Biard Michael 4
4 · NEXSTAR MEDIA GROUP, INC. · Filed May 28, 2025
Insider Transaction Report
Form 4
Biard Michael
President & COO
Transactions
- Exercise/Conversion
Common Stock
2025-05-23+2,500→ 6,292 total - Exercise/Conversion
Common Stock
2025-05-23+3,108→ 9,400 total - Exercise/Conversion
Restricted Stock Units
2025-05-23−2,500→ 7,500 total→ Common Stock (2,500 underlying) - Exercise/Conversion
Restricted Stock Units
2025-05-23−2,500→ 7,500 total→ Common Stock (3,108 underlying) - Sale
Common Stock
2025-05-27$173.59/sh−2,182$378,780→ 7,218 total
Footnotes (5)
- [F1]Each time-based restricted stock unit ("RSU") is converted into one share of Nexstar's common stock at the vesting date. Each performance-based restricted stock unit ("PSU") represents the right to receive, following vesting, between 0% and 200% of one share of Nexstar's Common Stock, subject to the level of achievement of pre-established company performance metric.
- [F2]10,000 RSUs were awarded on May 23, 2024, of which, 2,500 RSUs vest at each anniversary of the award through May 23, 2028.
- [F3]10,000 target PSUs were awarded on May 23, 2024, of which, 2,500 target PSUs vest at each anniversary of the award through May 23, 2028, subject to the achievement of pre-established company performance metric. The number of shares of Nexstar's common stock that may be earned is between 0% and 200% of the target number of PSUs. The Compensation Committee of Nexstar's Board of Directors performed an assessment and determined that the conditions to receive 124.33% of the target number of PSUs were satisfied. Thus, the 2,500 target PSUs that vested on May 23, 2025 were converted into 3,108 shares of Nexstar common stock.
- [F4]The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the settlement of RSUs and PSUs that vested on May 23, 2025.
- [F5]The RSUs/PSUs have no expiration. However, any and all unvested portion of RSUs/PSUs shall be forfeited and cancelled should the awardee's employment terminate for any reason other than a company change of control.