ALFORD ANDREW 4

What Happened
Andrew Alford, President of Broadcasting at Nexstar Media Group (NXST), had 938 restricted stock units (RSUs) convert into common shares on June 3, 2026 (reported as a derivative exercise/conversion). The filing shows a disposition of 938 derivative shares that same day and an open-market sale on June 4, 2026 of 368 shares at $182.42 per share, generating $67,129. This was a sale to cover tax withholding tied to RSU settlement rather than a market-directed investment decision.

Key Details

• Transaction dates/prices:
  • June 3, 2026: 938 RSUs converted to 938 shares (derivative exercise/conversion) — reported acquisition at $0.00 (code M).
  • June 3, 2026: 938 derivative shares reported disposed (reported $0.00) — likely part of settlement/withholding.
  • June 4, 2026: Open-market sale of 368 shares at $182.42 each for $67,129 (code S).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Relevant footnotes:
  • F1: Each time‑based RSU converts to one share upon continued service through the vesting date.
  • F2: Original award on June 3, 2022 was 3,750 RSUs, vesting as 937, 938, 937 and 938 RSUs on 2023–2026 respectively.
  • F3: The June 4 sale represents shares sold to cover tax withholding for the RSUs that vested June 3, 2026.
• Filing timeliness: Form 4 was filed June 5, 2026 for transactions on June 3–4 — appears to be filed in the normal reporting window.

Context
This was not a purchase signal. The activity reflects RSU vesting and routine share disposition to satisfy tax withholding obligations (a common, administrative sale). The conversion of RSUs into shares is recorded as a derivative exercise (no purchase price), and a portion of the resulting shares were sold in the open market to cover taxes. Such tax-withholding sales generally do not indicate executive sentiment about the company’s prospects.