Nexstar Media Group Inc.: Executive VP Brett Jenkins Sells Shares to Cover Tax Obligations Amid Overvalued Stock Price
Brett Jenkins, the Executive Vice President and Chief Technology & Digital Officer at Nexstar Media Group, Inc., recently sold 301 shares of the company's common stock on June 16, 2026, to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). Mr. Jenkins had acquired 656 shares of common stock on June 14, 2026, resulting from the settlement of these RSUs. The company's stock price is currently at $172.11, near its 52-week low of $164, and is considered overvalued compared to its Fair Value estimate. Nexstar Media Group Inc. offers a dividend yield of 4.32% and has increased its dividend for 13 consecutive years. Mr. Jenkins now holds 28,798 shares of Nexstar Media Group common stock directly, following these transactions.
Nexstar Media Group Inc. reported strong financial results for the first quarter of 2026, surpassing Wall Street expectations. The company achieved an earnings per share of $5.09, exceeding the predicted $4.45, and generated revenue of $1.4 billion, higher than the anticipated $1.26 billion. These results were attributed to strategic growth and the successful integration of Tegna operations. Nexstar shareholders approved all proposals at the 2026 Annual Shareholders Meeting, including the election of board nominees and the executive compensation plan. Additionally, Nexstar announced the promotion of four executives in various departments. TEGNA Inc. appointed Patrick Paolini as Chief Executive Officer and Kurt Rao as Executive Vice President and Chief Technology and Digital Products Officer to enhance its digital products and technology platforms.
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