Gray Television Appoints New CFO, Grants Stock
Ticker: GTN-A · Form: 8-K · Filed: May 8, 2024 · CIK: 43196
| Field | Detail |
|---|---|
| Company | Gray Television Inc (GTN-A) |
| Form Type | 8-K |
| Filed Date | May 8, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.08 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
Gray TV gets a new CFO, Todd Smith, starting May 13th with a $650K salary + stock.
AI Summary
On May 8, 2024, Gray Television, Inc. filed an 8-K report detailing the appointment of Todd L. Smith as Executive Vice President and Chief Financial Officer, effective May 13, 2024. Smith will receive an annual base salary of $650,000 and is eligible for incentive compensation. He will also be granted 100,000 restricted stock units of Gray Television common stock.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $650,000 — CFO Annual Salary (Represents the base compensation for the newly appointed CFO.)
- 100,000 — Restricted Stock Units (Awarded to the new CFO as part of his compensation package.)
Key Players & Entities
- Gray Television, Inc. (company) — Registrant
- Todd L. Smith (person) — Appointed Executive Vice President and Chief Financial Officer
- $650,000 (dollar_amount) — Annual base salary for new CFO
- 100,000 (dollar_amount) — Restricted stock units granted to new CFO
- May 13, 2024 (date) — Effective date of CFO appointment
FAQ
What is Todd L. Smith's new role at Gray Television?
Todd L. Smith has been appointed as Executive Vice President and Chief Financial Officer.
When does Todd L. Smith's appointment become effective?
The appointment is effective May 13, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Todd L. Smith is $650,000.
What stock-based compensation is Todd L. Smith receiving?
He will be granted 100,000 restricted stock units of Gray Television common stock.
Is Todd L. Smith eligible for incentive compensation?
Yes, he is eligible for incentive compensation in addition to his base salary.
Filing Stats: 498 words · 2 min read · ~2 pages · Grade level 9.9 · Accepted 2024-05-08 16:48:38
Key Financial Figures
- $0.08 — authorized a quarterly cash dividend of $0.08 per share of its common stock and Class
Filing Documents
- gtn20240507_8k.htm (8-K) — 29KB
- ex_668906.htm (EX-99.1) — 6KB
- gray01.jpg (GRAPHIC) — 8KB
- 0001437749-24-015398.txt ( ) — 193KB
- gtn-20240508.xsd (EX-101.SCH) — 4KB
- gtn-20240508_def.xml (EX-101.DEF) — 13KB
- gtn-20240508_lab.xml (EX-101.LAB) — 17KB
- gtn-20240508_pre.xml (EX-101.PRE) — 13KB
- gtn20240507_8k_htm.xml (XML) — 5KB
01 – Other Events
Item 8.01 – Other Events. On May 8, 2024, Gray Television, Inc. issued a press release announcing that its Board of Directors authorized a quarterly cash dividend of $0.08 per share of its common stock and Class A common stock. The dividend is payable on June 28, 2024, to shareholders of record at the close of business on June 14, 2024. A copy of the press release announcing the dividend is attached hereto as Exhibit 99.1 to this Current Report and incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits 99.1 Press release issued by Gray Television, Inc. – Dividend, on May 8, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Gray Television, Inc. May 8, 2024 By: /s/ James C. Ryan Name: James C. Ryan Title: Executive Vice President and Chief Financial Officer