The cluster is overwhelmingly driven by tax-related stock surrender after derivative exercises — a routine pattern with no informational content. Monitor upcoming Q2 2026 earnings (likely late July/August) for any operating guidance changes since insider sales are not signaling distress.
Price Chart
Executive Summary
Multiple Nexstar Media insiders, including the CFO and other C-suite executives, sold shares on the same day (June 4, 2026) following a wave of derivative exercises on June 3-6. The open-market sales total ~$511K, or ~0.0095% of the $5.4B market cap — a trivial amount relative to company size. The cluster appears entirely driven by tax-withholding share surrender after pre-planned option exercises, not a coordinated bearish signal.
Key Financial Metrics
Key Facts
- 6 of the 8 open-market sales occurred on June 4, 2026, at ~$182.42/share, totaling ~$511K in proceeds
- 6 insiders sold — including EVP/CFO Gliha Lee Ann, President of Broadcasting, President of Networks, and other senior VPs
- All June 4 open-market sales followed or coincided with non-cash derivative exercises on June 3 and June 6 (tax-withholding share settlements)
- Total sales represent only ~0.0095% of NXST's $5.4B market cap — far below the 0.1% materiality threshold
- A separate 10b5-1 sale by director McMillen ($180K on June 9) is also routine in size and pattern
Financial Impact
Slightly under $700K in total insider open-market sales over the window; immaterial relative to $5.4B market cap
Risk Factors
- None from this cluster; the sales are trivial and mechanically tied to option vesting/tax withholding
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-NXST-1781046873363 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 3d ago | Press Release | $168.76 | awaiting T+20 | — | $164.05 (−2.79%) |
Oct 13, 2026 13d ago | Press Release | $160.56 | awaiting T+20 | — | $164.05 (+2.17%) |
Aug 24, 2026 8w ago | Insider Cluster | $189.39 $165.57 | ▼ −12.58% | ▼ −12.83% | $164.05 (−13.38%) |
Aug 17, 2026 10w ago | Court Ruling | $182.57 $163.67 | ▼ −10.35% | ▼ −8.61% | $164.05 (−10.14%) |
Aug 6, 2026 11w ago | 8-K | $187.97 $177.67 | ▼ −5.48% | ▼ −6.08% | $164.05 (−12.73%) |
Aug 3, 2026 11w ago | 8-K | $192.49 $181.14 | ▼ −5.90% | ▼ −7.14% | $164.05 (−14.77%) |
Jun 30, 2026 16w ago | Court Ruling | $178.59 $185.80 | ▲ +4.04% | ▲ +5.07% | $164.05 (−8.14%) |
Jun 29, 2026 16w ago | Insider Buy | $170.73 $183.31 | ▲ +7.37% | ▲ +7.65% | $164.05 (−3.91%) |
Jun 16, 2026 18w ago | 8-K | $172.11 $175.56 | ▲ +2.00% | ▲ +1.80% | $164.05 (−4.68%) |
Jun 15, 2026 19w ago | Insider Cluster | $172.29 $175.46 | ▲ +1.84% | ▲ +2.59% | $164.05 (−4.78%) |
US Market Status
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