Sinclair (SBGI) 10% Owner Frederick G. Smith Buys Net 792 Shares

What Happened

• Frederick G. Smith, a 10% owner of Sinclair, Inc. (SBGI), reported open-market transactions on 2026-09-21. He sold two lots of 100 shares each (100 @ $13.51 and 100 @ $13.50) for a total of $2,701, and purchased 992 shares at $13.51 each for $13,398. The combined effect is a net acquisition of 792 shares and a net cash outflow of $10,697. The Form 4 was filed on 2026-09-23 (reporting period 2026-09-21).

Key Details

• Transaction dates and prices:
  • Sold 100 shares @ $13.51 = $1,351 (2026-09-21)
  • Sold 100 shares @ $13.50 = $1,350 (2026-09-21)
  • Purchased 992 shares @ $13.51 = $13,398 (2026-09-21)
• Net position change from these trades: +792 shares; net cash spent = $10,697.
• Ownership noted on the filing (footnote): Smith directly owns 3,000,000 Class B shares, 189,000 Class A shares, and 17,801.567198 Class A shares held in a 401(k) unitized stock fund.
• Footnotes: F1/F3 indicate Smith exercised his right to substitute the corpus of a trust and withdrew shares from the trust for the benefit of his child; F2 lists his other direct holdings. These trust transactions are not a straightforward market sentiment signal.
• Timeliness: The Form 4 was filed two days after the transaction date (filed 2026-09-23 for activity on 2026-09-21), which is within the typical two-business-day reporting window.

Context

• As a 10% owner (large insider), Smith’s moves can reflect personal or family planning (the trust substitution/withdrawal noted) as much as investment views; such transfers often relate to estate or beneficiary arrangements rather than trading intent. Purchases are generally more informative than sales for gauging insider sentiment; here the net effect was a purchase of 792 shares. The trust-related footnotes suggest some activity involved shifting shares for a family beneficiary rather than a pure open-market investment decision.