Company: SGA
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001558370-25-008957
Chunk: 2

Company: SAGA COMMUNICATIONS INC
Filing Date: 2025-06-27
Form: 11-K
Chunk 2
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518 |   |   |      |  2,628,296 |   |
| Net increase in net assets                                                 |   |                          |  2,537,728 | ​ |   |      |  5,130,697 | ​ |
| Net assets available for benefits:                                         |   |                          |            |   |   |      |            |   |
| Beginning of year                                                          |   |                          | 43,704,261 |   |   |      | 38,573,564 |   |
| End of year                                                                |   | $                        | 46,241,989 |   |   | $    | 43,704,261 |   |

See accompanying notes.

6

<div align='center'>Saga Communications, Inc.

Employees’ 401(k) Savings and Investment Plan

Notes to Financial Statements

Years ended December 31, 2024 and 2023</div>

1. Description of Plan

The following description of Saga Communications, Inc. Employees’ 401(k) Savings and Investment Plan (the “Plan”) provides only general information. Saga Communications, Inc. (the “Company”) is the plan sponsor. Participants should refer to the summary plan description for more complete information.

General

The Plan is a defined contribution plan which includes, as participants, all eligible employees who have completed 90 days of employment and reached the age of twenty-one. All newly hired eligible employees are automatically enrolled to defer 3% of their pay unless they choose a different amount. The Plan is administered by the Company and is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).

Principal Financial Group (“Principal”) is the Plan’s trustee and recordkeeper. The plan administrator has overall responsibility for the operation and administration of the Plan.

Contributions

Contributions to participants’ accounts are effected through voluntary payroll deductions. Participants may contribute 1% - 50% of their compensation. Annual contributions for each participant are subject to the participation and discrimination standards of Internal Revenue Code Section 401(k). Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions. Participants are able to designate all or a portion of their 401(k) elective deferral contributions as pre-tax elective deferral contributions or Roth elective deferral contributions. No reduction was required for corrective distributions of excess contributions and related earnings for the years ended December 31, 2024 and 2023, in