Michael Reed - 08 Aug 2022 Form 4 Insider Report for Gannett Co., Inc. (GCI)

Role
Chief Executive Officer, Director
Signature
/s/ Polly Grunfeld Sack, Attorney-in-Fact for Michael Reed
Issuer symbol
GCI
Transactions as of
08 Aug 2022
Net transactions value
+$1,220,000
Form type
4
Filing time
08 Aug 2022, 16:21:31 UTC
Previous filing
24 Mar 2022
Next filing
04 Jan 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GCI Common Stock Purchase $1,220,000 +500,000 +37% $2.44 1,836,335 08 Aug 2022 Direct F1

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
holding GCI Restricted Stock Units 2,000,000 08 Aug 2022 Common Stock 2,000,000 $0.000000 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.33 to $2.50, inclusive. Mr. Reed undertakes to provide Gannett Co., Inc., any security holder of Gannett Co., Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F2 Each restricted stock unit represents a contingent right to receive one share of the underlying common stock.
F3 Subject to the terms of the applicable award agreement, up to 1,000,000 shares of common stock underlying the performance-based restricted stock units will vest on December 31, 2022, and the remainder up to an aggregate of 2,000,000 shares will vest on December 31, 2023, upon the achievement of specified stock price goals (ranging from $4.00 per share to $10.00 per share, based on a 20 consecutive trading day average).