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[Form 4] Saga Communications, Inc. Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

Saga Communications insider reporting shows the Edward K. Christian Trust sold 1,027 Class A common shares on 08/07/2025 at a weighted average price of $12.5856. After the sale the trust beneficially owned 897,159 shares.

The Form 4 is signed by Judith Christian, Trustee, was filed by one reporting person, and indicates the reporting person is a Director. A footnote states the shares were sold in multiple transactions at prices ranging from $12.50 to $12.70, and the reporting person offers to provide the breakdown on request.

I report insider di Saga Communications mostrano che il Edward K. Christian Trust ha venduto 1,027 azioni ordinarie di Classe A il 08/07/2025 a un prezzo medio ponderato di $12.5856. Dopo la vendita il trust deteneva beneficamente 897,159 azioni.

Il Modulo 4 è firmato da Judith Christian, fiduciaria, è stato presentato da una sola persona che effettua la segnalazione e indica che la persona segnalante è un membro del consiglio. Una nota a piè di pagina precisa che le azioni sono state vendute in più transazioni a prezzi compresi tra $12.50 e $12.70, e la persona segnalante si offre di fornire la ripartizione su richiesta.

Los informes de insider de Saga Communications muestran que el Edward K. Christian Trust Ի徱ó 1,027 acciones ordinarias Clase A el 08/07/2025 a un precio medio ponderado de $12.5856. Tras la venta, el fideicomiso poseía beneficiariamente 897,159 acciones.

El Formulario 4 está firmado por Judith Christian, fiduciaria, fue presentado por una sola persona informante y señala que la persona que informa es un director. Una nota aclara que las acciones se vendieron en múltiples transacciones a precios entre $12.50 y $12.70, y la persona informante ofrece facilitar el desglose a petición.

Saga Communications� 내부� 보고� 따르� Edward K. Christian Trust08/07/2025� Class A 보통� 1,027주를 갶중평균갶격 $12.5856� 매각했습니다. 매각 � 신탁은 실질적으� 897,159주를 보유했습니다.

Form 4에는 Judith Christian, 수탁�갶 서명했으�, � 명의 보고자갶� 제출했고 보고자는 이사라고 명시되어 있습니다. 각주에는 주식� 여러 거래� $12.50에서 $12.70 사이� 갶격으� 매각되었으며, 보고자갶� 요청 � 세부 내역� 제공하겠다고 되어 있습니다.

Les rapports d'initiés de Saga Communications indiquent que le Edward K. Christian Trust a vendu 1,027 actions ordinaires de catégorie A le 08/07/2025 au prix moyen pondéré de $12.5856. Après la vente, le trust détenait à titre bénéficiaire 897,159 actions.

Le formulaire 4 est signé par Judith Christian, fiduciaire, a été déposé par une seule personne déclarant et indique que cette personne est un administrateur. Une note de bas de page précise que les actions ont été vendues en plusieurs transactions à des prix compris entre $12.50 et $12.70, et la personne déclarante propose de fournir le détail sur demande.

Insiderberichte von Saga Communications zeigen, dass der Edward K. Christian Trust am 08/07/2025 1,027 Class‑A‑Stammaktien zu einem gewichteten Durchschnittspreis von $12.5856 verkauft hat. Nach dem Verkauf hielt der Trust wirtschaftlich 897,159 Aktien.

Das Formular 4 ist von Judith Christian, Treuhänderin unterschrieben, wurde von einer meldenden Person eingereicht und weist aus, dass die meldende Person ein Direktor ist. Eine Fußnote besagt, dass die Aktien in mehreren Transaktionen zu Preisen zwischen $12.50 und $12.70 verkauft wurden, und die meldende Person bietet an, die Aufschlüsselung auf Anfrage bereitzustellen.

Positive
  • Weighted average price and price range disclosed, improving transparency about execution (weighted avg $12.5856; range $12.50�$12.70).
  • Sale size is small relative to post-sale holdings (1,027 shares vs 897,159 beneficially owned, ~0.11%).
  • Form is signed by the trustee (Judith Christian), indicating authorized reporting.
Negative
  • Disposition reduces beneficial ownership by 1,027 shares.
  • Transaction was a sale (code S), which is a decrease in insider shareholding.

Insights

TL;DR: Trustee sold a small block�1,027 shares—at a weighted average of $12.5856, reducing holdings to 897,159 shares.

The transaction is recorded as a sale (code S) on 08/07/2025. The disposed amount represents approximately 0.11% of the trust's post-sale reported holdings (1,027 of 897,159), indicating a de minimis change in disclosed ownership. The weighted average price and the reported price range provide useful execution detail for investors tracking insider activity. No derivative transactions or other material changes are reported.

