Company: SGA
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001104659-25-033247
Chunk: 52

Company: SAGA COMMUNICATIONS INC
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 52
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 guidelines, code of ethics, conflict of interest, or similar policies; or (f) illegal drug or substance abuse or addiction by the executive which is not protected by law. Under the form of stock option agreement made and entered into pursuant to the 2005 Incentive Compensation Plan and the 2023 Incentive Compensation Plan, all options become fully vested and exercisable in full upon the occurrence of a change- in-control as defined in the 2005 Incentive Compensation Plan and the 2023 Incentive Compensation Plan or if the Compensation Committee determines that a change-in-control has occurred, if the optionee is an employee at the time of such occurrence. Similarly, under the form of restricted stock agreement adopted under the 2005 Incentive Compensation Plan and the 2023 Incentive Compensation Plan, the vesting or restricting period shall lapse with respect to all restricted stock upon the occurrence of a change-in-control, as defined in the 2005 Incentive Compensation Plan and the 2023 Incentive Compensation Plan, or if the Compensation Committee determines that a change-in-control has occurred if the grantee of the restricted stock is an employee at the time of such occurrence. Under the Company’s 1999 and 2005 deferred compensation plans upon a change-in-control of the Company as defined in such plans, each participant shall be distributed all amounts credited to the account of the participant in a lump sum. 31

TABLE OF CONTENTS

PAY VERSUS PERFORMANCE The following table provides information for fiscal years 2024, 2023 and 2022 with respect to the compensation, as calculated under SEC rules, of our principal executive officers (“PEO”), which includes both our current and former CEOs, the average compensation of our other NEOs, and certain performance measures specified under SEC rules. Pay Versus Performance Table**

| ​               
 Fiscal Year (a) | ​ 
 ​ | ​ 
 ​ | Principal Executive Officers (“PEOs”)(1) 
 ForgySCT Total (b)                       |   |           |   | ​ | ​ | LadaSCT Table (b) |   |         |   | ​ | ​ | ChristianSCT Table (b) |   |           |   | ​ | ​ | ForgyCompensationActually Paid (c)(3) |   |           |   | ​ | ​ | LadaCompensationActually Paid (c)(3) |   |         |   | ​ | ​ | ChristianCompensationActually Paid