Sandra Breland McNamara - Feb 14, 2024 Form 4 Insider Report for GRAY TELEVISION INC (GTN)

Role: Executive Vice President, COO
Signature: /s/ Ginger Davis by Power of Attorney
Stock symbol: GTN
Transactions as of: Feb 14, 2024
Transactions value $: $1,831,507
Form type: 4
Date filed: 2/16/2024, 07:00 PM
Previous filing: May 24, 2023
Next filing: Mar 1, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GTN	Common Stock	Award	$1.83M	+226K	+169%	$8.10	360K	Feb 14, 2024	Direct	F1
holding	GTN	Common Stock						604	Feb 14, 2024	By 401(k) Plan	F2

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

Explanation of Responses:

Id	Content
F1	Represents grant of restricted stock, one half of which vests in equal annual installments on each of February 28, 2025, February 28, 2026, February 28, 2027, and the other half of which vests, subject to the satisfaction of certain performance criteria, on later of (i) the date the Compensation Committee of the Board of Directors of Gray Television, Inc. certifies the performance criteria have been satisfied and (ii) February 28, 2027.
F2	Holdings under the 401(k) Plan have been updated to reflect the reporting person's current balance in the 401(k) Plan.

Content

Represents grant of restricted stock, one half of which vests in equal annual installments on each of February 28, 2025, February 28, 2026, February 28, 2027, and the other half of which vests, subject to the satisfaction of certain performance criteria, on later of (i) the date the Compensation Committee of the Board of Directors of Gray Television, Inc. certifies the performance criteria have been satisfied and (ii) February 28, 2027.

Holdings under the 401(k) Plan have been updated to reflect the reporting person's current balance in the 401(k) Plan.