Biard Michael 4

4 · NEXSTAR MEDIA GROUP, INC. · Filed Jun 10, 2026

AI-generated summary of this filing

Updated Jun 10, 2026

Nexstar (NXST) President Michael Biard Receives 3,108 Shares

What Happened

Michael Biard, President & COO of Nexstar Media Group (NXST), had 2,500 target performance-based restricted stock units (PSUs) vest on June 8, 2026. The Compensation Committee determined achievement at 124.33% of target, so the vested PSUs converted into 3,108 shares of Nexstar common stock. The Form 4 shows an acquisition of 3,108 shares (exercise/conversion, code M) and a corresponding disposition of 2,500 derivative units at $0.00 (conversion of the PSUs, no cash sale).

Key Details

Transaction date: 2026-06-08; Form 4 filed: 2026-06-10 (filed within the typical 2-business-day window).
Converted shares acquired: 3,108 shares; derivative units cancelled/converted: 2,500 target PSUs at $0.00.
Price/consideration: No cash changed hands for the conversion (conversion of PSUs, not an open-market sale or purchase).
Footnotes: F1 explains PSUs pay out 0%–200% of target based on performance and continued service. F2 notes 10,000 target PSUs were granted 5/23/2024 and 2,500 target PSUs vest each anniversary; the committee certified a 124.33% payout for this tranche.
Shares owned after transaction: Not specified in the provided excerpt of the filing.

Context

These were performance-based restricted stock units converting at a formulaic payout — a common form of executive compensation — not a market buy or sale. The "Disposed" derivative line at $0.00 represents the cancellation/conversion of the target PSU units into shares, not a cash sale. This filing is routine and timely.

Form 4

Period: 2026-06-08

President & COO

Transactions

Exercise/Conversion
Common Stock
[F1][F2]
2026-06-08+3,108→ 18,332 total
Exercise/Conversion
Restricted Stock Units
[F1][F2]
2026-06-08−2,500→ 5,000 total
→ Common Stock (3,108 underlying)

Footnotes (2)

[F1]Each performance-based restricted stock unit ("PSU") represents a contingent 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 and Reporting Person's continued service through the applicable vesting date.
[F2]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 were vested and converted into 3,108 shares of Nexstar common stock on June 8, 2026.

Signature

/s/ Mark Hoyla, Attorney-in-Fact for Michael Biard|2026-06-10

1 file