Sinclair Elects Board and Ratifies Independent Auditor

Rhea-AI Summary

At Sinclair Broadcast Group's Annual Shareholders’ Meeting, shareholders elected nine Directors, including David D. Smith as Executive Chairman. The meeting also saw the ratification of PricewaterhouseCoopers, LLP as the independent registered public accounting firm for the 2022 fiscal year. Additionally, the shareholders approved the 2022 Stock Incentive Plan and amendments to the Company's Articles of Incorporation regarding the exculpation of officers and directors. Full voting results will be disclosed in a Current Report on Form 8-K.

Positive

• Election of nine directors provides strong governance structure.
• Ratification of PricewaterhouseCoopers, LLP enhances investor confidence.
• Approval of the 2022 Stock Incentive Plan may attract and retain talent.

Negative

• None.

BALTIMORE--(BUSINESS WIRE)-- Sinclair Broadcast Group, Inc. (the “Company”) (Nasdaq: SBGI) announced that its shareholders elected the nominated nine Directors at the Company’s Annual Shareholders’ Meeting held today. The elected Directors are Mr. David D. Smith, Executive Chairman, Chairman of the Board of the Company; Mr. Frederick G. Smith, Director and Vice President of the Company; Mr. J. Duncan Smith, Director, Vice President and Secretary of the Company; Mr. Robert E. Smith, Director; Ms. Laurie R. Beyer, Director; Dr. Benjamin S. Carson, Sr., Director; Mr. Howard E. Friedman, Director; Mr. Daniel C. Keith, Director; and Hon. Benson E. Legg, Director.

The shareholders also ratified the appointment of PricewaterhouseCoopers, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2022, approved the Company’s 2022 Stock Incentive Plan and approved the amendment to the Company’s Amended and Restated Articles of Incorporation to provide for the exculpation of directors and officers. A tabulation of the votes on these matters will be included in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission.

About Sinclair Broadcast Group, Inc.

Sinclair Broadcast Group, Inc. is a diversified media company and a leading provider of local sports and news. The Company owns and/or operates 21 regional sports network brands; owns, operates and/or provides services to 185 television stations in 86 markets; owns multiple national networks including Tennis Channel and Stadium; and has TV stations affiliated with all the major broadcast networks. Sinclair’s content is delivered via multiple platforms, including over-the-air, multi-channel video program distributors, and digital and streaming platforms NewsON and STIRR. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005912/en/

Steven Zenker, VP, Investor Relations

Billie-Jo McIntire, Director, Investor Relations

(410) 568-1500

Source: Sinclair Broadcast Group, Inc.

FAQ

What decisions were made at Sinclair Broadcast Group's Annual Shareholders’ Meeting?

Shareholders elected nine directors, ratified PricewaterhouseCoopers as the independent auditor, and approved the 2022 Stock Incentive Plan.

Who are the newly elected directors of Sinclair Broadcast Group?

The elected directors include David D. Smith, Frederick G. Smith, J. Duncan Smith, Robert E. Smith, Laurie R. Beyer, Benjamin S. Carson, Howard E. Friedman, Daniel C. Keith, and Benson E. Legg.

What was ratified regarding the accounting firm for Sinclair Broadcast Group?

Shareholders ratified the appointment of PricewaterhouseCoopers, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2022.

What amendments were approved at Sinclair Broadcast Group's Annual Meeting?

An amendment to the Company's Articles of Incorporation was approved to provide for the exculpation of directors and officers.