Saga Communications director acquires 2,960 Class A shares at $0

Saga Communications disclosed an insider share acquisition by a company director.

Rhea-AI Filing Summary

Saga Communications disclosed an insider share acquisition by a company director. On 12/10/2025, the director acquired 2,960 shares of Class A Common Stock at a price of $0 per share. After this transaction, the director beneficially owns 2,960 shares, held in direct ownership form.

Insider Trade Summary

Grant/Award: 2,960 shares

Grant/Award 1 txn

Insider Scafidi Michael

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	2,960	$0.00	$0.00

Holdings After Transaction: Class A Common Stock — 2,960 shares (Direct)

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction was reported for Saga Communications (SGA)?

A director of Saga Communications acquired 2,960 shares of Class A Common Stock on 12/10/2025 at a price of $0 per share.

What type of Saga Communications (SGA) security was involved in the Form 4?

The transaction involved Class A Common Stock of Saga Communications.

How many Saga Communications (SGA) shares does the insider own after the transaction?

Following the reported transaction, the director beneficially owns 2,960 shares of Saga Communications Class A Common Stock.

Was the Saga Communications (SGA) insider transaction an acquisition or a sale?

The Form 4 shows an acquisition (Transaction Code "A") of 2,960 shares of Class A Common Stock.

Is the Saga Communications (SGA) insider ownership direct or indirect?

The Form 4 indicates the ownership form is Direct (D) for the 2,960 shares held after the transaction.

Were any derivative securities reported for the Saga Communications (SGA) insider?

The section for derivative securities is present but contains no reported transactions in the provided content.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 12/12/2025 - 05:09 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Scafidi Michael

(Last) (First) (Middle)

C/O SAGA COMMUNICATIONS, INC.

73 KERCHEVAL AVENUE

(Street)

GROSSE POINTE FARMS MI 48236

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/10/2025

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	12/10/2025		A		2,960	A	$0	2,960	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:

	/s/ Adin J. Tarr, Attorney-in-Fact	12/12/2025
	** 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.