Company: SGA
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001104659-25-033247
Chunk: 40

Company: SAGA COMMUNICATIONS INC
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 40
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 assets are available to our creditors. Health Plans and Perquisites We provide our executive officers with certain benefits and perquisites. These benefits and perquisites are designed to attract and retain our senior managers. Benefits include basic life insurance and medical and dental insurance equal to that provided to other employees. In addition, executive officers also receive benefits under a split dollar life insurance plan and a long-term care plan. Executive officers are also eligible for car allowances and medical reimbursements. Under his employment agreement, Mr. Forgy receives a company provided vehicle, medical reimbursements and a country club membership. Perquisites are provided in order to provide a total compensation package which is competitive with the marketplace for executive officers. Severance Arrangements As discussed in more detail in the section below entitled “Compensation of Executive Officers — Employment Agreements and Potential Payments Upon Termination or Change-in-Control,” in December 2007, the Committee determined to enter into change-in-control agreements with its executive officers. The agreements are intended to help retain executives during continued industry consolidation and are designed to attract and retain senior managers and to provide for continuity of management in the event of a change-in-control. The change-in-control agreements provide that we shall pay a lump sum payment within forty-five days of the change-in-control of 1.5 times the average of the executive’s last three full calendar years of such executive’s base salary and any annual cash bonus. We or the surviving entity may require as a condition to 25

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receipt of payment that the executive continue in employment for a period of up to six months after consummation of the change-in-control. During such six months, the executive will continue to earn his pre-existing salary and benefits. Securities Authorized for Issuance Under Equity Compensation Plan Information The following table sets forth as of December 31, 2024, the number of securities outstanding under our equity compensation plans, the weighted average exercise price of such securities and the number of securities available for grant under these plans:

| ​                                                       
 Plan Category                                           
 Equity Compensation Plans Approved by Shareholders:     | ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ | (a)                                                                              
 Number ofShares to beIssued UponExercise ofOutstandingOptionsWarrants, andRights 
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 ​ 
 ​ | ​ 
 ​ 
 ​ | (b)                                                                     
 Weighted-AverageExercise Price ofOutstanding Options,Warrantsand Rights 
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