Saga Communications (SGA) Notice: 1,678 Class A Shares for Sale via Morgan Stanley

Rhea-AI Filing Summary

Saga Communications, Inc. (SGA) submitted a Form 144 reporting a proposed sale of 1,678 Class A common shares through Morgan Stanley Smith Barney LLC with an aggregate market value of $20,975.00. The shares were acquired on 08/19/2022 as a distribution from a trust or estate attributed to EDWARD K CHRISTIAN. The filing lists 6,439,921 Class A shares outstanding and an approximate sale date of 10/02/2025.

The filing also discloses prior trust sales of the issuer's Class A common stock during the past three months totaling 21,121 shares for aggregate gross proceeds of approximately $280,334.21, showing an ongoing program of trust disposals. The filer attests there is no undisclosed material adverse information and signs the statutory representation required by the form.

Positive

• Planned sale routed through a registered broker (Morgan Stanley Smith Barney LLC), indicating orderly execution
• Sales and acquisitions are fully disclosed with acquisition date (08/19/2022) and prior three-month sale history (21,121 shares)

Negative

• Trust-originated disposals totaled 21,121 shares in the past three months for roughly $280,334.21, indicating continued share supply into the market

Insights

Securities Compliance Expert

Form 144 documents an upcoming Rule 144 sale from a trust, preserving safe-harbor disclosure.

The filing shows a planned sale of 1,678 Class A shares via Morgan Stanley Smith Barney LLC with the acquisition traced to a trust distribution on 08/19/2022. This is a standard Rule 144 notice where the seller represents no undisclosed material information.

The notice also lists 21,121 shares sold in the prior three months; such historic dispositions are required to be reported and help satisfy the form's aggregation and transparency requirements.

Equity Trading/Market Impact Analyst

Recent activity shows measurable supply from the trust: 21,121 shares sold for about $280,334.

The filing identifies an upcoming sale of 1,678 shares (aggregate value $20,975) and lists multiple executed sales totaling 21,121 shares over three months for approximately $280,334.21. For a company with 6,439,921 shares outstanding, these transactions represent small, but visible, trust-originated supply into market trading.

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Accepted by SEC EDGAR 10/02/2025 - 04:11 PM Learn about SEC filing dates

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	1678	20975.00	6439921	10/02/2025	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			1678	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	10/01/2025	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
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	07/03/2025	5300	70037.91

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 SGA Form 144 report?

The filing reports a proposed sale of 1,678 Class A common shares through Morgan Stanley Smith Barney LLC with aggregate market value of $20,975.00 and an approximate sale date of 10/02/2025.

Who acquired the shares being sold?

The 1,678 shares were acquired on 08/19/2022 as a distribution from a trust or an estate attributed to EDWARD K CHRISTIAN.

How many SGA shares were sold by the trust in the past three months?

The filing lists 16 separate sales totaling 21,121 shares executed over the past three months for combined gross proceeds of approximately $280,334.21.

How many Class A shares of SGA are outstanding?

The filing states there are 6,439,921 Class A shares outstanding.

Does the filer assert any undisclosed material information?

By signing the form, the person for whose account the securities are to be sold represents they do not know any material adverse information not publicly disclosed.