NEXSTAR MEDIA GROUP, INC. 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Prices; Record Holders and Dividends Our common stock trades on The NASDAQ Global Select Market (“NASDAQ”) under the symbol “NXST.” As of February 26, 2026, there were 256 shareholders of record of our common stock. This number does not include beneficial owners whose shares are held in street name by banks, brokers or other nominee holders. Pursuant to our current dividend policy, our board of directors declared in 2025, 2024 and 2023 total annual cash dividends of $7.44 per share, $6.76 per share and $5.40 per share, respectively, with respect to outstanding shares of our common stock. The dividends were paid in equal quarterly installments. On January 30, 2026, our board of directors declared a quarterly cash dividend of $1.86 per share on our outstanding common stock payable on February 27, 2026 to stockholders of record on February 13, 2026. Dividend determinations will depend upon, among other things, our future operations and earnings, targeted future acquisitions, capital requirements and surplus, general financial condition, contractual restrictions and other factors as our board of directors may deem relevant. Additionally, the Company’s senior secured credit facilities and the indentures governing Nexstar’s existing notes limit our ability to pay dividends. Given these considerations, our board of directors may increase or decrease the amount of dividends at any time and may also decide to suspend or discontinue the payment of cash dividends in the future. Recent Sales of Unregistered Securities None. Issuer Purchases of Equity Securities There was no common stock repurchased during the quarter ended December 31, 2025. As of December 31, 2025, the remaining available amount under the share repurchase authorization was $1.4 billion. Share repurchases are executed from time to time in open market transactions, block trades or in private transactions, including through Rule 10b5-1 and 10b-18 plans. There is no minimum number of shares that Nexstar is required to repurchase. The repurchase program does not have an expiration date and may be suspended or discontinued at any time without prior notice. Securities Authorized for Issuance Under Equity Compensation Plans as of December 31, 2025 Number of securities Number of securities to be issued upon Weighted average remaining available exercise of outstanding exercise price of for future issuance options and vesting of outstanding excluding securities Plan Category restricted stock units options reflected in column (a) (a) (b) (c) Equity compensation plans approved by security holders (1) 950,297 $ - 664,860 Equity compensation plans not approved by security holders - - - 950,297 664,860 (1) The 950,297 securities to be issued consist of time-based and performance-based restricted stock units. For a more detailed description of our equity plans and grants, we refer you to Note 13 to the Consolidated Financial Statements included in Part IV, Item 15(a) of this Annual Report on Form 10-K. 30 Comparative Stock Performance Graph The following graph compares the total return of our common stock based on closing prices for the period from December 31, 2020 through December 31, 2025 with the total return of the NASDAQ Composite Index and our peer index of comparable television companies. Our peer group index consists of the following publicly traded companies: Gray Media, Inc., TEGNA Inc., Sinclair, Inc., The E.W. Scripps Company, Fox Corporation and Paramount Skydance Corporation. The graph assumes the investment of $100 in our common stock and in both of the indices on December 31, 2020, with the reinvestment of dividends into shares of our common stock or the indices, as applicable. The performance shown is not necessarily indicative of future performance. 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 Nexstar Media Group, Inc. (NXST) $ 100.00 $ 140.94 $ 166.73 $ 154.28 $ 161.95 $ 217.02 NASDAQ Composite Index $ 100.00 $ 122.18 $ 82.43 $ 119.22 $ 154.48 $ 187.14 Peer Group $ 100.00 $ 101.70 $ 75.12 $ 67.92 $ 82.94 $ 113.15 Item 6. Reserved 31