Thomas Carter - Dec 20, 2023 Form 4 Insider Report for NEXSTAR MEDIA GROUP, INC. (NXST)

Role: Senior Advisor
Signature: /s/ Mark Hoyla, Attorney-in-Fact for Thomas Carter
Stock symbol: NXST
Transactions as of: Dec 20, 2023
Transactions value $: $471,686
Form type: 4
Date filed: 12/22/2023, 02:26 PM
Previous filing: Dec 20, 2023
Next filing: Dec 26, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NXST	Common Stock	Options Exercise	$778K	+5K	+5.88%	$155.72	90.1K	Dec 20, 2023	Direct
transaction	NXST	Common Stock	Sale	-$307K	-1.95K	-2.17%	$157.23	88.1K	Dec 21, 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NXST	Restricted Stock Units	Options Exercise	$0	-5K	-100%	$0.00^*	0	Dec 20, 2023	Common Stock	5K		Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each time-based restricted stock unit ("RSU") is converted into one share of Nexstar's Common Stock at the vesting date. Each performance-based restricted stock unit ("PSU") represents a contingent right to receive one share of Nexstar's common stock, subject to the achievement of pre-established company performance metrics.
F2	10,000 RSUs and 10,000 PSUs were awarded on April 10, 2020. The Compensation Committee of Nexstar's Board of Directors approved and authorized the accelerated vesting and settlement of 2,499 RSUs and 2,500 PSUs effective December 20, 2023 in connection with Mr. Carter's retirement.
F3	The RSUs/PSUs have no expiration. However, any and all unvested portion of RSUs/PSUs shall be forfeited and cancelled should the awardee's employment terminate for any reason other than a company change of control.