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E.W. Scripps Co. – ‘10-K’ for 12/31/23 – ‘EX-19’

On:  Friday, 2/23/24, at 3:24pm ET   ·   For:  12/31/23   ·   Accession #:  832428-24-15   ·   File #:  1-10701

Previous ‘10-K’:  ‘10-K’ on 2/24/23 for 12/31/22   ·   Latest ‘10-K’:  This Filing   ·   17 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/23/24  E.W. Scripps Co.                  10-K       12/31/23  123:14M

Annual Report   —   Form 10-K   —   SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.29M 
 2: EX-10.10    Material Contract                                   HTML     50K 
 3: EX-10.11    Material Contract                                   HTML     59K 
 4: EX-10.12    Material Contract                                   HTML     59K 
 5: EX-19       Report Furnished to Security Holders                HTML     49K 
 6: EX-21       Subsidiaries List                                   HTML     32K 
 7: EX-23       Consent of Expert or Counsel                        HTML     31K 
12: EX-97       Clawback Policy re: Recovery of Erroneously         HTML     41K 
                Awarded Compensation                                             
 8: EX-31.A     Certification -- §302 - SOA'02                      HTML     35K 
 9: EX-31.B     Certification -- §302 - SOA'02                      HTML     36K 
10: EX-32.A     Certification -- §906 - SOA'02                      HTML     32K 
11: EX-32.B     Certification -- §906 - SOA'02                      HTML     32K 
18: R1          Cover                                               HTML    104K 
19: R2          Audit Information                                   HTML     37K 
20: R3          Consolidated Balance Sheets                         HTML    157K 
21: R4          Consolidated Balance Sheets (Parenthetical)         HTML     59K 
22: R5          Consolidated Statements of Operations               HTML    169K 
23: R6          Consolidated Statements of Comprehensive Income     HTML     52K 
                (Loss)                                                           
24: R7          Consolidated Statements of Comprehensive Income     HTML     37K 
                (Loss) (Parenthetical)                                           
25: R8          Consolidated Statements of Cash Flows               HTML    169K 
26: R9          Consolidated Statements of Equity                   HTML     74K 
27: R10         Consolidated Statements of Equity (Parenthetical)   HTML     40K 
28: R11         Summary of Significant Accounting Policies          HTML    101K 
29: R12         Recently Adopted and Issued Accounting Standards    HTML     46K 
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31: R14         Restructuring Costs and Other Charges and Credits   HTML     50K 
32: R15         Income Taxes                                        HTML    113K 
33: R16         Investments                                         HTML     41K 
34: R17         Property and Equipment                              HTML     45K 
35: R18         Leases                                              HTML    122K 
36: R19         Goodwill and Other Intangible Assets                HTML    104K 
37: R20         Long-Term Debt                                      HTML     65K 
38: R21         Fair Value Measurement                              HTML     50K 
39: R22         Other Liabilities                                   HTML     45K 
40: R23         Supplemental Cash Flow Information                  HTML     60K 
41: R24         Employee Benefit Plans                              HTML    156K 
42: R25         Segment Information                                 HTML    131K 
43: R26         Commitments and Contingencies                       HTML     36K 
44: R27         Capital Stock and Share-Based Compensation Plans    HTML     77K 
45: R28         Accumulated Other Comprehensive Income (Loss)       HTML     53K 
46: R29         Assets Held for Sale and Discontinued Operations    HTML     44K 
47: R30         Insider Trading Arrangements                        HTML     38K 
48: R31         Summary of Significant Accounting Policies          HTML    128K 
                (Policies)                                                       
49: R32         Summary of Significant Accounting Policies          HTML     77K 
                (Tables)                                                         
50: R33         Acquisitions (Tables)                               HTML     68K 
51: R34         Restructuring Costs and Other Charges and Credits   HTML     46K 
                (Tables)                                                         
52: R35         Income Taxes (Tables)                               HTML    112K 
53: R36         Investments (Tables)                                HTML     41K 
54: R37         Property and Equipment (Tables)                     HTML     48K 
55: R38         Leases (Tables)                                     HTML     79K 
56: R39         Goodwill and Other Intangible Assets (Tables)       HTML    124K 
57: R40         Long-Term Debt (Tables)                             HTML     50K 
58: R41         Fair Value Measurement (Tables)                     HTML     47K 
59: R42         Other Liabilities (Tables)                          HTML     45K 
60: R43         Supplemental Cash Flow Information (Tables)         HTML     61K 
61: R44         Employee Benefit Plans (Tables)                     HTML    159K 
62: R45         Segment Information (Tables)                        HTML    126K 
63: R46         Capital Stock and Share-Based Compensation Plans    HTML     73K 
                (Tables)                                                         
64: R47         Accumulated Other Comprehensive Income (Loss)       HTML     53K 
                (Tables)                                                         
65: R48         Assets Held for Sale and Discontinued Operations    HTML     45K 
                (Tables)                                                         
66: R49         Summary of Significant Accounting Policies -        HTML     79K 
                Narrative (Details)                                              
67: R50         Summary of Significant Accounting Policies - Trade  HTML     40K 
                receivables (Details)                                            
68: R51         Summary of Significant Accounting Policies -        HTML     51K 
                Estimated useful lives (Details)                                 
69: R52         Summary of Significant Accounting Policies -        HTML     62K 
                Earnings per share (Details)                                     
70: R53         Acquisitions - Narrative (Details)                  HTML    101K 
71: R54         Acquisitions - ION Media (Details)                  HTML     50K 
72: R55         Acquisitions - Fair value of assets acquired and    HTML     93K 
                liabilities assumed, ION Media (Details)                         
