J. DUNCAN SMITH - 23 Feb 2023 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
Issuer symbol
SBGI
Transactions as of
23 Feb 2023
Net transactions value
+$19,631,557
Form type
4
Filing time
27 Feb 2023, 12:36:55 UTC
Previous filing
08 Feb 2023
Next filing
05 Apr 2024
SEC
View on sec.gov

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 Other $10,666,557 +594,900 +11% $17.93 5,901,586 23 Feb 2023 Class B Common Stock 594,900 $0.000000 Direct F1, F2, F3
transaction SBGI Class B Common Stock Other $8,965,000 +500,000 +8.5% $17.93 6,401,586 23 Feb 2023 Class B Common Stock 500,000 $0.000000 Direct F1, F2, F3
transaction SBGI Class B Common Stock Gift $0 -1,094,900 -17% $0.000000 5,306,686 23 Feb 2023 Class B Common Stock 1,094,900 $0.000000 Direct F2, F3, F4
transaction SBGI Class B Common Stock Gift $0 +1,094,900 $0.000000 1,094,900 23 Feb 2023 Class B Common Stock 1,094,900 $0.000000 By 2023 Irrevocable Trust Series I F2, F3, F4, F5
* 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 withdrew 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) 14,153.274958 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 The Reporting Person has the right to substitute the corpus of the trust.