Sinclair director Robert E. Smith sells 500K shares
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Sinclair, Inc. (SBGI) director and ten percent owner Robert E. Smith converted 250,000 Class B shares into 250,000 Class A shares on each of November 9 and November 10, 2026, one-for-one and with no additional consideration. He sold 250,000 Class A shares on November 9 in five 50,000-share transactions at $13.8918, $13.8943, $14.0370, $14.0396 and $14.0541 per share, then sold 250,000 on November 10 at a weighted average $14.2059 per share; the reported prices for that sale ranged from $14.00 to $14.50. No Rule 10b5-1 plan is reported.
After all reported transactions, Smith directly owned 0 Class A shares, excluding the other holdings described: 1,069.263333 Class A shares in a 401(k) unitized stock fund as of November 11, 2026; 121,750 Class B shares held indirectly in an irrevocable trust for family members; and 4,000 Class A shares in accounts held by or with immediate family members.
Insider Trade Summary
Exercise and Sale: 500,000 shares ($7.05M approx. pre-tax spread)
Exercise and Sale
10 txns
Insider
SMITH ROBERT E
Role
Director, 10% Owner
Sold
500,000 shs ($7.05M)
Approx. gross sale proceeds
$7.05M
Approx. exercise cost
$0.00
Approx. pre-tax spread
$7.05M
Share of Position Sold
100%
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock F1, F2, F3 | 250,000 | $0.00 | $0.00 |
| Conversion | Class A Common Stock F1, F3, F5 | 250,000 | $0.00 | $0.00 |
| Sale | Class A Common Stock F6, F3, F5 | 250,000 | $14.2059 | $3.55M |
| Conversion | Class B Common Stock F1, F2, F3 | 250,000 | $0.00 | $0.00 |
| Conversion | Class A Common Stock F1, F3, F4, F5 | 250,000 | $0.00 | $0.00 |
| Sale | Class A Common Stock F3, F5 | 50,000 | $13.8918 | $695K |
| Sale | Class A Common Stock F3, F5 | 50,000 | $13.8943 | $695K |
| Sale | Class A Common Stock F3, F5 | 50,000 | $14.037 | $702K |
| Sale | Class A Common Stock F3, F5 | 50,000 | $14.0396 | $702K |
| Sale | Class A Common Stock F3, F5 | 50,000 | $14.0541 | $703K |
Holdings After Transaction:
Class B Common Stock — 5,473,162 shares (Direct);
Class A Common Stock — 0 shares (Direct)
Holdings Before and After:
Class B Common Stock, 5,973,162 to 5,473,162 shares (Direct);
Class A Common Stock, 0 to 0 shares (Direct)
Footnotes (6)
- F1. Represents the voluntary conversion of 250,000 shares of Class B Common Stock into 250,000 shares of Class A Common Stock on a one-for-one basis pursuant to the Issuer's governing documents. No additional consideration was paid in connection with the conversion.
- F2. The Class B Common Stock is convertible at the Reporting Person's election and has no expiration date.
- F3. The Reporting Person also owns 1,069.263333 (as of 11/11/2026) shares of Class A Common Stock held in a 401(k) unitized stock fund. The Reporting Person also indirectly owns (i) 121,750 shares of Class B Common Stock held in an irrevocable trust f/b/o family members; and (ii) 4,000 shares of Class A Common Stock in accounts held by or with members of the Reporting Person's immediate family.
- F4. Prior to giving effect to all of the transactions reported on this Form 4, the Reporting Person directly owned 0 shares of Class A Common Stock.
- F5. After giving effect to all of the transactions reported on this Form 4, the Reporting Person directly owns 0 shares of Class A Common Stock (excluding the shares described in footnote (3)).
- F6. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $14.00 to $14.50, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, 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 range set forth in this footnote (6).
Key Figures
Class B shares converted: 250,000 shares on each date
Class A shares sold: 500,000 shares
November 9 sale prices: $13.8918, $13.8943, $14.0370, $14.0396 and $14.0541 per share
+5 more
8 metrics
Class B shares converted
250,000 shares on each date
Converted into Class A shares on November 9 and November 10, 2026, one-for-one.
Class A shares sold
500,000 shares
250,000 shares sold on each of November 9 and November 10, 2026.
November 9 sale prices
$13.8918, $13.8943, $14.0370, $14.0396 and $14.0541 per share
Five transactions of 50,000 shares each on November 9, 2026.
November 10 weighted average sale price
$14.2059 per share
250,000 Class A shares; reported prices ranged from $14.00 to $14.50.
Direct Class A shares after transactions
0 shares
Excludes the other holdings described in the footnote.
Class A shares in 401(k) unitized stock fund
1,069.263333 shares
As of November 11, 2026.
Indirect Class B shares in family trust
121,750 shares
Held in an irrevocable trust for family members.
Class A shares in family accounts
4,000 shares
In accounts held by or with members of the reporting person's immediate family.
Key Terms
voluntary conversion, one-for-one basis, weighted average price, unitized stock fund, +1 more
5 terms
voluntary conversion financial
"voluntary conversion of 250,000 shares of Class B Common Stock"
one-for-one basis technical
"into 250,000 shares of Class A Common Stock on a one-for-one basis"
weighted average price financial
"The price reported is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
unitized stock fund financial
"shares of Class A Common Stock held in a 401(k) unitized stock fund"
irrevocable trust financial
"121,750 shares of Class B Common Stock held in an irrevocable trust"
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
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