Morgan Rachel 4

What Happened
Morgan Rachel, EVP and General Counsel of Nexstar Media Group (NXST), had equity awards vest on March 24, 2026 and subsequently sold 333 shares on March 25, 2026. 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 1,338 shares issued). On March 25 she sold 333 shares at $218.53 each for proceeds of $72,771. The sale was reported as being to cover tax withholding obligations tied to the vesting.

Key Details

• Transaction dates: vesting/conversion on 2026-03-24; sale on 2026-03-25; Form 4 filed 2026-03-26.
• Sale: 333 shares at $218.53 → $72,771 proceeds.
• Vesting/conversion: 750 RSU shares + 563 target PSUs converted into 588 shares = 1,338 shares issued.
• Reason for sale: tax withholding to satisfy payroll/tax obligations related to the RSU/PSU settlements (per footnote).
• Shares owned after the transactions: not specified in the filing.
• Filing timeliness: Form 4 was filed two days after the vesting date (not indicated as late).

Context
These were award settlements (RSUs and PSUs), not open‑market purchases. The derivative entries reflect conversion of restricted stock units and performance units into common shares (no exercise price). The small sale was routine tax‑withholding treatment following vesting and should not be read as a directional investment signal; purchases are generally more indicative of bullish insider sentiment.