{"schema_version":"secwatch.filing_event.v1","accession":"0001558370-22-018444","form_type":"8-K","ticker":"SGA","cik":"0000886136","company_name":"SAGA COMMUNICATIONS INC","filed_at":"2022-12-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:53.869963+00:00","generated_at":"2026-06-21T08:29:47.807883+00:00","sec_items":["8.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Saga declares $0.25 quarterly and $2.00 special dividend; rejects $30-$33/share buyout; elects new chairman","bullets":["Declared quarterly dividend of $0.25/share and special dividend of $2.00/share payable Jan 13, 2023; aggregate ~$13.6M.","Adopted variable dividend policy: additional dividend in Q2 equal to 70% of prior year's Free Cash Flow net of acquisitions, dividends, debt paydowns, buybacks.","Board rejected unsolicited conditional buyout offer of $30-$33/share cash or $12.47 cash plus 83.1% stake in combined entity.","Warren S. Lada elected Chairman of Board; replaces Gary G. Stevens who remains director. CEO Christopher Forgy appointed to Board.","Company will continue to review strategic opportunities including acquisitions and dividend policy."],"urls":{"canonical":"https://secwatch.observer/filing/0001558370-22-018444","json":"https://secwatch.observer/filing/0001558370-22-018444.json","markdown":"https://secwatch.observer/filing/0001558370-22-018444.md","text":"https://secwatch.observer/filing/0001558370-22-018444.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/886136/000155837022018444/0001558370-22-018444-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/886136/000155837022018444/sga-20221207x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T08:29:47.807883+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}