Russell Blake 4

What Happened

• Russell Blake, EVP, Operations at Nexstar Media Group (NXST), had time‑based RSUs and performance PSUs vest on March 24, 2026 and those awards converted into common shares. Specifically, 750 time‑based RSUs vested and converted into 750 shares, and 563 target PSUs vested and — at a 104.54% payout — converted into 588 shares (total converted = 1,338 shares).
• To satisfy tax withholding related to the vesting, some shares were reported as withheld (reported as $0 dispositions) and an additional 333 shares were sold in the open market on March 25, 2026 at $218.53 per share, generating $72,771. This sale was reported on Form 4 and appears to be a routine sale to cover tax obligations rather than a market-timing purchase.

Key Details

• Transaction types/dates: RSU/PSU conversions (derivative exercise/conversion, code M) on 2026-03-24; open‑market sale (code S) of 333 shares on 2026-03-25 at $218.53.
• Sale proceeds: 333 shares × $218.53 = $72,771.
• PSU payout: 563 target PSUs converted into 588 shares (104.54% of target), per the filing.
• Withholding: Filing shows zero-dollar dispositions consistent with shares withheld to satisfy tax withholding; the March 25 open‑market sale also covered withholding obligations.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Timeliness: Form 4 was filed on 2026-03-26 reporting a 2026-03-24 vesting/sale — this appears to be a timely filing (Form 4 is due within two business days).

Context

• These were award settlements (RSUs and PSUs) converting to common stock on vesting; the sale was to cover taxes (common practice). Derivative code M here reflects conversion/exercise of restricted units into shares rather than a stock option cash exercise. This type of transaction is typically administrative (tax withholding) rather than a directional bet on the stock.