73: R56         Acquisitions - Pro forma results of operations      HTML     43K 
                (Details)                                                        
74: R57         Restructuring Costs and Other Charges and Credits   HTML     83K 
                - Narrative (Details)                                            
75: R58         Restructuring Costs and Other Charges and Credits   HTML     54K 
                - Changes in restructuring reserve (Details)                     
76: R59         Income Taxes - Provision for income taxes           HTML     58K 
                (Details)                                                        
77: R60         Income Taxes - Effective income tax reconciliation  HTML     55K 
                (Details)                                                        
78: R61         Income Taxes - Narrative (Details)                  HTML     49K 
79: R62         Income Taxes - Deferred tax (Liabilities) Assets    HTML     60K 
                (Details)                                                        
80: R63         Income Taxes - Unrecognized tax benefits (Details)  HTML     46K 
81: R64         Investments - Schedule of Investments (Details)     HTML     39K 
82: R65         Investments - Narrative (Details)                   HTML     38K 
83: R66         Property and Equipment (Details)                    HTML     49K 
84: R67         Leases - Additional information (Details)           HTML     52K 
85: R68         Leases - Lease assets and liabilities (Details)     HTML     69K 
86: R69         Leases - Cash flow supplemental (Details)           HTML     44K 
87: R70         Leases - Lease maturity schedules (Details)         HTML     71K 
88: R71         Goodwill and Other Intangible Assets - Goodwill by  HTML     86K 
                business segment (Details)                                       
89: R72         Goodwill and Other Intangible Assets - Summary of   HTML     55K 
                other intangible assets (Details)                                
90: R73         Goodwill and Other Intangible Assets - Narrative    HTML     50K 
                (Details)                                                        
91: R74         Long-Term Debt - Components of long-term debt       HTML     62K 
                (Details)                                                        
92: R75         Long-Term Debt - Narrative (Details)                HTML    198K 
93: R76         Fair Value Measurement (Details)                    HTML     42K 
94: R77         Other Liabilities - Summary of other liabilities    HTML     49K 
                (Details)                                                        
95: R78         Supplemental Cash Flow Information - Change in      HTML     52K 
                certain working capital accounts (Details)                       
96: R79         Supplemental Cash Flow Information -                HTML     41K 
                Reconciliation of cash, cash equivalents,                        
                restricted cash and restricted cash equivalents                  
                (Details)                                                        
97: R80         Employee Benefit Plans - Components of expense      HTML     52K 
                (Details)                                                        
98: R81         Employee Benefit Plans - Narrative (Details)        HTML     66K 
99: R82         Employee Benefit Plans - Changes recognized in OCI  HTML     43K 
                (Details)                                                        
100: R83         Employee Benefit Plans - Annual retirement plan     HTML     37K  
                expense assumptions (Details)                                    
101: R84         Employee Benefit Plans - Schedule of defined        HTML     90K  
                benefit plans (Details)                                          
102: R85         Employee Benefit Plans - Pension plans with         HTML     45K  
                accumulated benefit obligation in excess of assets               
                (Details)                                                        
103: R86         Employee Benefit Plans - Defined benefit plan       HTML     36K  
                obligations assumptions (Details)                                
104: R87         Employee Benefit Plans - Allocation of plan assets  HTML     47K  
                (Details)                                                        
105: R88         Employee Benefit Plans - Schedule of plan assets    HTML     44K  
                by fair value hierarchy (Details)                                
106: R89         Segment Information - Narrative (Details)           HTML     53K  
107: R90         Segment Information - Schedule of business          HTML    119K  
                segments (Details)                                               
108: R91         Segment Information - Disaggregation of revenue     HTML     48K  
                (Details)                                                        
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                equipment (Details)                                              
110: R93         Commitments and Contingencies (Details)             HTML     43K  
111: R94         Capital Stock and Share-Based Compensation Plans -  HTML    100K  
                Narrative (Details)                                              
112: R95         Capital Stock and Share-Based Compensation Plans -  HTML     80K  
                Restricted stock and restricted stock unit                       
                activity (Details)                                               
113: R96         Capital Stock and Share-Based Compensation Plans -  HTML     46K  
                Additional restricted stock and restricted stock                 
                unit vesting (Details)                                           
114: R97         Capital Stock and Share-Based Compensation Plans -  HTML     39K  
                Schedule of stock compensation costs (Details)                   
115: R98         Capital Stock and Share-Based Compensation Plans -  HTML     33K  
                Phantom (Details)                                                
116: R99         Accumulated Other Comprehensive Income (Loss)       HTML     63K  
                (Details)                                                        
117: R100        Assets Held for Sale and Discontinued Operations -  HTML     64K  
                Operating results of discontinued operations and                 
                net assets distributed (Details)                                 
118: R101        Assets Held for Sale and Discontinued Operations -  HTML     51K  
                Narrative (Details)                                              
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‘EX-19’   —   Report Furnished to Security Holders