TL;DR: Filing is transparent and properly signed; the trustee discloses price range and offers further breakdown on request.

The Form 4 includes a signed certification by the trustee and an explicit footnote stating the shares were sold across multiple trades at prices between $12.50 and $12.70, with a weighted average of $12.5856. That level of disclosure supports transparency and allows compliance review. The reported relationship marks the reporting person as a Director. No indications of material governance events beyond the routine sale are present in the filing.

I report insider di Saga Communications mostrano che il Edward K. Christian Trust ha venduto 1,027 azioni ordinarie di Classe A il 08/07/2025 a un prezzo medio ponderato di $12.5856. Dopo la vendita il trust deteneva beneficamente 897,159 azioni.

Il Modulo 4 è firmato da Judith Christian, fiduciaria, è stato presentato da una sola persona che effettua la segnalazione e indica che la persona segnalante è un membro del consiglio. Una nota a piè di pagina precisa che le azioni sono state vendute in più transazioni a prezzi compresi tra $12.50 e $12.70, e la persona segnalante si offre di fornire la ripartizione su richiesta.

Los informes de insider de Saga Communications muestran que el Edward K. Christian Trust Ի徱ó 1,027 acciones ordinarias Clase A el 08/07/2025 a un precio medio ponderado de $12.5856. Tras la venta, el fideicomiso poseía beneficiariamente 897,159 acciones.

El Formulario 4 está firmado por Judith Christian, fiduciaria, fue presentado por una sola persona informante y señala que la persona que informa es un director. Una nota aclara que las acciones se vendieron en múltiples transacciones a precios entre $12.50 y $12.70, y la persona informante ofrece facilitar el desglose a petición.

Saga Communications� 내부� 보고� 따르� Edward K. Christian Trust08/07/2025� Class A 보통� 1,027주를 갶중평균갶격 $12.5856� 매각했습니다. 매각 � 신탁은 실질적으� 897,159주를 보유했습니다.

Form 4에는 Judith Christian, 수탁�갶 서명했으�, � 명의 보고자갶� 제출했고 보고자는 이사라고 명시되어 있습니다. 각주에는 주식� 여러 거래� $12.50에서 $12.70 사이� 갶격으� 매각되었으며, 보고자갶� 요청 � 세부 내역� 제공하겠다고 되어 있습니다.

Les rapports d'initiés de Saga Communications indiquent que le Edward K. Christian Trust a vendu 1,027 actions ordinaires de catégorie A le 08/07/2025 au prix moyen pondéré de $12.5856. Après la vente, le trust détenait à titre bénéficiaire 897,159 actions.

Le formulaire 4 est signé par Judith Christian, fiduciaire, a été déposé par une seule personne déclarant et indique que cette personne est un administrateur. Une note de bas de page précise que les actions ont été vendues en plusieurs transactions à des prix compris entre $12.50 et $12.70, et la personne déclarante propose de fournir le détail sur demande.

Insiderberichte von Saga Communications zeigen, dass der Edward K. Christian Trust am 08/07/2025 1,027 Class‑A‑Stammaktien zu einem gewichteten Durchschnittspreis von $12.5856 verkauft hat. Nach dem Verkauf hielt der Trust wirtschaftlich 897,159 Aktien.

Das Formular 4 ist von Judith Christian, Treuhänderin unterschrieben, wurde von einer meldenden Person eingereicht und weist aus, dass die meldende Person ein Direktor ist. Eine Fußnote besagt, dass die Aktien in mehreren Transaktionen zu Preisen zwischen $12.50 und $12.70 verkauft wurden, und die meldende Person bietet an, die Aufschlüsselung auf Anfrage bereitzustellen.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Edward K. Christian Trust

(Last) (First) (Middle)
500 WOODWARD AVENUE
SUITE 4000

(Street)
DETROIT MI 48226

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SAGA COMMUNICATIONS INC [ SGA ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 08/07/2025 S 1,027 D $12.5856(1) 897,159 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.50 to $12.70, inclusive. The Reporting Person undertakes to provide Saga Communications, Inc., any security holder of Saga Communications, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4.
/s/ Judith Christian, Trustee 08/07/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction was reported for SGA (Saga Communications)?

The Form 4 reports a sale of 1,027 Class A common shares on 08/07/2025.

At what price were the SGA shares sold?

The shares were sold at a weighted average price of $12.5856, with individual trades ranging from $12.50 to $12.70.

Who reported the transaction for SGA?

The reporting person is the Edward K. Christian Trust, and the Form 4 is signed by Judith Christian, Trustee.

How many SGA shares does the trust own after the sale?

After the reported sale the trust beneficially owned 897,159 shares.

Was the filing submitted by more than one reporting person?

No; the form indicates it was filed by one reporting person.
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