David D. Smith - Jan 31, 2022 Form 4 Insider Report for SINCLAIR BROADCAST GROUP INC (SBGI)

Role: Executive Chairman, Director, 10%+ Owner
Signature: Clinton R. Black, V, Esq., on behalf of David D. Smith, by Power of Attorney
Stock symbol: SBGI
Transactions as of: Jan 31, 2022
Transactions value $: -$1,260,977
Form type: 4
Date filed: 2/2/2022, 02:51 PM
Previous filing: Jul 11, 2023
Next filing: Mar 4, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SBGI	Class A Common Stock	Award		+110K	+44.17%		359K	Jan 31, 2022	Direct	F1, F2, F3
transaction	SBGI	Class A Common Stock	Tax liability	-$1.26M	-47.6K	-13.24%	$26.49	312K	Jan 31, 2022	Direct	F3, F4

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	SBGI	Stock Appreciation Rights	Award	$0	+330K		$0.00	330K	Jan 31, 2022	Class A Common Stock	330K		Direct	F5

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

Explanation of Responses:

Id	Content
F1	Common Stock issued as Restricted Stock, which vests 50% on January 31, 2023 and January 31, 2024.
F2	N/A
F3	Common Stock issued as Restricted Stock. Reporting Person also directly owns (i)607,154 shares of Class A Common Stock, (ii) 6,911,072.227 shares of Class B Common Stock and (iii) 13,600.617682 shares of Class A Common Stock held in a 401(k) unitized stock fund. The Reporting Person indirectly owns (i) 28,160 shares of Class A Common Stock held in separate custodial accounts established by the Reporting Person for the benefit of family members of which the Reporting Person is the custodian, (ii) 338,400 shares of Class A Common Stock held by trusts f/b/o family members of which the Reporting Person is a trustee, (iii) 162,553 shares of Class A Common Stock held by a limited liability company controlled by the Reporting Person, and (iv) 803,178 shares of Class A Common Stock held f/b/o David D. Smith Family Foundation, Inc., which the Reporting Person controls, but does not derive any benefit.
F4	Designates withholding of shares to satisfy the Reporting Person's tax liability
F5	The Stock Appreciation Right is exercisable at the price equal in value to the difference between the stock appreciation right's base value of $27.48 per stock appreciation right which is the fair market value of one share as of the grant date, and the per share closing price of Sinclair Broadcast Group, Inc. common stock on the date of exercise.