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



 C:   C: 
  Document  

image_0c.jpg CORPORATE POLICIES
INSIDER TRADING POLICY


Policy Owner:    William Appleton, Executive Vice President and General Counsel.
Corrective Action:    The standards described in this policy will be consistently enforced. Any employee who violates the policy may be subject to a full range of disciplinary measures, including suspension or termination, responsibility for financial damages and possible criminal prosecution and fines or penalties levied by governmental agencies.
Approval Process:    This policy must be reviewed annually by the Audit Committee of the Company’s Board of Directors.
Initial Approval:    This policy was approved on May 22, 1997, by the Company’s Board of Directors.
Last Amended:    February 21, 2022

image_3a.jpg

Scripps insider trading policy provides:

No trading or tipping on the basis of material non-public information.

(Directors and employees must be careful not to disclose material confidential information to members of their immediate family or household or to friends and acquaintances. If a family member or friend trades on the basis of “tipped” information, the Securities and Exchange Commission (“SEC”) may hold the director or employee responsible.)

All transactions in Company stock by directors and officers and other employees who routinely have access to material non-public information (“Key Employees”) must be precleared. Key Employees include officers of the Company and other employees designated by the Company’s CEO, CFO or General Counsel.

All directors, officers and Key Employees are prohibited from hedging or pledging shares of Class A common stock.

Disclosure of confidential information by any employee or director is prohibited, except in the performance of regular duties.

No trading will be permitted when the Company is involved in negotiations
with an outside party if such negotiations are considered material information
and have not been disclosed to the public.

image_4a.jpg

Purpose. This policy is intended to protect our business and to assure compliance with laws and regulations concerning misuse of material non-public information. We want to protect the Company, our employees and our directors from legal liability and to prevent inadvertent violations of law or the appearance of impropriety.

Who must comply. Insider trading is prohibited by both federal law and this policy. All directors, officers and Key Employees of the Company must comply with the preclearance section of this policy and will be asked annually to certify that they have complied with it.

Company assistance. Any questions regarding the policy or its application to a particular case should be directed to William Appleton by phone at 513-977-3997 or e-mail at appleton@scripps.com. The ultimate

Page 1 of 1


responsibility, however, for adhering to the policy and avoiding improper transactions rests with the individual.

