SAGA COMMUNICATIONS INC — Director's Dealing 2017

May 9, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SAGA COMMUNICATIONS INC (SGA)
CIK: 0000886136
Period of Report: 2017-05-08

Reporting Person: Stephens David B (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-08	Class A Common Stock	D	594	—	Disposed	3932	Direct

Footnotes

F1: Forfeiture of unvested restricted stock scheduled to vest in one-third increments on November 6, 2018 and 2019 because reporting person is no longer a director as of May 8, 2017. Unvested restricted stock scheduled to vest in one-third increments on November 6, 2017 became fully vested as of May 5, 2017.