Company: SGA
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001104659-25-033247
Chunk: 34

Company: SAGA COMMUNICATIONS INC
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 34
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2, the Company agreed to pay Mr. Forgy a base salary during his initial three year employment term of:

| ​ | Year 1                                    | ​ | ​ | ​ | ​ |       ​ | ​ | ​ |
|:--|:------------------------------------------|:--|:--|:--|:--|--------:|:--|:--|
| ​ | December 7, 2022 through December 6, 2023 | ​ | ​ | ​ | $ | 670,000 | ​ | ​ |
| ​ | Year 2                                    | ​ | ​ | ​ | ​ |       ​ | ​ | ​ |
| ​ | December 7, 2023 through December 6, 2024 | ​ | ​ | ​ | $ | 697,000 | ​ | ​ |
| ​ | Year 3                                    | ​ | ​ | ​ | ​ |       ​ | ​ | ​ |
| ​ | December 7, 2024 through December 6, 2025 | ​ | ​ | ​ | $ | 725,000 | ​ | ​ |

In December 2024, the Company and Mr. Forgy mutually agreed to renew the term of Mr. Forgy’s employment for an additional two years, Mr. Forgy’s base salary will be $753,000 in the fourth year through December 6, 2026, and $783,000 in the fifth year through December 6, 2027.

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TABLE OF CONTENTS For fiscal year 2023, the annual base salaries for Mr. Bush and Mr. Leland were $365,000 and $300,000, respectively. For fiscal year 2024, the annual base salaries for Mr. Bush and Mr. Leland were $410,000 and $320,000, respectively. On September 16, 2024, Mr. Bush was promoted to Executive Vice President of the Company, and Mr. Leland was promoted to Chief Operating Officer of the Company. Mr. Bush and Mr. Leland remain party to their existing employment agreements and will continue to receive the compensation contemplated thereby. Prior to their most recent promotions, Mr. Bush previously served as the Company’s Senior Vice President, Chief Financial Officer and Treasurer and will continue his positions as Chief Financial Officer and Treasurer. Mr. Leland was previously promoted to be the Company’s Senior Vice President of Operations effective January 3, 2023, with his annual base salary set at $300,