Reporting Suspected Violations. If you are aware of a violation of this policy or the securities laws relating to insider trading, or believe a violation may occur, you should alert the General Counsel of the Company or, in his absence, the Deputy General Counsel, the Chief Financial Officer or the Chief Executive Officer of the Company. As outlined generally in the Company’s Code of Conduct, no retaliation against a person reporting violations hereunder will be tolerated.

image_5a.jpg

1.No Trading or Tipping on the Basis of Material Non-Public Information

    If a director or officer or any other employee is in possession of material non-public information regarding the Company, he or she may not trade directly or indirectly in the Company’s stock or disclose (“tip”) any such information to another person. Similarly, if a director or officer or any other employee is in possession of material, non-public information of any other publicly-held company (such as a vendor or client of the Company), he or she may not trade directly or indirectly in the securities of any such company or tip any such information to another person until such material information is disclosed publicly. Civil and criminal penalties may apply whether or not one derives any benefit from the actions of a person tipped by him or her.

    Compliance by Immediate Family - Each director, officer and other employee is responsible for compliance with this policy by his or her “immediate family,” which includes any spouse, child, stepchild, grandchild, grandparent, parent, brother, sister, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, aunt, uncle, and all adopted relatives, and by each member of his or her household (whether or not a family member).

Controlled Entities or Transactions – Each director, officer and other employee is also responsible for compliance with this policy by corporations, partnerships, trusts or other entities that he or she controls or whose transactions in Company stock he or she controls.

2. Preclearance Policy

    To help prevent inadvertent violations and avoid the appearance of improper transactions which could result, for example, when an officer, director or Key Employee engages in a trade while unaware of a pending major development, the Company has implemented the procedures outlined below for preclearance by each such person of all trades.

    All transactions in Company stock by directors, officers, and Key Employees must be precleared by the Chief Financial Officer or General Counsel. To initiate the preclearance process, a person contemplating a transaction should contact Bill Appleton in advance through e-mail (appleton@scripps.com) or by phone at (513) 977-3997. In his absence, you should contact Jason Combs in advance through e-mail (jason.combs@scripps.com) or by phone at (513) 977-3981.

Preclearance by the Company is not a defense if the individual who has been precleared to trade has material inside information unknown to the person who precleared his or her trade or who has such information when the person who precleared the trade believed in good faith that he or she did not have that information.

    Blackout-Periods. Because our quarterly financial results, when announced, may have a material effect on the market price of our stock, trading in the Company’s stock by directors, officers and Key Employees is prohibited during a black-out period beginning on the fifteenth day of the last of month of each fiscal quarter and ending two trading days after the Company’s quarterly earnings release.

    It is improper for an officer, director or Key Employee to trade in company stock immediately after the company has made a public announcement of material information, including a quarterly earnings release. Because the company’s shareholders and the investing public should be afforded the time to receive the information and act upon it, one may not engage in any transactions until the second business day after the day that information has been released. For example, if an announcement were made on a Monday, the first day on which one could trade is Wednesday.


Page 2 of 2


Pre-Arranged Trading Plans. Pre-arranged trading plans that comply with SEC Rule 10b5-1 are permitted but must be precleared in accordance with the pre-clearance procedure, as discussed above. Any modification or termination of such plans must be precleared and the Company, in its discretion, may place restrictions or other conditions on any modification or termination in order to further the purpose of this Policy.

Standing Orders. Standing orders, which are instructions to a broker to buy or sell Company stock at certain prices in the future, may result in a broker’s exercising a transaction when you are in possession of material non-public information since the broker controls the timing of the transaction under the order. For this reason, all standing orders (except standing orders under approved Rule 10b5-1 trading plans) may be used only for such period of time specifically allowed under the preclearance policy discussed above.

Employee Stock Purchase Plan. An officer or key employee may commence participation in this plan or increase or decrease the amount of money withheld from pay in connection with the plan, but must first be precleared.

Gifts. Stock gifts must be precleared and may not be made during a blackout period.

