Tolston Alex J 4

What Happened Alex J. Tolston, SVP and Chief Legal Officer of TEGNA Inc. (TGNA), had four dispositions to the issuer on March 19, 2026 tied to the Nexstar merger. The filings show dispositions totaling ~157,325.57 shares at $22.00 per share, for aggregate proceeds of approximately $3,461,163. The transactions include both direct shares and derivative awards converted to cash (two of the dispositions are listed as derivative awards).

Key Details

• Transaction date and price: March 19, 2026; $22.00 per share.
• Disposition breakdown:
  • 35,486.21 shares — $780,697 (direct)
  • 823.362 shares — $18,114 (direct)
  • 72,748 shares — $1,600,456 (derivative)
  • 48,268 shares — $1,061,896 (derivative)
• Total disposed: ~157,325.57 shares for ~$3.46M.
• Shares owned after transaction: not specified in the filing.
• Transaction code: D (disposition to issuer — cash-out to company/acquirer).
• Filing timeliness: Report filed March 23, 2026 for a March 19 transaction (filed within the standard two business days after the transaction).

Context Per the Merger Agreement (effective with Nexstar’s acquisition), each TEGNA common share and vested RSU/PSU was converted into the right to receive $22.00 in cash. The derivative entries reflect cancelled RSU/PSU awards converted into merger consideration. These were not open-market sales but the routine cash settlements required by the merger agreement, which are generally procedural outcomes of an acquisition rather than standalone insider trading signals.