Director Garcia receives 30,741 Gray Media (GTN) restricted shares

Rhea-AI Filing Summary

Garcia Luis A. reported acquisition or exercise transactions in this Form 4 filing.

GRAY MEDIA, INC director Luis A. Garcia reported an equity compensation grant of 30,741 shares of Common Stock on April 30, 2027. The footnote explains this is restricted stock that vests in full on that date, rather than an open-market purchase.

After this grant, Garcia directly holds 130,647 shares of Common Stock and a separate line shows 6,917 shares of Class A Common Stock as a reported holding.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Garcia Luis A.

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	30,741	$0.00	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Common Stock — 130,647 shares (Direct, null); Class A Common Stock — 6,917 shares (Direct, null)

Footnotes (1)

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Key Figures

Restricted stock grant: 30,741 shares Common Stock holdings after grant: 130,647 shares Class A Common Stock holding: 6,917 shares +2 more

5 metrics

Restricted stock grant 30,741 shares Grant of Common Stock reported on Form 4

Common Stock holdings after grant 130,647 shares Total direct Common Stock owned after transaction

Class A Common Stock holding 6,917 shares Direct Class A Common Stock holding as a reported entry

Vesting date April 30, 2027 Restricted stock vests in full on this date

Grant price per share $0.00 per share Reported price for the restricted stock grant

Key Terms

restricted stock, Class A Common Stock, Form 4, Grant, award, or other acquisition

4 terms

restricted stock financial

"Represents grant of restricted stock, which vests in full on April 30, 2027."

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

Class A Common Stock financial

"security_title: Class A Common Stock with 6,917 shares reported as holding."

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

Form 4 regulatory

"INSIDER FILING DATA (Form 4) shows the grant and holdings."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition for the 30,741 shares."

Form 4 Insider Transactions: What Each Field Means →

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^*

Garcia Luis A.

(Last) (First) (Middle)

4370 PEACHTREE ROAD NE

SUITE 400

(Street)

ATLANTA GEORGIA 30319

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
GRAY MEDIA, INC [ GTN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/06/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
Common Stock	05/06/2026		A		30,741(1)	A	$0	130,647	D
Class A Common Stock								6,917	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. Represents grant of restricted stock, which vests in full on April 30, 2027.

	/s/ Ginger Davis by Power of Attorney	05/08/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Luis A. Garcia report for GRAY MEDIA (GTN)?

Luis A. Garcia reported receiving a grant of 30,741 shares of Gray Media Common Stock as restricted stock. The award is compensation, not an open-market purchase, and was reported on a Form 4 insider filing.

How many Gray Media shares did Luis A. Garcia receive in this Form 4 filing?

He received 30,741 shares of Gray Media Common Stock as a restricted stock grant. The filing shows these were awarded at a price of $0.00 per share as part of his director compensation package.

When do Luis A. Garcia’s Gray Media restricted shares vest?

The 30,741 restricted shares granted to Luis A. Garcia vest in full on April 30, 2027. Until that vesting date, the shares are subject to restrictions described as a restricted stock grant in the filing footnote.

How many Gray Media common shares does Luis A. Garcia own after this grant?

Following the restricted stock grant, Garcia directly holds 130,647 shares of Gray Media Common Stock. The Form 4 also shows a separate holding entry of 6,917 shares of Class A Common Stock reported as a direct position.

Was this Gray Media Form 4 transaction a market buy or a compensation award?

This transaction is a compensation award, not a market buy. The filing labels the code as an acquisition grant at $0.00 per share and a footnote specifies it represents a grant of restricted stock that will vest on April 30, 2027.