Saga Communications (SGA) Form 144 Filing Lists Recent Trust Sales

Rhea-AI Filing Summary

Saga Communications, Inc. (SGA) Form 144 notice states that 48 Class A Common shares are proposed for sale through Morgan Stanley Smith Barney LLC with an aggregate market value of $603.27 and an approximate sale date of 09/30/2025. The shares were acquired on 08/19/2022 as a distribution from a trust for the account of Edward K. Christian. The filing lists multiple sales by the Edward K. Christian Agreement of Trust in the prior three months, including transactions on dates from 07/01/2025 through 09/26/2025 with individual gross proceeds shown for each sale.

Positive

• Rule 144 disclosure completed with broker, acquisition details, and recent sales listed
• Seller attests there is no known undisclosed material adverse information

Negative

• Multiple recent dispositions by the Edward K. Christian Agreement of Trust are listed in the prior three months, indicating ongoing selling activity

Insights

Securities Analyst

TL;DR: Small planned sale disclosed; multiple recent trust dispositions recorded over the past three months.

The filing documents a proposed sale of 48 Class A shares valued at $603.27 to be executed via Morgan Stanley Smith Barney. Acquisition source is a trust distribution dated 08/19/2022 for Edward K. Christian. The filing also provides a detailed ledger of prior trust sales between 07/01/2025 and 09/26/2025 with per-transaction gross proceeds, which allows verification of recent disposition activity but shows no additional corporate developments.

Corporate Governance Specialist

TL;DR: Filing meets Rule 144 disclosure requirements and affirms the seller's representation on material nonpublic information.

The notice includes the required seller representation that no undisclosed material adverse information is known. It identifies the broker, the nature and date of acquisition (trust distribution), and recent sales by the same trust over the prior three months. From a governance perspective, the form documents compliance with Rule 144 procedures but does not indicate any change in issuer governance or operations.

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	48	603.27	6439921	09/30/2025	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			48	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	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
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	07/03/2025	5300	70037.91
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	07/01/2025	6269	81791.64

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)

FAQ

What does the Form 144 filed for SGA disclose?

The form discloses a proposed sale of 48 Class A Common shares valued at $603.27, to be sold through Morgan Stanley Smith Barney LLC around 09/30/2025.

Who is the seller named on the SGA Form 144?

The securities are for the account of Edward K. Christian (distribution from a trust) and sales in the past three months are listed as by the Edward K Christian Agreement of Trust.

When were the 48 shares being offered acquired?

The shares were acquired on 08/19/2022 as a distribution from a trust from Edward K. Christian.

What recent sales by the trust are reported in the filing?

The filing lists multiple sales between 07/01/2025 and 09/26/2025, with individual gross proceeds for each transaction (for example, 6,269 shares for $81,791.64 on 07/01/2025 and 316 shares for $3,952.24 on 09/26/2025).

Which broker is handling the proposed sale?

The broker listed is Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza.