Company: SGA
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001558370-25-007167
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Company: SAGA COMMUNICATIONS INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Part II, Item 1A
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Item 1A. Risk Factors

There have been no material changes to the risk factors previously disclosed in response to Part 1, “Item 1A. Risk Factors,” of our annual report on Form 10-K for the year ended December 31, 2024.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

We made no unregistered sales of equity securities during the fiscal quarter ended March 31, 2025.

The following table summarizes our repurchases of our Class A Common Stock during the three months ended March 31, 2025.

​​​​​​​​​​​​​​​​​​Total Number​Approximate​​​​​​​of​Dollar​​​​​​Shares​Value of​​​​​​Purchased​Shares​​Total ​Average​as Part of​that May Yet be​​Number​Price​Publicly​Purchased​​of Shares​Paid per​Announced​Under thePeriod    Purchased (1)    Share    Program    Program (2)January 1 - January 31, 2025​ —​$ —​ —​$ 17,686,383February 1 - February 28, 2025​ —​$ —​ —​$ 17,686,383March 1 - March 31, 2025​ —​$ —​ —​$ 17,686,383Total  —​$ —  —​$ 17,686,383

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(1)All shares were purchased other than through a publicly announced plan or program.  The shares were forfeited to the Company for payment of tax withholding obligations related to the vesting of restricted stock.

(2)We have a Stock Buy-Back Program which allows us to purchase our Class A Common Stock. In February 2013, our Board of Directors authorized an increase in the amount committed to the Buy-Back Program from $60 million to approximately $75.8 million.

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Item 5. Other Information

None of the Company’s directors or executive officers adopted, modified or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement, as defined in Item 408 of Regulation S-K, during the Company’s fiscal quarter ended March 31, 2025.

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