Robert Lawrence Smith - Mar 1, 2022 Form 4 Insider Report for GRAY TELEVISION INC (GTN)

Role: SVP & COO
Signature: /s/ Ginger Davis by Power of Attorney
Stock symbol: GTN
Transactions as of: Mar 1, 2022
Transactions value $: -$1,055,226
Form type: 4
Date filed: 3/3/2022, 07:07 PM
Previous filing: Feb 15, 2022
Next filing: Dec 2, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GTN	Common Stock	Sale	-$1.06M	-44.3K	-18.79%	$23.82	191K	Mar 1, 2022	Direct	F1, F2
holding	GTN	Common Stock						69	Mar 1, 2022	By 401(k) Plan
holding	GTN	Common Stock						102K	Mar 1, 2022	By Living Trust

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

Explanation of Responses:

Id	Content
F1	Stock sold pursuant to a 10b5 plan adopted in December 2021 for the purpose of diversifying Mr. Smith's investments. After this sale and as of the date of this filing, Mr. Smith continues to hold beneficial interest in company stock equal to more than three times his salary.
F2	These shares were sold in multiple open market transactions on March 1, 2022 for an average of $23.82 per share. The sale price ranged from $23.74 to $24.00. The reporting person undertakes to provide to Gray Television, Inc., any security holder of Gray Television, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price utilized to arrive at this average.

Content

Stock sold pursuant to a 10b5 plan adopted in December 2021 for the purpose of diversifying Mr. Smith's investments. After this sale and as of the date of this filing, Mr. Smith continues to hold beneficial interest in company stock equal to more than three times his salary.

These shares were sold in multiple open market transactions on March 1, 2022 for an average of $23.82 per share. The sale price ranged from $23.74 to $24.00. The reporting person undertakes to provide to Gray Television, Inc., any security holder of Gray Television, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price utilized to arrive at this average.