Blake Russell - Mar 20, 2023 Form 4 Insider Report for NEXSTAR MEDIA GROUP, INC. (NXST)

Role: EVP, Station Operations
Signature: /s/ Mark Hoyla, Attorney-in-Fact for Blake Russell
Stock symbol: NXST
Transactions as of: Mar 20, 2023
Transactions value $: $227,989
Form type: 4
Date filed: 3/22/2023, 06:35 PM
Previous filing: Dec 23, 2022
Next filing: Apr 12, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NXST	Common Stock	Options Exercise	$301K	+1.88K	+6.39%	$160.79	31.2K	Mar 20, 2023	Direct
transaction	NXST	Common Stock	Sale	-$73.5K	-448	-1.43%	$164.04	30.8K	Mar 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	-1.88K	-10.79%	$0.00	15.5K	Mar 20, 2023	Common Stock	1.88K		Direct	F1, F2, F3

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

Explanation of Responses:

Id	Content
F1	As restricted stock units ("RSUs") vest, they are converted into shares of Common Stock on a one-for-one basis at the vesting date.
F2	7,500 RSUs were awarded on March 20, 2019, of which 1,875 RSUs vest at each anniversary of the award through March 20, 2023.
F3	The RSUs have no expiration. However, any and all unvested portion of RSUs shall be forfeited and cancelled should the awardee's employment terminate for any reason other than a company change of control.