ALFORD ANDREW 4

What Happened
Andrew Alford, President, Broadcasting of Nexstar Media Group (NXST), had 1,784 shares of common stock convert from vested restricted stock units (RSUs) and performance stock units (PSUs) on March 24, 2026 (1,000 RSU shares + 784 PSU shares). He sold 623 of those shares in an open-market transaction on March 25, 2026 at $218.53 per share, receiving $136,145. The conversion entries show $0 exercise price because RSUs/PSUs convert into shares upon vesting rather than being purchased.

Key Details

• Transaction dates/prices: RSU/PSU vesting and conversion on 2026-03-24 (1,000 RSU shares + 784 PSU shares). Open-market sale of 623 shares on 2026-03-25 at $218.53 each (total $136,145).
• Shares acquired via conversion: 1,784 shares (no cash paid — these were vested RSUs/PSUs).
• Shares sold: 623 shares for $136,145 to cover tax withholding obligations.
• Notable footnotes: 3,000 RSUs awarded 3/24/2025 vest 1,000/year; 3,000 target PSUs awarded 3/24/2025 paid at 104.54% of target, so 750 target PSUs converted into 784 shares. Sale was to satisfy tax withholding on the vested awards (footnote F5).
• Shares owned after transaction: Not specified in the materials provided.
• Filing date: Form 4 filed 2026-03-26 for transactions on 2026-03-24/03-25. No indication in the provided details that the filing was late.

Context
The primary activity here is settlement of equity compensation (RSUs and PSUs) upon vesting; these converted shares are reported as acquired at $0 because they are awarded rather than bought. The subsequent open-market sale of a portion of the vested shares to cover taxes is routine and commonly seen after vesting events. The PSU payout exceeded target (104.54%), which increased the number of shares delivered from the PSU award.