Company: SGA
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001104659-25-033247
Chunk: 27

Company: SAGA COMMUNICATIONS INC
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 27
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 Eric Christian was employed by the Company as the Company’s Chief Marketing Officer, was paid an aggregate salary and bonus of $195,000 and participated in the Company’s employee benefits plans. The Board of Directors approved the hiring of Mr. Eric Christian as the Company’s Director of Digital Strategies in 2019, his promotion to Vice President of Digital Strategies in July 2020, and his promotion to Chief Marketing Officer in February 2023. The Company has employed on a part time basis Sera Christian, the granddaughter of Judith A. Christian and our former President, CEO and Chairman, Edward K. Christian, who passed away in August 2022. Mrs. Christian, along with Michael L. Dallaire, serves as a co-trustees of the Edward K. Christian Trust, a more than 10% shareholder. For the 2024 fiscal year, Ms. Sera Christian was employed full time by the Company as the Company’s Streaming Traffic Manager and has an annual salary of $50,000 and participated in the Company’s employee benefit plans. Mr. Christian’s estate is now the beneficiary of the Split Dollar life insurance policy that had a cash surrender value of approximately $1,029,000. Under the agreement, the Company is responsible to pay the estate’s income tax obligation relating to the transfer of the life insurance policy and as such, recorded $500,000 in the fourth quarter of 2024 when the transfer of the policy occurred. 18 TABLE OF CONTENTS PROPOSAL 2 — TO RATIFY APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Pursuant to the Finance and Audit Committee’s charter, each year the Finance and Audit Committee appoints the Company’s independent auditor after considering, among other things, the independent auditor’s independence, its services, and its fees for audit and non-audit services. After considering these matters, the Finance and Audit Committee appointed Crowe LLP to be our independent registered public accounting firm for the fiscal year ended December 31, 2025. On August 12, 2024, following the completion of a competitive process, our Finance and Audit Committee approved the engagement of Crowe LLP to serve as the Company’s independent registered public accounting firm, effective as of such date. During the fiscal years ended December 31, 2024 and 2023, the Company did not, nor did anyone on the Company’s behalf, consult with Crowe LLP with respect to (a) the application of accounting principles to a specified transaction, either