3. No Hedging or Pledging

Directors, officers and Key Employees are prohibited from (i) pledging shares of Class A common stock or derivatives thereof or (ii) purchasing financial instruments (including prepaid variable forward contracts, equity swaps, collars, and exchange funds) or engaging in transactions (including “short sales”) that, in either case, hedge or offset or are designed to hedge or offset any decrease in the market value of shares of Class A common stock or derivatives thereof.

4. Protecting Confidential Information

The disclosure by Company personnel of confidential information is prohibited, except as required in the performance of one’s regular duties. Special care must be taken to protect and maintain the integrity of confidential information.

5. Communications with the Media

    Only representatives designated by the Company may communicate on its behalf with the media and the investment community. If inquiry is made of you, refer the party making the inquiry to Carolyn Micheli, Vice President/Corporate Communications and Investor Relations.

image_6a.jpg
1.Material Information: Material information is any information that an investor would consider important in, or would give him or her an advantage in, deciding to buy, hold or sell securities of the Company. Any information that could reasonably affect the market price of Company stock is material. Examples of matters that may be material are financial results and trends, acquisitions or divestitures of businesses, joint ventures, dividend actions and stock splits, significant financing developments, the status of labor negotiations, and significant regulatory, litigation or contractual developments.

2.Non-public Information: Non-public information is any information that has not been disclosed generally to the marketplace.

image_7a.jpg

1.Why do we have an insider trading policy?

The E.W. Scripps Company is committed to its responsibilities under federal and state securities laws, and this policy enables our directors, officers and employees to gain a better understanding of, and comply with, such laws.

2.How do you initiate a preclearance request?

Page 3 of 3



Please contact Bill Appleton in advance through e-mail (appleton@scripps.com) or by phone at (513) 977-3997. In his absence, you should contact Jason Combs in advance through e-mail (jason.combs@scripps.com) or by phone at (513) 977-3981.
 
3.How do I know if I am a Key Employee?

If you are a Key Employee (and thus subject to the preclearance provisions of Section C.2 of this policy) you will be so informed by the Company. You will be made aware of your status annually, typically during the fourth quarter by e-mail.
 
4.May I enroll in the Employee Stock Purchase Plan or increase or decrease the amount of my pay that I allocate to that plan without first preclearing with Bill Appleton?

No, you may not. You must call Bill Appleton or in his absence, Jason Combs, because the preclearance policy applies to those potential actions.

Page 4 of 4

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/23/248-K
For Period end:12/31/23
2/21/22
5/22/97S-8
 List all Filings 


17 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/04/23  E.W. Scripps Co.                  10-Q        6/30/23   75:9.3M
 5/05/23  E.W. Scripps Co.                  10-Q        3/31/23   74:8.9M
 3/17/23  E.W. Scripps Co.                  DEF 14A               12:12M                                    ActiveDisclosure/FA
 2/24/23  E.W. Scripps Co.                  10-K       12/31/22  117:15M
 8/04/22  E.W. Scripps Co.                  8-K:5,9     8/02/22   14:571K
 5/17/21  E.W. Scripps Co.                  8-K:8,9     5/14/21   11:203K
 4/05/21  Scripps Eaton M                   SC 13D/A               2:1.4M E.W. Scripps Co.                  Donnelley … Solutions/FA
 1/08/21  E.W. Scripps Co.                  8-K:1,2,3,5 1/04/21   20:3.4M
12/30/20  E.W. Scripps Co.                  8-K:2,9    12/30/20   14:2.3M
 9/29/20  E.W. Scripps Co.                  8-K/A:9     9/23/20   13:1.4M
 9/25/20  E.W. Scripps Co.                  8-K:1,3,9   9/23/20   19:4.3M
 2/28/20  E.W. Scripps Co.                  10-K       12/31/19  124:19M
 7/31/19  E.W. Scripps Co.                  8-K:2,9     7/26/19    2:920K
11/03/17  E.W. Scripps Co.                  10-Q        9/30/17   75:7.1M
 5/14/08  E.W. Scripps Co.                  8-K:5,8,9   5/08/08    7:319K                                   Donnelley … Solutions/FA
 5/16/07  E.W. Scripps Co.                  8-K:5,9     5/10/07    3:57K                                    Donnelley … Solutions/FA
 2/15/05  E.W. Scripps Co.                  8-K:1,5,9   2/09/05    8:220K                                   Donnelley … Solutions/FA
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