J. Duncan Smith - Mar 10, 2022 Form 4 Insider Report for SINCLAIR BROADCAST GROUP INC (SBGI)

Role
Secretary, Director, 10%+ Owner
Signature
Clinton R. Black, V, Esq., on behalf of J. Duncan Smith, by Power of Attorney
Stock symbol
SBGI
Transactions as of
Mar 10, 2022
Transactions value $
$15,491,196
Form type
4
Date filed
3/14/2022, 11:14 AM
Previous filing
Feb 10, 2022
Next filing
Feb 8, 2023

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 Class B Common Stock Purchase $15.5M +595K +10.25% $26.04 6.4M Mar 10, 2022 Class B Common Stock 595K $0.00 Direct F1, F2, F3
transaction SBGI Class B Common Stock Gift $0 -595K -9.29% $0.00 5.81M Mar 11, 2022 Class B Common Stock 595K $0.00 Direct F2, F3, F4
transaction SBGI Class B Common Stock Award $0 +595K $0.00 595K Mar 11, 2022 Class B Common Stock 595K $0.00 By Irrevocable Trust F2, F3, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reporting Person exercised his right to substitute the corpus of the trust and purchased the shares from the trust f/b/o Reporting Person's children.
F2 The Class B Common Stock is convertible at the Reporting Person's election and has no expiration date.
F3 The Reporting Person also owns (i) 185 shares of Class A Common Stock and (ii) 13,127.545900 shares of Class A Common Stock held in a 401(k) unitized stock fund. The Reporting Person indirectly owns 137,154 shares of Class B Common Stock divided equally among three irrevocable trusts each for the benefit of a child of the Reporting Person of which the Reporting Person is a co-trustee.
F4 Gifted to Trust f/b/o Reporting Person's family members.
F5 Acquired by gift from Reporting Person.
F6 The Reporting Person has the right to substitute the corpus of the trust.