Saga Communications, Inc. Announces Overwhelming Stockholder Approval of the Second Amended and Restated Saga Communications, Inc. 2005 Incentive Compensation Plan
GROSSE POINTE FARMS, Mich., Oct. 18, 2013 /PRNewswire/ -- Saga Communications, Inc. (NYSE MKT: SGA) today reported that its stockholders overwhelmingly approved the Second Amended and Restated Saga Communication, Inc. 2005 Incentive Compensation Plan (the "Plan"). The Plan was approved by 98% of the voting power of the votes cast (with each share of Class A entitled to one vote and each share of Class B entitled to ten votes). 94% of the voting power of all of Saga's outstanding shares of Class A and Class B Common Stock approved the Plan. Of the 4,890,218 outstanding shares of Class A Common Stock, 4,111,293 shares or 96% of the votes cast (84% of all of the outstanding Class A shares) voted to approve the Plan.
Saga is a broadcasting company whose business is devoted to acquiring, developing and operating broadcast properties. Saga owns or operates broadcast properties in 25 markets, including 61 FM and 30 AM radio stations, 3 state radio networks, 2 farm radio networks, 4 television stations and 4 low-power television stations. For additional information, contact us at (313) 886-7070 or visit our website at www.sagacommunications.com.
SOURCE Saga Communications, Inc.