The cluster's small size relative to market cap and the concurrent tax-motivated derivative exercises point to routine portfolio diversification, not a material bearish read. Per academic literature, cluster sells carry weak predictive power, and the C-suite participation here is likely driven by shared blackout-window activity. No actionable trading signal for NXST equity.
Price Chart
Executive Summary
Multiple NXST insiders, including four division presidents and the CFO, collectively sold $637K in open-market shares during a 7-day window, with 8 out of 8 designated open-market trades being sells. The cluster is notable for its broad C-suite participation, but the total dollar value represents only ~0.012% of NXST's $5.5B market cap, well below the 0.1% materiality threshold, making this a routine liquidity-driven event. The simultaneous option exercises by several executives preceding the sales suggest these are standard cashless exercises for tax obligations, not a coordinated bearish signal.
Key Financial Metrics
Key Facts
- 8 insiders sold open-market shares totaling ~$637K in a 7-day window.
- Total open-market sales represent ~0.012% of NXST's $5.5B market cap.
- C-suite participants include division presidents (Broadcasting, Networks), the EVP/CFO, and the COO.
- Multiple executives simultaneously exercised $0-strike derivatives on the same dates, typical of planned option exercises tied to tax withholding.
- No open-market purchases were reported in the cluster; every cash transaction was a sale.
- Director McMillen's $180K sale on June 9 was the largest single trade at $180/share.
Financial Impact
Total insider open-market sales of ~$637K, or ~0.012% of market cap.
Risk Factors
- Broad insider selling could be misinterpreted by the market as a negative signal.
- If a material adverse event follows (not currently indicated), the sales would appear poorly timed.
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-1781126814691 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | Press Release | $167.34 | awaiting T+20 | — | $164.41 (−1.75%) |
Oct 13, 2026 13d ago | Press Release | $160.56 | awaiting T+20 | — | $164.41 (+2.40%) |
Aug 24, 2026 9w ago | Insider Cluster | $189.39 $165.57 | ▼ −12.58% | ▼ −12.83% | $164.41 (−13.19%) |
Aug 17, 2026 10w ago | Court Ruling | $182.57 $163.67 | ▼ −10.35% | ▼ −8.61% | $164.41 (−9.95%) |
Aug 6, 2026 11w ago | 8-K | $187.97 $177.67 | ▼ −5.48% | ▼ −6.08% | $164.41 (−12.53%) |
Aug 3, 2026 12w ago | 8-K | $192.49 $181.14 | ▼ −5.90% | ▼ −7.14% | $164.41 (−14.59%) |
Jun 30, 2026 17w ago | Court Ruling | $178.59 $185.80 | ▲ +4.04% | ▲ +5.07% | $164.41 (−7.94%) |
Jun 29, 2026 17w ago | Insider Buy | $170.73 $183.31 | ▲ +7.37% | ▲ +7.65% | $164.41 (−3.70%) |
Jun 16, 2026 18w ago | 8-K | $172.11 $175.56 | ▲ +2.00% | ▲ +1.80% | $164.41 (−4.47%) |
Jun 15, 2026 19w ago | Insider Cluster | $172.29 $175.46 | ▲ +1.84% | ▲ +2.59% | $164.41 (−4.57%) |
US Market Status
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