Nexstar COO earns 3,108 shares from PSU vesting
Nexstar Media Group President & COO Michael Biard exercised performance-based restricted stock units that vested into common shares.
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Form Type
4
Rhea-AI Filing Summary
Nexstar Media Group President & COO Michael Biard exercised performance-based restricted stock units that vested into common shares. On June 8, 2026, 2,500 target PSUs vested at 124.33% of target and converted into 3,108 shares of common stock. Following this derivative exercise, he directly holds 18,332 common shares and 5,000 restricted stock units. These awards reflect compensation tied to company performance rather than open-market buying or selling.
Insider Trade Summary
2,500 shares exercised/converted
Exercise
2 txns
Insider
Biard Michael
Role
President & COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 2,500 | $0.00 | $0.00 |
| Exercise | Common Stock | 3,108 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 5,000 contracts (Direct);
Common Stock — 18,332 shares (Direct)
Footnotes (2)
- F1. Each performance-based restricted stock unit ("PSU") represents a contingent right to receive, following vesting, between 0% and 200% of one share of Nexstar's Common Stock, subject to the level of achievement of pre-established company performance metric and Reporting Person's continued service through the applicable vesting date.
- F2. 10,000 target PSUs were awarded on May 23, 2024, of which, 2,500 target PSUs vest at each anniversary of the award through May 23, 2028, subject to the achievement of pre-established company performance metric. The number of shares of Nexstar's common stock that may be earned is between 0% and 200% of the target number of PSUs. The Compensation Committee of Nexstar's Board of Directors performed an assessment and determined that the conditions to receive 124.33% of the target number of PSUs were satisfied. Thus, the 2,500 target PSUs were vested and converted into 3,108 shares of Nexstar common stock on June 8, 2026.
Key Figures
Shares from PSU vesting: 3,108 shares
Vested target PSUs: 2,500 PSUs
PSU payout level: 124.33%
+3 more
6 metrics
Shares from PSU vesting
3,108 shares
Common stock received on June 8, 2026
Vested target PSUs
2,500 PSUs
Tranche that vested into shares
PSU payout level
124.33%
Percentage of target PSUs earned
Total target PSUs awarded
10,000 PSUs
Awarded on May 23, 2024
Common shares after transaction
18,332 shares
Direct holdings following exercise
Restricted stock units after
5,000 RSUs
RSU holdings following transaction
Key Terms
performance-based restricted stock unit, PSU, vesting, Compensation Committee, +1 more
5 terms
performance-based restricted stock unit financial
"Each performance-based restricted stock unit ("PSU") represents a contingent right to receive..."
A performance-based restricted stock unit is a promise of company shares given to an employee that only becomes actual stock if specific performance targets are met and any required time at the company is completed. For investors, these awards matter because they can dilute existing shares when earned and signal management’s confidence or the company’s expected future performance, much like a bonus cheque that only clears when pre-set goals are reached.
PSU financial
"10,000 target PSUs were awarded on May 23, 2024, of which, 2,500 target PSUs vest..."
A PSU is a company where the government owns a controlling stake and often plays a direct role in its management and strategy. Think of it like a business that operates with public oversight, similar to a town-run utility versus a private neighborhood service. Investors watch PSUs differently because government involvement can affect profits, dividend policies, regulatory treatment and stability, so these stocks may behave more like policy instruments than pure market-driven enterprises.
vesting financial
"2,500 target PSUs vest at each anniversary of the award through May 23, 2028..."
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
Compensation Committee financial
"The Compensation Committee of Nexstar's Board of Directors performed an assessment..."
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
derivative exercise/conversion financial
"transaction_action": "derivative exercise/conversion""
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Nexstar (NXST) report for Michael Biard?
Nexstar reported that President & COO Michael Biard exercised performance-based restricted stock units that vested into common shares. On June 8, 2026, 2,500 target PSUs converted into 3,108 Nexstar common shares based on achieved performance metrics and continued service.
What performance level triggered Michael Biard’s Nexstar (NXST) PSU conversion?
The Compensation Committee determined that conditions were satisfied for Biard to receive 124.33% of his target PSUs. As a result, 2,500 target performance-based restricted stock units converted into 3,108 Nexstar common shares based on pre-established company performance metrics and his continued service.
How many performance-based restricted stock units were originally awarded to Michael Biard at Nexstar (NXST)?
Michael Biard was awarded 10,000 target performance-based restricted stock units on May 23, 2024. Under the award, 2,500 target PSUs vest on each anniversary through May 23, 2028, subject to achievement of pre-established company performance metrics and service conditions.
What are Michael Biard’s Nexstar (NXST) holdings after this Form 4 transaction?
After the reported transaction, Michael Biard directly holds 18,332 shares of Nexstar common stock. He also holds 5,000 restricted stock units following the conversion of 2,500 target PSUs into 3,108 shares based on achieved performance levels on June 8, 2026.
Is Michael Biard’s Nexstar (NXST) transaction an open-market stock purchase or sale?
The transaction is not an open-market purchase or sale. It reflects the exercise and conversion of performance-based restricted stock units into 3,108 Nexstar common shares, based on company performance metrics and vesting conditions, as part of his compensation package.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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