Weisbord Robert 4

What Happened

• Robert Weisbord, Sinclair COO and President of Local Media, exercised options on Feb 27, 2026 to acquire a total of 169,057 shares (93,926 shares at $15.97 and 75,131 shares at $13.31; total exercise cost ≈ $2.50M).
• Concurrently, 153,468 shares were surrendered/disposed to the issuer (92,081 and 61,387 shares) for proceeds of ≈ $2.50M, and 6,134 shares were withheld to satisfy tax liabilities (value ≈ $99,923). The result was a net issuance of 9,455 shares to Weisbord.
• Transaction types: M = option exercise; D = disposition to issuer (sale back to company); F = withholding to cover taxes.

Key Details

• Transaction date: February 27, 2026; Form 4 filed March 19, 2026 (late filing).
• Exercise details and values: 93,926 @ $15.97 = $1,499,998; 75,131 @ $13.31 = $999,994 (total exercise ≈ $2,499,992).
• Dispositions to issuer: 92,081 @ $16.29 = $1,499,999; 61,387 @ $16.29 = $999,994 (total proceeds ≈ $2,499,993).
• Tax withholding (share surrender): 726 @ $16.29 = $11,827; 5,408 @ $16.29 = $88,096 (total ≈ $99,923).
• Net shares retained by insider after the cashless exercise and withholding: 9,455 shares.
• Holdings noted in footnote: 294,525 shares issued as Restricted Stock; plus 7,942.1457 shares in a 401(k) unitized fund and 14,803.1 shares in the Employee Stock Purchase Plan (per footnote F2).
• Footnotes: F1 = exercise of derivative security; F3 = withholding of shares to satisfy tax liability.
• Filing timeliness: The Form 4 was filed ~20 days after the Feb 27 transaction (appears late vs. the usual 2-business-day requirement).

Context

• This was effectively a cashless exercise: options were exercised and most shares were immediately surrendered to the issuer to cover exercise costs, with additional shares withheld for taxes — a common way to exercise without a large net cash outlay.
• Because most shares were used to cover costs and taxes, this is not a straightforward "buy" indicating added bullish conviction; it primarily documents option exercise and tax-related withholding.
• The late filing does not change the substance of the transaction but is a compliance note investors may track.