TEGNA INC — Director's Dealing 2011

Feb 25, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GANNETT CO INC /DE/ (GCI)
CIK: 0000039899
Period of Report: 2011-02-23

Reporting Person: Lougee David T (Pres/Broadcasting Division)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-25	Common Stock	M	21250	$3.75	Acquired	29572	Direct
2011-02-25	Common Stock	S	21250	$16.2452	Disposed	8322	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-23	Employee Stock Option (Right to Buy)	$16.23	A	69000	Acquired	2019-02-22	Common Stock (69000)	Direct
2011-02-25	Employee Stock Option (Right to Buy)	$3.75	M	21250	Disposed	2017-02-24	Common Stock (21250)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	702.73	Indirect

Footnotes

F1: The option vests in four equal annual installments beginning on February 23, 2012.

F2: The price reported in Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $16.15 to $16.30, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

F3: The option vested as to 21,250 shares on each of February 25, 2010 and February 25, 2011 and vests as to the remaining shares in two equal annual installments beginning on February 25, 2012.