Nexstar COO sells shares to cover tax obligations

Nexstar Media Group President & COO Michael Biard reported selling 1,227 shares of common stock on June 12, 2026 at an average price of $174.2055 per share.

Rhea-AI Filing Summary

Nexstar Media Group President & COO Michael Biard reported selling 1,227 shares of common stock on June 12, 2026 at an average price of $174.2055 per share. According to the filing, these shares were sold to cover tax withholding obligations from performance-based restricted stock units that vested on June 8, 2026.

After this transaction, Biard directly holds 17,105 shares of Nexstar Media Group common stock. The filing characterizes the transaction as an open-market sale used to satisfy taxes related to equity compensation rather than a discretionary reduction in ownership.

Insider Trade Summary

Net Seller: 1,227 shares

Net Sell 1 txn

Insider Biard Michael

Role President & COO

Sold 1,227 shs ($214K)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,227	$174.2055	$214K

Holdings After Transaction: Common Stock — 17,105 shares (Direct)

Footnotes (1)

1. F1. The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the settlement of performance-based restricted stock units that vested on June 8, 2026.

Key Figures

Shares sold: 1,227 shares Average sale price: $174.2055 per share Shares held after transaction: 17,105 shares +1 more

4 metrics

Shares sold 1,227 shares Open-market sale on June 12, 2026

Average sale price $174.2055 per share Common stock sale to cover tax withholding

Shares held after transaction 17,105 shares Direct ownership following June 12, 2026 sale

Vesting date of performance-based RSUs June 8, 2026 Equity awards triggering tax withholding obligations

Key Terms

performance-based restricted stock units, tax withholding obligations, open-market sale

3 terms

performance-based restricted stock units financial

"in connection with the settlement of performance-based restricted stock units that vested on June 8, 2026"

Performance-based restricted stock units are a type of employee equity award that converts into company shares only if predefined financial or operational targets are met over a set period. Think of it like a bonus check that becomes stock only when specific goals are hit; it ties pay to results, aligning managers’ incentives with shareholders. Investors care because these awards affect future share count, executive incentives, and signal how management’s success will be measured and rewarded.

tax withholding obligations financial

"represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the settlement"

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Nexstar Media Group (NXST) executive Michael Biard report in this Form 4?

Michael Biard reported selling 1,227 Nexstar Media Group shares at $174.2055 per share. The filing states the sale was made to cover tax withholding obligations from recently vested performance-based restricted stock units.

How many Nexstar (NXST) shares did Michael Biard sell and at what price?

Michael Biard sold 1,227 shares of Nexstar common stock at an average price of $174.2055. This transaction was disclosed as an open-market sale used to satisfy tax withholding obligations tied to vested performance-based restricted stock units.

Why did Nexstar executive Michael Biard sell shares according to the Form 4?

The Form 4 explains that Michael Biard’s share sale was to cover tax withholding obligations. These obligations arose from the settlement of performance-based restricted stock units that vested on June 8, 2026, rather than from a purely discretionary decision to sell shares.

How many Nexstar (NXST) shares does Michael Biard hold after this transaction?

Following the reported sale, Michael Biard directly holds 17,105 shares of Nexstar Media Group common stock. This post-transaction balance is explicitly disclosed in the Form 4 and reflects his remaining direct ownership after covering tax-related obligations.

What type of equity award is mentioned in Michael Biard’s Nexstar Form 4?

The Form 4 references performance-based restricted stock units that vested on June 8, 2026. Shares sold in the reported transaction were used to satisfy tax withholding obligations connected to the settlement of these performance-based restricted stock units.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/15/2026 - 10:28 AM EDT Learn about SEC filing dates

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^*

Biard Michael

(Last) (First) (Middle)

C/O NEXSTAR MEDIA GROUP, INC.

545 E. JOHN CARPENTER FREEWAY, SUITE 700

(Street)

IRVING TEXAS 75062

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NEXSTAR MEDIA GROUP, INC. [ NXST ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/12/2026

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	06/12/2026		S(1)		1,227	D	$174.2055	17,105	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 sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the settlement of performance-based restricted stock units that vested on June 8, 2026.

	/s/ Mark Hoyla, Attorney-in-Fact for Michael Biard	06/15/2026
	** 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)