WEITMAN GARY 4

What Happened Gary Weitman, EVP & Chief Communications Officer of Nexstar Media Group (NXST), had vested equity convert into common stock and sold shares to cover tax withholding. On March 24, 2026 he converted 750 time‑based RSUs and 588 performance‑based RSUs (total 1,338 shares; $0 exercise price) into Nexstar common stock. He also sold 3,527 shares at $226.00 on March 24 and 333 shares at $218.53 on March 25, 2026 — total proceeds ≈ $869,873. The filing states the sales were to cover tax withholding on the vested awards.

Key Details

• Conversion/exercise (M): 750 RSUs and 588 PSUs converted into 1,338 shares on 2026-03-24 at $0.00 per share (vesting/conversion, no purchase price).
• Open‑market sales (S): 3,527 shares @ $226.00 on 2026-03-24 ($797,102) and 333 shares @ $218.53 on 2026-03-25 ($72,771); total proceeds ≈ $869,873.
• PSU note: 563 target PSUs vested and, due to performance at 104.54% of target, converted into 588 shares (per filing).
• Purpose: Filing states shares were sold to cover tax withholding obligations related to the March 24, 2026 settlements.
• Filing timeliness: Report filed 2026-03-26 for transactions on 2026-03-24 — timely (not marked late).
• Shares owned after the transactions: not specified in the provided excerpt of the filing.

Context

• These were equity settlements (RSU/PSU conversions) rather than option purchases; the converted awards have a $0 exercise price because they represent vested restricted stock units and performance units. The immediate sale of shares to satisfy tax withholding is common and generally considered a routine administrative transaction rather than a directional bet on the stock.