Michael Biard - May 23, 2024 Form 4 Insider Report for NEXSTAR MEDIA GROUP, INC. (NXST)

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	Award	$0	+10K		$0.00	10K	May 23, 2024	Common Stock	10K		Direct	F1, F2, F3
transaction	NXST	Restricted Stock Units	Award	$0	+10K		$0.00	10K	May 23, 2024	Common Stock	10K		Direct	F1, F3, F4

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

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 the right to receive, following vesting, between 0% and 200% of one share of Nexstar's Common Stock, subject to the level of achievement of pre-established company performance metrics.
F2	10,000 RSUs were awarded on May 23, 2024, of which 2,500 RSUs vest at each anniversary date of the award through May 23, 2028.
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.
F4	10,000 target PSUs were awarded on May 23, 2024, of which 2,500 PSUs vest at each anniversary date of the award through May 23, 2028, subject to the achievement of the pre-established company performance metric. The indicated number of PSUs assumes 100% vesting at target. The number of shares of Nexstar's Common Stock that may be earned is between 0% and 200% of the target number of PSUs. The actual number of shares of common stock issued at each vesting date may be more or less than the indicated target number.