Saga Communications (SGA) CEO receives 30,412 Class A shares at $0

Rhea-AI Filing Summary

Saga Communications' President and CEO Christopher Forgy, who also serves as a director, acquired 30,412 shares of Class A Common Stock on 12/10/2025 at a price of $0 per share. This appears consistent with an equity award rather than an open-market purchase.

Following this transaction, he beneficially owned 118,474 Class A shares directly and an additional 769 shares indirectly through a 401(k) plan. This increases his direct equity stake in the company, further aligning his interests with other shareholders.

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
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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).

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^*

FORGY CHRISTOPHER

(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
X	Officer (give title below)		Other (specify below)
	PRESIDENT & CEO

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		30,412	A	$0	118,474	D
Class A Common Stock								769	I	In 401(k) plan

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/ Christopher Forgy	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.

FAQ

What insider share transaction did Saga Communications (SGA) disclose for its CEO?

Saga Communications' President and CEO Christopher Forgy acquired 30,412 shares of Class A Common Stock on 12/10/2025 at a price of $0 per share.

How many Saga Communications (SGA) shares does Christopher Forgy hold after the transaction?

After the transaction, Christopher Forgy beneficially owned 118,474 Class A shares directly and 769 shares indirectly in a 401(k) plan.

What type of Saga Communications (SGA) stock did the CEO acquire?

Christopher Forgy acquired Class A Common Stock of Saga Communications, totaling 30,412 shares in the reported transaction.

Was cash paid for the Saga Communications (SGA) shares acquired by the CEO?

No cash was reported as paid; the 30,412 Class A shares were acquired at a stated price of $0 per share.

What is Christopher Forgy’s role at Saga Communications (SGA)?

Christopher Forgy is listed as both a Director and an Officer, serving as President & CEO of Saga Communications.