[Form 4] DallasNews Corp Insider Trading Activity

Rhea-AI Filing Summary

DallasNews Corp director Robert W. Decherd reported multiple open-market sales of the company's common stock on 09/24/2025. He sold 78,165 shares of Series A common stock and a total of 590,605 shares of Series B common stock (comprised of 514,376 direct sales, 75,072 sales by shares he previously held indirectly, and 1,157 shares disposed by his spouse) at a reported price of $16.50 per share. After these transactions the filing reports 0 shares beneficially owned following the reported sales for each line. The reporting person is identified as a director and disclaims beneficial ownership of securities owned by his spouse.

Positive

• None.

Negative

• Large insider sale: Director Robert W. Decherd disposed of a total of 668,770 shares on 09/24/2025 at $16.50 per share.
• No remaining beneficial ownership reported: Each reported line shows 0 shares beneficially owned following the transactions.
• Partial indirect ownership: Some Series B shares were sold indirectly (by The Decherd Foundation and spouse), and the reporting person disclaims beneficial ownership of spouse-owned securities.

Insights

Financial Analyst

Director executed large, same-day dispositions totaling 668,770 shares at $16.50; market impact depends on float and trading context.

The filing documents contemporaneous sales across Series A and Series B common stock on 09/24/2025 totaling 668,770 shares at $16.50 per share. For analysts this is a clear disclosure of insider liquidity rather than an acquisition. Without additional context on outstanding share counts, trading volume, or reasons for the sale, the transaction is a straightforward insider disposition recorded under Section 16.

Corporate Governance Expert

Insider sales by a director are material disclosures but not inherently indicative of governance issues absent more facts.

The report shows Robert W. Decherd as a director making multiple sales and disclaiming spouse ownership for certain shares. The form is properly executed and signed on 09/25/2025. From a governance perspective, the filing meets reporting requirements; any governance implications would require additional information about motivations, pre-arranged trading plans, or related-party arrangements which are not provided.

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
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hours per response:			0.5

X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

DECHERD ROBERT W

(Last) (First) (Middle)

P.O. BOX 224866

(Street)

DALLAS TX 75222-4866

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DallasNews Corp [ DALN ]

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)
09/24/2025

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
Series B Common Stock	09/24/2025		S		514,376	D	$16.5	0	D
Series A Common Stock	09/24/2025		S		78,165	D	$16.5	0	D
Series B Common Stock	09/24/2025		S		75,072	D	$16.5	0	I	By The Decherd Foundation
Series B Common Stock	09/24/2025		S		1,157	D	$16.5	0	I	By Spouse

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:

Remarks:

The Reporting Person disclaims beneficial ownership of securities owned by his spouse.

	/s/ Robert W. Decherd	09/25/2025
	** 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 transactions did DallasNews Corp (DALN) director Robert W. Decherd report on Form 4?

He reported sales on 09/24/2025 of 78,165 Series A shares and 590,605 Series B shares (total 668,770 shares) at $16.50 per share.

What was the reported price per share for the DALN insider sales?

The Form 4 lists a sale price of $16.50 per share for all reported transactions.

What is Robert W. Decherd's relationship to DALN reported on the form?

The form identifies Robert W. Decherd as a director of DallasNews Corp.

Did the filing indicate any shares remained beneficially owned by the reporting person after the sales?

No; the filing shows 0 shares beneficially owned following the reported transactions for each line.

Are any ownership interests disclaimed in the filing?

Yes; the reporting person disclaims beneficial ownership of securities owned by his spouse per the form's remarks.