.

Future Outlook

The remaining restricted stock units from the February 29, 2024 vesting will be delivered in three equal annual installments beginning on March 1, 2025. The 33,582 restricted stock units acquired on March 1, 2024, will vest in four equal annual installments beginning on February 28, 2025.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their stock transactions. It's a standard practice for executives to receive stock-based compensation and report changes in their holdings.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies to align the interests of executives with those of shareholders.
• The vesting schedules and terms of restricted stock units are generally comparable to those offered by peer companies in the media and broadcasting industry.
• Companies like Nexstar Media Group, Sinclair Broadcast Group, and Gray Television also utilize stock-based compensation for their executives.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine executive compensation.
• Employees may view the vesting of stock units as a positive sign of company performance and individual contribution.

Next Steps

• The reporting person will receive the remaining vested shares in annual installments.
• The newly acquired restricted stock units will continue to vest according to their schedule.

Key Dates