Exhibit 4.1


 


 





	NUMBER	 	SHARES







	CLASS __ COMMON STOCK	 	CUSIP 786598 30 0
	$.01 PAR VALUE	 	SEE REVERSE FOR CERTAIN 

DEFINITIONS




 


INCORPORATED UNDER THE LAWS OF THE STATE
OF FLORIDA


 


 


This certifies that ____________________



 


SPECIMEN


 


is the registered holder of ________________


 


 


FULLY PAID AND NON-ASSESSABLE SHARES OF
THE CLASS __ COMMON STOCK OF


 


 


SAGA COMMUNICATIONS, INC. (the “Corporation”)
transferable on the books of the Corporation by the holder of record hereof in person or by duly authorized attorney, upon surrender
of this certificate properly endorsed or assigned. The Corporation has more than one class of stock authorized to be issued. The
Corporation will furnish without charge to each shareholder upon written request a copy of the full text of the preferences, voting
powers, qualifications and special and relative rights of the shares of each class of stock (and any series thereof) authorized
to be issued by the Corporation as set forth in the Articles of Incorporation and amendments thereto filed with the Secretary of
State of the State of Florida. This certificate and the shares represented hereby are issued and shall be subject to all of the
provisions of the laws of the State of Florida, the Articles of Incorporation, the Bylaws of the Corporation and any amendments
thereto, to all of which the holder, by acceptance hereof, assents. This certificate is not valid unless countersigned by the Transfer
Agent and registered by the Registrar.


 


 


Witness the facsimile seal of the Corporation
and signatures of its duly authorized officers.


 


Dated:


 


COUNTERSIGNED AND REGISTERED:


	 	 	COMPUTERSHARE	 	 	 	 
	 	 	 	 	 	 	 
	 	 	TRANSFER AGENT	 	 	 	 
	 	 	AND REGISTRAR	 	/s/ Edward
    K. Christian	 	/s/ Samuel
    D. Bush
	By:	 	 	 	 	 	 
	 	 	AUTHORIZED
    SIGNATURE	 	PRESIDENT,
    CHIEF	 	SENIOR VICE
    PRESIDENT,
	 	 	 	 	EXECUTIVE OFFICER	 	TREASURER AND CHIEF
	 	 	 	 	AND CHAIRMAN	 	FINANCIAL OFFICER




 






     


     


    







 


[Reverse of Certificate]


 


SAGA COMMUNICATIONS, INC.


 


The following provisions set forth certain
limitations with respect to the transfer of shares of Class __ Common Stock represented by this Certificate. Pursuant to the Communications
Act of 1934, as amended, the Corporation shall not issue to “Aliens” (which term shall include (i) a person who is
a citizen of a country other than the United States; (ii) any entity organized under the laws of a government other than the government
of the United States or any state, territory, or possession of the United States; (iii) a government other than the government
of the United States or of any state, territory, or possession of the United States; and (iv) a representative of, or an individual
or entity controlled by, any of the foregoing), either individually or in the aggregate, in excess of 25% of the total number of
shares of capital stock of the Corporation outstanding at any time and shall seek not to permit the transfer on the books of the
Corporation of any capital stock to any Alien that would result in the total number of shares of such capital stock held by Aliens
exceeding such 25% limit. The Corporation will furnish to any shareholder, upon request and without charge, copies of the Articles
of Incorporation, Bylaws and any applicable resolutions of the Board of Directors of the Corporation adopted for the purpose of
ensuring that control of the Corporation remains with loyal citizens of the United States as required by the Communications Act
of 1934, as amended.


 


The following abbreviations, when used in
the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable
laws or regulations.


 


	TEN
    COM  	– 	as
    tenants in common	UNIF
                                 GIFT MIN ACT – 	 	 Custodian 	 	 	UNIF
    TRAN MIN ACT – 	 	 Custodian 	 
	TEN
    ENT 	–	as
    tenants by the entireties	 	 	(Cust)	 	(Minor)	 		(Cust)	 	(Minor)
	JT
    TEN 	– 	as
    joint tenants with right of survivorship	 	 	 	 	 	 	 	 	 	 
	 	 	and
    not as tenants in common	 	 	under
    Uniform Gifts to Minors	 	 	under
                                         Uniform Transfers to Minors
	TOD 	–	transfer
    on death direction in event of	 	 	Act	 	 	 	Act	 
	 	 	owner
    ’s death, to person named on face	 	 	 	(State)	 	 	 	(State)
	 	 	subjecty
    to STA TOD rules	 	 	 	 	 	 	 	 	 	 




 


Additional abbreviations may also be used
though not in the above list.


 


 


For Value Received, __________________________
hereby sell, assign and transfer unto


 


	PLEASE INSERT SOCIAL SECURITY
    OR OTHER	 
	IDENTIFYING NUMBER OF ASSIGNEE	 
	  	 




 


	 
	(PLEASE PRINT OR TYPEWRITE ADDRESS, INCLUDING ZIP CODE OF ASSIGNEE)
	 
	 
	 
	 







	 	 Shares




of the Class __ Common Stock represented by the within
Certificate, and do hereby irrevocable constitute and appoint


	 	 Attorney




to transfer the said shares on the books
of the within named Corporation with full power of substitution in the premises.


  


	Dated:	 	 	 	 
	 	 	 	 	Signature
	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Signature
	 	 	 	 	 	 	 
	In presence of	 	 	 	 
	 	 	 	 	NOTICE:	 	THE SIGNATURE TO THIS
    ASSIGNMENT MUST
 CORRESPOND WITH THE NAME OF THE
 SHAREHOLDER(S) AS WRITTEN UPON THE
 FACE OF THE CERTIFICATE IN
    EVERY
 PARTICULAR WITHOUT ALTERATION OR
 ENLARGEMENT OR ANY CHANGE
 WHATEVER.