[Form 4] SAGA COMMUNICATIONS INC Insider Trading Activity

Rhea-AI Filing Summary

The Edward K. Christian Trust reported a sale of Saga Communications, Inc. (SGA) Class A common stock on 09/30/2025. The filing shows a total of 48 shares sold at a weighted average price of $12.5682, with transaction prices ranging from $12.5650 to $12.61. After the sale the reporting person beneficially owns 893,433 shares, held indirectly.

The Form 4 identifies the reporting person as the Edward K. Christian Trust at a Detroit address and is signed by Judith Christian, Trustee on 10/02/2025. The filing indicates a relationship to the issuer that includes being a Director and a 10% owner.

Insights

Corporate Governance Expert

Small insider sale disclosed: 48 shares at a weighted average of $12.5682 on 09/30/2025.

This Form 4 records a routine disposition by the Edward K. Christian Trust, reducing indirect holdings by 48 shares while leaving total indirect beneficial ownership at 893,433 shares. The filing is signed by Judith Christian, Trustee, showing the trustee executed the report.

The transaction prices are disclosed as a weighted average with an explicit range of $12.5650 to $12.61, and the filer offers to provide detailed per-trade quantities on request. The Form 4 is dated and identifies the reporting relationship as Director and 10% owner.

Transaction date: 09/30/2025.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Edward K. Christian Trust

(Last) (First) (Middle)

500 WOODWARD AVENUE

SUITE 4000

(Street)

DETROIT MI 48226

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SAGA COMMUNICATIONS INC [ SGA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/30/2025		S		48	D	$12.5682(1)	893,433	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.5650 to $12.61, inclusive. The reporting person undertakes to provide Saga Communications, Inc., any security holder of Saga Communications, Inc., 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 ranges set forth in this footnote to this Form 4.

	/s/ Judith Christian, Trustee	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did the Edward K. Christian Trust report for SGA?

The trust reported a sale of 48 Class A shares of Saga Communications (SGA) on 09/30/2025.

At what price were the SGA shares sold?

The shares were sold at a weighted average price of $12.5682, with prices ranging from $12.5650 to $12.61.

How many SGA shares does the reporting person own after the sale?

After the reported transaction the reporting person beneficially owns 893,433 shares, held indirectly.

Who signed the Form 4 for the Edward K. Christian Trust?

The Form 4 is signed by Judith Christian, Trustee on 10/02/2025.

What relationship to Saga Communications is disclosed on the form?

The filing indicates the reporting person is a Director and a 10% owner of Saga Communications.