Michael Reed - Dec 31, 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: Dec 31, 2023
Transactions value $: -$126,031
Form type: 4
Date filed: 1/3/2024, 04:23 PM
Previous filing: Nov 6, 2023
Next filing: Mar 26, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GCI	Common Stock	Options Exercise	$0	+152K	+4.6%	$0.00	3.46M	Dec 31, 2023	Direct	F1
transaction	GCI	Common Stock	Tax liability	-$126K	-54.8K	-1.59%	$2.30	3.4M	Dec 31, 2023	Direct	F2

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	GCI	Restricted Stock Units	Options Exercise	$0	+152K		$0.00^*	0	Dec 31, 2023	Common Stock	152K	$0.00	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents a contingent right to receive one share of the underlying common stock.
F2	Shares withheld to cover tax withholding obligations on the vesting of restricted stock units.
F3	Subject to the terms of the applicable award agreement, 152,000 shares of common stock underlying the performance-based restricted stock units vested 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).