Robert Lawrence Smith - 01 Mar 2022 Form 4 Insider Report for GRAY TELEVISION INC (GTN)

Role: SVP & COO
Signature: /s/ Ginger Davis by Power of Attorney
Issuer symbol: GTN
Transactions as of: 01 Mar 2022
Net transactions value: -$1,055,226
Form type: 4
Filing time: 03 Mar 2022, 19:07:05 UTC
Previous filing: 15 Feb 2022
Next filing: 02 Dec 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GTN	Common Stock	Sale	$1,055,226	-44,300	-19%	$23.82	191,466	01 Mar 2022	Direct	F1, F2
holding	GTN	Common Stock						69	01 Mar 2022	By 401(k) Plan
holding	GTN	Common Stock						102,342	01 Mar 2022	By Living Trust

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

Explanation of Responses:

Id	Content
F1	Stock sold pursuant to a 10b5 plan adopted in December 2021 for the purpose of diversifying Mr. Smith's investments. After this sale and as of the date of this filing, Mr. Smith continues to hold beneficial interest in company stock equal to more than three times his salary.
F2	These shares were sold in multiple open market transactions on March 1, 2022 for an average of $23.82 per share. The sale price ranged from $23.74 to $24.00. The reporting person undertakes to provide to Gray Television, Inc., any security holder of Gray Television, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price utilized to arrive at this average.

Content

Stock sold pursuant to a 10b5 plan adopted in December 2021 for the purpose of diversifying Mr. Smith's investments. After this sale and as of the date of this filing, Mr. Smith continues to hold beneficial interest in company stock equal to more than three times his salary.

These shares were sold in multiple open market transactions on March 1, 2022 for an average of $23.82 per share. The sale price ranged from $23.74 to $24.00. The reporting person undertakes to provide to Gray Television, Inc., any security holder of Gray Television, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price utilized to arrive at this average.