Jenkins Brett 4
4 · NEXSTAR MEDIA GROUP, INC. · Filed Mar 26, 2026
Research Summary
AI-generated summary of this filing
Nexstar (NXST) EVP Brett Jenkins Sells Shares to Cover Taxes
What Happened
Brett Jenkins, EVP & Chief Technology & Digital Officer of Nexstar Media Group (NXST), had restricted stock units (RSUs) and performance stock units (PSUs) convert to common shares upon vesting on March 24, 2026, and then sold 414 shares in the open market on March 25, 2026 for $218.53 per share ($90,472 total). The PSU payout rate was 104.54%, so 563 target PSUs that vested converted into 588 shares; 750 time‑based RSUs also vested and converted into shares. Several shares were surrendered/withheld in connection with tax withholding tied to the vesting.
Key Details
- Transaction dates/prices:
- 2026-03-24: RSUs and PSUs vested and converted into shares (reported acquisitions at $0 — typical for RSU/PSU settlement).
- 2026-03-25: Open-market sale of 414 shares at $218.53 each, totaling $90,472.
- PSU performance: 563 target PSUs vested and converted into 588 shares (104.54% payout).
- Tax withholding: The filing notes shares were sold/surrendered to cover tax withholding obligations related to the March 24, 2026 settlements.
- Shares owned after transaction: Not specified in the provided excerpt of the Form 4.
- Filing timeliness: Report filed 2026-03-26 for transactions on/through 2026-03-24–25 (filed within the normal Form 4 reporting window).
Context
- These transactions reflect vesting and settlement of equity awards (RSUs and PSUs) rather than a cash purchase; acquisitions were reported at $0 because the shares were delivered on vesting.
- The open‑market sale appears to be for tax withholding/settlement — a routine administrative sale rather than an explicit market-timing or investment signal.
- For retail investors: purchases by insiders can be more informative than routine sell-to-cover tax transactions; here the activity primarily documents award settlement and tax-related disposal.
Insider Transaction Report
Form 4
Jenkins Brett
See Remarks
Transactions
- Exercise/Conversion
Common Stock
[F1][F2]2026-03-24+750→ 26,366 total - Exercise/Conversion
Common Stock
[F3][F4]2026-03-24+588→ 26,954 total - Sale
Common Stock
[F5]2026-03-25$218.53/sh−414$90,472→ 26,540 total - Exercise/Conversion
Restricted Stock Units
[F1][F2]2026-03-24−750→ 1,500 total→ Common Stock (750 underlying) - Exercise/Conversion
Restricted Stock Units
[F3][F4]2026-03-24−563→ 1,687 total→ Common Stock (588 underlying)
Footnotes (5)
- [F1]Each time-based restricted stock unit ("RSU") is converted into one share of Nexstar's Common Stock subject to the Reporting Person's continued service through the applicable vesting date.
- [F2]2,250 RSUs were awarded on March 24, 2025, of which 750 RSUs vest at each anniversary date of the award through March 24, 2028.
- [F3]Each Performance-based restricted stock unit ("PSU") represents the right to receive, following vesting, between 0% and 150% of one share of Nexstar's Common Stock, subject to the level of achievement of pre-established company performance metrics and Reporting Person's continued service through the applicable vesting date.
- [F4]2,250 target PSUs were awarded on March 24, 2025, of which 563, 562 and 1,125 PSUs vest on March 24, 2026, 2027 and 2028, respectively, subject to the achievement of the pre-established company performance metrics. The number of shares of Nexstar's common stock that may be earned is between 0% and 150% of the target number of PSUs. The Compensation Committee of Nexstar's Board of Directors performed an assessment and determined that the conditions to receive 104.54% of the target number of PSUs were satisfied. Thus, the 563 target PSUs that vested on March 24, 2026 were converted into 588 shares of Nexstar common stock.
- [F5]The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the settlement of RSUs and PSUs that vested on March 24, 2026.
Signature
/s/ Mark Hoyla, Attorney-in-Fact for Brett Jenkins|2026-03-26