Michael Reed - Nov 6, 2023 Form 4 Insider Report for Gannett Co., Inc. (GCI)

Role
Chief Executive Officer, Director
Signature
/s/ Polly Grunfeld Sack, Attorney-in-Fact for Michael Reed
Stock symbol
GCI
Transactions as of
Nov 6, 2023
Transactions value $
$120,600
Form type
4
Date filed
11/6/2023, 04:38 PM
Previous filing
Aug 14, 2023
Next filing
Jan 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GCI Common Stock Purchase $121K +60K +1.85% $2.01 3.3M Nov 6, 2023 Direct F1

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
holding GCI Restricted Stock Units 1M Nov 6, 2023 Common Stock 1M $0.00 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.00 to $2.01. Mr. Reed undertakes to provide Gannett Co., Inc., any security holder of Gannett Co., Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F2 Each restricted stock unit represents a contingent right to receive one share of the underlying common stock.
F3 Subject to the terms of the applicable award agreement, 1,000,000 shares of common stock underlying the performance-based restricted stock units vested on December 31, 2022, and the remainder up to an aggregate of 2,000,000 shares will vest on December 31, 2023, upon the achievement of specified stock price goals (ranging from $4.00 per share to $10.00 per share, based on a 20 consecutive trading day average).