[144] SAGA COMMUNICATIONS INC SEC Filing

Rhea-AI Filing Summary

Saga Communications, Inc. (SGA) Form 144 notice reports a proposed sale of 316 Class A common shares through Morgan Stanley Smith Barney with an aggregate market value of $3,952.24, and states the shares were acquired on 08/19/2022 as a distribution from a trust for Edward K. Christian. The filing lists prior sales by the same trust during the past three months totaling 28,470 Class A shares for gross proceeds of $376,721.04. The issuer's reported number of Class A shares outstanding is 6,439,921, making the recent three-month sales roughly 0.44% of outstanding shares. The filer certifies no undisclosed material adverse information.

Insights

Securities Analyst

TL;DR: Reported insider/trust sales are routine but notable in size relative to float; the filing is a standard Rule 144 disclosure.

The Form 144 shows a proposed sale of 316 shares and documents prior trust sales totaling 28,470 shares over the past three months, yielding approximately $376,721 in gross proceeds. Compared with the stated 6,439,921 Class A shares outstanding, the recent disposals represent about 0.44% of outstanding shares, which is small in absolute terms but worth tracking for potential supply impact around trade dates. The filing is compliant with Rule 144 disclosure requirements and includes acquisition details tying the securities to a trust distribution on 08/19/2022.

Corporate Governance Expert

TL;DR: Disclosure is complete for a Rule 144 sale; multiple recent trust sales suggest ongoing disposition of holdings by a related trust.

The document identifies the selling party as an Agreement of Trust for Edward K. Christian and records a sequence of sales across July–September 2025. From a governance perspective, the filing appropriately affirms the seller's representation that no material nonpublic information exists. The pattern of sales is consistent with trust liquidation or periodic disposals rather than an abrupt executive departure or event-driven insider sale. All required acquisition and payment details are provided for the proposed lots.

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	316	3952.24	6439921	09/26/2025	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			316	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	09/19/2025	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
EDWARD K CHRISTIAN AGREEMENT OF TRUST 73 Kercheval Avenue Grosse Pointe Farms MI 48236	Class A Common	06/27/2025	1990	25656.67

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)