{
  "id": 19428280,
  "title": "Sinclair director Robert E. Smith sells $2.73M Class A shares",
  "url": "https://urgent.news/2026/11/11/sinclair-director-robert-e-smith-sells-2-73m-class-a-shares",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-11T01:35:49.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/insider-trading-news/sinclair-director-robert-e-smith-sells-273m-class-a-shares-93CH-5017482"
  },
  "original_language": "en",
  "account": "On November 6, 2026, Sinclair, Inc. Director and 10% Owner Robert E. Smith sold 150,000 shares of the company's Class A Common Stock. The transaction resulted in a total of $2,727,899, with individual share prices ranging from $13.5919 to $13.6575. Since the sale, the stock has increased to $15.10, trading close to InvestingPro's Fair Value estimation.\n\nAs part of the same transaction, Smith converted 85,192 shares of Class B Common Stock into an equivalent number of Class A Common Stock, without any additional compensation. Following these actions, Smith no longer owns any Class A Common Stock directly, having previously held them in various accounts. However, he still possesses other beneficial holdings, including 1,070.60 shares of Class A Common Stock in a 401(k) fund, 79,803.5 shares held directly, 121,750 shares of Class B Common Stock in an irrevocable trust for relatives, and 4,000 shares of Class A Common Stock within family accounts.\n\nDespite this significant sale of Class A Common Stock, Sinclair Broadcast Group recently outperformed Wall Street's expectations for the third quarter of 2026. The company reported adjusted earnings of $0.60 per share, surpassing the previously anticipated $0.29 per share. Additionally, revenue for the quarter amounted to $893 million, exceeding the forecasted $872.9 million. This impressive financial performance was driven by a surge in political advertising and enhanced operating leverage, indicating effective cost management and higher-margin revenue streams.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}