ALFORD ANDREW 4
4 · NEXSTAR MEDIA GROUP, INC. · Filed Mar 26, 2026
Research Summary
AI-generated summary of this filing
Nexstar (NXST) President Andrew Alford Sells 623 Shares
What Happened
Andrew Alford, President, Broadcasting of Nexstar Media Group (NXST), had 1,784 shares of common stock convert from vested restricted stock units (RSUs) and performance stock units (PSUs) on March 24, 2026 (1,000 RSU shares + 784 PSU shares). He sold 623 of those shares in an open-market transaction on March 25, 2026 at $218.53 per share, receiving $136,145. The conversion entries show $0 exercise price because RSUs/PSUs convert into shares upon vesting rather than being purchased.
Key Details
- Transaction dates/prices: RSU/PSU vesting and conversion on 2026-03-24 (1,000 RSU shares + 784 PSU shares). Open-market sale of 623 shares on 2026-03-25 at $218.53 each (total $136,145).
- Shares acquired via conversion: 1,784 shares (no cash paid — these were vested RSUs/PSUs).
- Shares sold: 623 shares for $136,145 to cover tax withholding obligations.
- Notable footnotes: 3,000 RSUs awarded 3/24/2025 vest 1,000/year; 3,000 target PSUs awarded 3/24/2025 paid at 104.54% of target, so 750 target PSUs converted into 784 shares. Sale was to satisfy tax withholding on the vested awards (footnote F5).
- Shares owned after transaction: Not specified in the materials provided.
- Filing date: Form 4 filed 2026-03-26 for transactions on 2026-03-24/03-25. No indication in the provided details that the filing was late.
Context
The primary activity here is settlement of equity compensation (RSUs and PSUs) upon vesting; these converted shares are reported as acquired at $0 because they are awarded rather than bought. The subsequent open-market sale of a portion of the vested shares to cover taxes is routine and commonly seen after vesting events. The PSU payout exceeded target (104.54%), which increased the number of shares delivered from the PSU award.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-03-24+1,000→ 11,528 total - Exercise/Conversion
Common Stock
[F3][F4]2026-03-24+784→ 12,312 total - Sale
Common Stock
[F5]2026-03-25$218.53/sh−623$136,145→ 11,689 total - Exercise/Conversion
Restricted Stock Units
[F1][F2]2026-03-24−1,000→ 2,000 total→ Common Stock (1,000 underlying) - Exercise/Conversion
Restricted Stock Units
[F3][F4]2026-03-24−750→ 2,250 total→ Common Stock (784 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]3,000 RSUs were awarded on March 24, 2025, of which 1,000 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]3,000 target PSUs were awarded on March 24, 2025, of which 750, 750 and 1,500 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 750 target PSUs that vested on March 24, 2026 were converted into 784 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.