Welcome to our dedicated page for Saga Coms SEC filings (Ticker: SGA), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page provides access to Saga Communications, Inc. (Nasdaq: SGA) filings with the U.S. Securities and Exchange Commission, along with AI-powered tools to help interpret the disclosures. Saga is a Florida corporation devoted to acquiring, developing, and operating broadcast properties, with a business that includes radio, digital, e‑commerce, local on-line news, and non-traditional revenue initiatives across 28 markets.
In its current reports on Form 8‑K, Saga discloses material events such as quarterly and year-to-date financial results, declarations of quarterly cash dividends on its Class A Common Stock, stock repurchase transactions, amendments to its bylaws, and asset transactions like the sale of telecommunications tower sites combined with long-term antenna site leases. These filings also identify Saga’s jurisdiction of incorporation, Commission File Number, and IRS Employer Identification Number.
Saga’s earnings-related 8‑K filings are accompanied by press releases that present net operating revenue, station operating expense, operating income or loss, net income or loss, capital expenditures, and selected balance sheet data. The company also reports non-GAAP financial measures, including station operating income, same station financial information, pro forma financial information, trailing twelve-month consolidated EBITDA, and leverage ratio, and provides reconciliations to the most directly comparable GAAP measures in attached supplemental financial data tables.
On this SEC filings page, you can review Saga’s 8‑K disclosures and other available filings as they are updated from EDGAR. AI-generated summaries highlight key points in each document, explain the significance of items such as dividend declarations, stock buybacks, asset sales, and bylaw amendments, and clarify how Saga’s non-GAAP metrics relate to its GAAP results. This helps investors and researchers quickly understand the main implications of each filing without reading every line of the underlying documents.
Saga Communications is asking shareholders to vote at its fully virtual 2026 annual meeting on June 1, 2026. Shareholders will elect seven directors, ratify Crowe LLP as independent auditor for 2026, and cast an advisory vote on named executive officer pay.
The board remains majority independent and has formal committees for audit, compensation, nominating/governance, and a Cybersecurity Subcommittee formed in 2023. As of April 6, 2026, 6,363,968 Class A shares were outstanding, with TowerView LLC and the Edward K. Christian Trust among the largest holders.
In 2025, the CEO earned total compensation of $1.43 million, primarily salary, bonus, and restricted stock, while other named executives received mix of salary, smaller bonuses, and equity. Non‑employee directors received annual cash retainers of $72,000 plus stock awards of about $53,000, and Crowe LLP billed $470,500 in 2025 audit and related fees.
Saga Communications, Inc. reported that Chief Executive Officer Christopher S. Forgy has resumed all regular duties and responsibilities after a temporary medical leave. The company previously disclosed on February 13, 2026 that he began an indefinite medical leave to recover from open heart surgery.
During his recovery, Mr. Forgy remained available for consultation on significant matters, returned initially on a part-time basis, and led the company’s 4th Quarter and Year-End 2025 conference call on March 12, 2026. While he was away, the executive team, led by Chief Operating Officer Wayne Leland and Chief Financial Officer Samuel D. Bush, maintained continuity of operations.
Saga Communications, Inc. filed its annual report describing a radio and digital media business focused on mid-sized U.S. markets. As of February 28, 2026, it owned eighty-two FM stations, thirty AM stations and seventy-nine metro signals across twenty-eight markets.
Advertising remains the main revenue driver. For the year ended December 31, 2025, local advertising generated about $102,984,000, or 91% of gross revenue, while national advertising contributed about $10,423,000. Digital services, including search, display, streaming and social campaigns, produced about $16,947,000, or 15% of gross revenue, with both local and national digital shares increasing versus 2024.
The company highlights risks from economic cycles, inflation, supply-chain disruptions, geopolitical conflicts and health or natural disasters that can reduce advertisers’ budgets. It also details extensive FCC regulation, ownership limits and evolving rules around foreign ownership, political advertising, emergency alerts and new technologies such as HD radio, FM translators and geo-targeted boosters. As of December 31, 2025, Saga reported approximately $5,000,000 in long-term debt and employed about 580 full-time and 199 part-time staff.
Saga Communications, Inc. notified the SEC it cannot timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025 by the prescribed due date of March 31, 2026. The company needs additional time to analyze technical tax matters and accounting impacts related to a sale-leaseback transaction disclosed on October 20, 2025, and expects to file within the fifteen calendar day extension under Rule 12b-25. The filing was signed on April 1, 2026 by Samuel D. Bush, CFO.
Saga Communications reported weaker results for the quarter and year ended December 31, 2025, driven by an impairment charge and softer advertising. Q4 net revenue fell 9.3% to $26.5 million, while digital revenue grew 25.8% to $4.3 million. The quarter swung to an operating loss of $9.5 million and a net loss of $6.9 million, versus prior-year profits.
For 2025, net revenue declined 5.1% to $107.1 million and net loss was $7.9 million versus net income of $3.5 million in 2024, largely due to a $20.4 million impairment of goodwill and FCC licenses and a $2.2 million retroactive music licensing settlement. The company monetized 24 towers, recording an $11.6 million gain on total proceeds of $15.1 million, repurchased 219,326 shares for $2.5 million, paid quarterly dividends of $0.25 per share and ended 2025 with $31.8 million in cash and short-term investments.
Saga Communications Inc. insider Edward K. Christian Trust, identified as a more than 10% owner, reported an open-market sale of 5,665 shares of Class A Common Stock on February 25, 2026. The shares were sold at a weighted average price of $12.0654 per share, with individual trades executed between $12.00 and $12.27. After this transaction, the trust still directly holds 881,044 shares of Saga Communications Inc. common stock.
SGA reported a Form 144 notice for the sale of 5665 shares of Class A Common by Edward K Christian.
The filing, dated 02/25/2026, notes the shares were a Distribution from a Trust or an Estate on 08/19/2022. The notice lists the holder and proposed amount to be sold; timing and sale method details are per the Form 144 filing.
Saga Communications, Inc. received an amended Schedule 13G showing that several related holders report significant passive stakes in its Class A Common Stock. The Edward K. Christian Trust beneficially owns 886,709 shares, representing 13.8% of the class based on 6,439,921 shares outstanding as of November 3, 2025.
Michael L. Dallaire, as co-trustee, is reported to share voting and dispositive power over the same 886,709 shares and is also listed with a 13.8% beneficial stake. Judith A. Christian is reported with 890,250 shares in total, or 13.8%, including 3,541 shares held in an IRA. The filers certify the shares are not held to change or influence control of Saga Communications.
Saga Communications, Inc. reported that Chief Executive Officer Christopher S. Forgy has begun a temporary medical leave of absence starting on February 13, 2026, with an indefinite recovery period. The company expects Mr. Forgy to remain available for consultation on significant matters while he recovers. The Board has designated Chief Operating Officer Wayne Leland and Chief Financial Officer Samuel D. Bush to assist with the CEO’s responsibilities until he returns from medical leave, providing interim leadership coverage across operations and finance.