secwatch.observer — SEC 8-K summary
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Issuer:     SAGA COMMUNICATIONS INC (SGA)
CIK:        0000886136
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001558370-23-008853
Event type: dividend
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Saga Communications declares $0.25 quarterly dividend; elects directors with notable withhold votes
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- Quarterly cash dividend of $0.25 per share declared, payable June 16, 2023 to holders of record May 22, aggregate ~$1.5M.
- Variable dividend policy restated: 70% of prior year Free Cash Flow may be declared in Q2, net of acquisitions, dividends, debt paydowns, buybacks.
- Director Gary G. Stevens elected with 2,249,479 for vs 3,174,387 withheld — more withheld than for.
- 2023 Incentive Compensation Plan approved (5,145,459 for, 226,776 against); say-on-pay approved (3,449,315 for).
- Advisory frequency vote selects every year; company to hold annual say-on-pay votes until at least 2029.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/886136/000155837023008853/0001558370-23-008853-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/886136/000155837023008853/sga-20230509x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-008853

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