Saga Communications (NASDAQ: SGA) investor discloses 6.2% passive stake

Rhea-AI Filing Summary

Saga Communications, Inc. shareholder Stanley Kesselman filed an updated beneficial ownership report stating he owns 391,355 shares of the company’s Class A Common Stock, representing 6.2% of the class as of the reporting date. He reports sole power to vote and dispose of all these shares, with no shared voting or dispositive power. The filing is made on a passive basis, with Kesselman certifying that the securities were not acquired and are not held for the purpose of changing or influencing control of Saga Communications.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Saga Communications, Inc.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

786598300

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 786598300

1

Names of Reporting Persons

Stanley Kesselman

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 391,355.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 391,355.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

391,355.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.2 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Saga Communications, Inc.
(b)	Address of issuer's principal executive offices: 73 Kercheval Ave, Grosse Pointe Farms, MI 48236
Item 2.
(a)	Name of person filing: Stanley Kesselman
(b)	Address or principal business office or, if none, residence: c/o Maxim Group, 300 Park Ave, 16th Floor, New York, NY 10022
(c)	Citizenship: USA
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP No.: 786598300
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 391,355
(b)	Percent of class: 6.2%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 391,355
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 391,355
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Stanley Kesselman

Signature:	/s/ Stanley Kesselman
Name/Title:	Stanley Kesselman
Date:	01/07/2026

FAQ

What ownership stake in Saga Communications (SGA) does Stanley Kesselman report?

Stanley Kesselman reports beneficial ownership of 391,355 shares of Saga Communications, Inc. Class A Common Stock, representing 6.2% of that class.

Does Stanley Kesselman have sole or shared voting power over his Saga Communications (SGA) shares?

He reports sole voting power over 391,355 shares and no shared voting power.

What dispositive power over Saga Communications (SGA) shares does Kesselman report?

Stanley Kesselman reports sole dispositive power over 391,355 shares and no shared dispositive power.

Is Stanley Kesselman’s stake in Saga Communications (SGA) reported as passive or for control purposes?

The certification states the securities were not acquired and are not held to change or influence control of Saga Communications, indicating a passive ownership stance.

What class of Saga Communications (SGA) securities does this Schedule 13G/A cover?

The filing covers Class A Common Stock of Saga Communications, Inc., identified by CUSIP 786598300.

What is the date of the event that triggered this Saga Communications (SGA) ownership filing?

The date of the event requiring the filing is listed as 12/31/2025.