Reed Michael 4
4 · USA TODAY Co., Inc. · Filed Mar 25, 2026
Research Summary
AI-generated summary of this filing
USA TODAY (TDAY) CEO Reed Michael Sells 139,481 Shares
What Happened
Reed Michael, CEO of USA TODAY Co., had 139,481 shares withheld to cover tax withholding obligations tied to the vesting of restricted stock units (RSUs). The shares were valued at $6.70 each for a total value of approximately $934,523. This was a withholding-for-taxes transaction (code F), not an open-market sell.
Key Details
- Transaction date: 2026-03-24; Filing date: 2026-03-25 (timely filing).
- Shares withheld/disposed: 139,481 at $6.70 per share; total value ≈ $934,523.
- Transaction code: F — shares withheld to satisfy tax withholding on RSU vesting.
- Footnotes: RSUs represent contingent rights to one share each; vesting is on a three-year schedule beginning Aug 2025 (one-third each year).
- Shares owned after the transaction: not specified in the filing.
Context
Withholding shares to cover taxes on vested RSUs is routine and does not necessarily signal a decision to reduce exposure to the company; it’s an administrative, tax-related disposition rather than a discretionary sale. For retail investors, outright purchases by insiders tend to be more informative than tax-withhold transactions.
Insider Transaction Report
- Tax Payment
Common Stock
[F1]2026-03-24$6.70/sh−139,481$934,523→ 3,056,739 total
- 226,758
Restricted Stock Units
[F2][F3]→ Common Stock (226,758 underlying) - 359,712
Restricted Stock Units
[F2][F4]→ Common Stock (359,712 underlying)
Footnotes (4)
- [F1]Shares withheld to cover tax withholding obligations on the vesting of restricted stock.
- [F2]Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
- [F3]One-third of the original grant of these RSUs vested on August 6, 2025, and except as otherwise provided in the award notice, one-third will vest on each of the second and third anniversary of the date of grant.
- [F4]Except as otherwise provided in the award notice, one-third of these RSUs vests on the first, second, and third anniversary of the August 5, 2025 grant date.