Sinclair Elects Board and Ratifies Independent Auditor

Rhea-AI Summary

Sinclair Broadcast Group (Nasdaq: SBGI) held its Annual Shareholders' Meeting, where shareholders elected ten Directors, including Executive Chairman David D. Smith. The meeting also ratified PricewaterhouseCoopers as the independent accounting firm for fiscal year 2021 and approved amendments to the Employee Stock Purchase Plan and the Long-Term Incentive Plan to increase share issuance. A detailed vote tabulation will be submitted in a Current Report on Form 8-K.

Positive

• Election of ten Directors strengthens governance structure.
• Ratification of PricewaterhouseCoopers enhances audit reliability.
• Approval of amendments allows for increased share issuance, potentially benefitting employee incentives.

Negative

• None.

Sinclair Broadcast Group, Inc. (the “Company”) (Nasdaq: SBGI) announced that its shareholders elected the nominated ten 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; Mr. Howard E. Friedman, Director; Mr. Daniel C. Keith, Director; Mr. Martin R. Leader, Director; Hon. Benson E. Legg, Director; and Mr. Lawrence E. McCanna, 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, 2021, approved the amended and restated Employee Stock Purchase Plan and approved an amendment to the Company's 1996 Long-Term Incentive Plan to increase the number of shares authorized for issuance thereunder. 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 is a diversified media company and 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; is a leading local news provider in the country; owns multiple national networks; 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 platforms. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.

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FAQ

What happened at Sinclair Broadcast Group's Annual Shareholders' Meeting?

At the Annual Shareholders' Meeting, shareholders elected ten Directors and ratified PricewaterhouseCoopers as the independent accounting firm for fiscal year 2021.

Who were the Directors elected at the meeting for SBGI?

The elected Directors include David D. Smith, Frederick G. Smith, J. Duncan Smith, Robert E. Smith, Laurie R. Beyer, Howard E. Friedman, Daniel C. Keith, Martin R. Leader, Benson E. Legg, and Lawrence E. McCanna.

What amendments were approved during the SBGI shareholders' meeting?

Shareholders approved amendments to the Employee Stock Purchase Plan and the Long-Term Incentive Plan to increase the number of shares authorized for issuance.