Saga Communications (SGA) Proxy Filing summary

Executive summary

• Provided a strategic update ahead of the March 11, 2025 earnings call and annual meeting, emphasizing ongoing execution of a strategic plan focused on digital, e-commerce, and non-traditional revenue streams.

• Owns and operates 82 FM, 31 AM radio stations, and 79 metro signals across 28 markets, with a commitment to community impact and shareholder value.

• Recent actions include cost alignment, digital strategy prioritization, and evaluation of non-core asset sales and stock repurchases.

• Largest shareholder, TowerView LLC, supports the current strategic direction and is represented on the board.

• Forward-looking statements highlight risks such as economic conditions, competition, regulatory changes, and technological advances.

Voting matters and shareholder proposals

• Gate City Capital Management nominated four candidates for board election at the 2025 Annual Meeting.

• The board will evaluate these nominations and provide recommendations in the upcoming proxy statement.

• Shareholders are advised to await the proxy statement for voting instructions and further information.

Board of directors and corporate governance

• Ongoing board refreshment includes recruiting a new member with digital marketing expertise.

• Board and management collaborate closely on long-term strategy execution.

• Board composition includes representation from the largest shareholder and a mix of relevant experience.