[144] SAGA COMMUNICATIONS INC SEC Filing

Rhea-AI Filing Summary

Saga Communications, Inc. (SGA) submitted a Form 144 notifying a proposed sale of 10 Class A common shares through Morgan Stanley Smith Barney, with an aggregate market value reported as $130.01 and an approximate sale date of 10/07/2025 on NASDAQ. The shares were acquired on 08/19/2022 as a distribution from a trust in the name of Edward K. Christian.

The filer also reported multiple sales by the same trust over the past three months totaling 18,128 shares, with individual gross proceeds listed for each trade. The notice includes the seller's representation that they are not aware of undisclosed material adverse information and includes the standard Rule 144 attestations about trading plans.

Positive

• Complete acquisition history provided showing acquisition date 08/19/2022
• Broker and exchange identified: Morgan Stanley Smith Barney LLC and NASDAQ
• Seller made required Rule 144 attestations about material information and trading-plan disclosures

Negative

• Frequent recent disposals: 18,128 shares reported sold in the past three months by the trust
• Proposed sale follows large prior sales, which may reflect ongoing liquidation from the trust

Insights

Insider Transactions Specialist

Small proposed sale after frequent recent disposals by the same trust.

The filing shows a proposed sale of 10 Class A shares with a reported market value of $130.01 and documents the acquisition date as 08/19/2022 via a trust distribution from Edward K. Christian. The broker is listed as Morgan Stanley Smith Barney LLC and the intended exchange is NASDAQ.

The trust recorded 18,128 shares sold across multiple dates in the prior three months, generating the listed gross proceeds per trade. Watch near-term filing activity and any additional Form 144 notices for timing or volume changes over the next few weeks as these are directly observable transaction disclosures.

Compliance & Regulatory Analyst

Form 144 presents standard Rule 144 attestations and sale aggregation from a trust.

The notice contains the required Rule 144 statements, including the seller's representation about lack of undisclosed material adverse information and references to trading-plan attestations. Acquisition and payment details are listed for the securities offered for sale.

Key compliance items to monitor are the actual trade execution on the stated date 10/07/2025 and whether subsequent filings reconcile the cumulative sales volumes and proceeds reported for the prior three months.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	10	130.01	6439921	10/07/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A Common	08/19/2022	Distribution from a Trust or an Estate	EDWARD K CHRISTIAN			10	08/19/2022	Not Applicable

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	10/06/2025	629	8202.16
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	10/02/2025	1678	20975.00
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	10/01/2025	546	6883.80
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	09/30/2025	48	603.27
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	09/26/2025	316	3952.24
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	09/19/2025	581	7338.15
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	08/25/2025	1054	14058.46
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	08/22/2025	1727	22954.42
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	08/07/2025	1027	12925.41
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	07/31/2025	400	5222.72
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	07/30/2025	689	9026.86
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	07/25/2025	1799	24106.78
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	07/23/2025	608	7918.71
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	07/15/2025	704	9537.44
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	07/14/2025	3017	40733.42
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	07/11/2025	3300	44967.12
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	07/09/2025	5	67.50

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)