Board Votes to Hold Annual Advisory Vote on Executive Compensation

Sinclair Broadcast Group, Inc. (the “Company”) (Nasdaq: SBGI) announced that its stockholders elected the nominated nine Directors at the Company’s Annual Stockholders’ Meeting held yesterday. 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 stockholders also ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023, and approved the non-binding advisory vote on executive compensation.

Though stockholders approved a three-year frequency, the Board of Directors considered the outcome of this vote and determined that the Company will hold an annual advisory vote on the compensation of the Company’s named executive officers, until the next required advisory vote on the frequency of the advisory vote on executive compensation. The annual frequency of the vote is in line with the highest corporate governance standards.

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. (Nasdaq: SBGI) is a diversified media company and a leading provider of local news and sports. The Company owns, operates and/or provides services to 185 television stations in 86 markets affiliated with all the major broadcast networks; owns Tennis Channel and multicast networks Comet, CHARGE! and TBD; and owns and provides services to 21 regional sports network brands. Sinclair’s content is delivered via multiple platforms, including over-the-air, multi-channel video program distributors, and the nation’s largest streaming aggregator of local news content, NewsON. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.

Category: Financial

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