X0306 4 2014-02-17 0 0001232241 JOURNAL COMMUNICATIONS INC JRN 0001311299 BRENNER ELIZABETH JOURNAL COMMUNICATIONS, INC. 333 W. STATE STREET MILWAUKEE WI 53203 0 1 0 0 Executive Vice President Class A Common Stock 1767.0000 D Class B Common Stock 2014-02-17 4 F 0 4226 8.87 D Class A Common Stock 4226 206669 D Performance Units Class B Common Stock 12243 12243 D Performance Units Class B Common Stock 13900 13900 D Stock Appreciation Right 13.3100 2017-02-16 Class B Common Stock 65000 65000 D Stock Appreciation Right 2017-02-16 Class B Common Stock 20000 20000 D Stock Appreciation Right 2018-02-15 Class B Common Stock 39000 39000 D The Class B Common Stock is convertible into Class A Common Stock (subject to certain limitations specified in the Issuer's Amended and Restated Articles of Incorporation) on a 1-for-1 basis at no cost. Reflects payment of tax liability by withholding shares of stock incident to vesting of restricted stock previously issued. Includes 155 shares acquired under the Journal Communications, Inc. Employee Stock Purchase Plan on December 31, 2013. Performance units granted March 11, 2013 to the reporting person under the Journal Communications, Inc. 2007 Omnibus Incentive Plan. The performance units vest in 2016 if the performance target is achieved. Performance units granted March 19, 2012 to the reporting person under the Journal Communications, Inc. 2007 Omnibus Incentive Plan. The performance units vest in 2014 if the performance target is achieved. The stock appreciation right was granted February 16, 2007 to the reporting person under the Journal Communications, Inc. 2003 Equity Incentive Plan. The stock appreciation right vests and becomes exercisable in three equal annual installments on February 16, 2008, 2009 and 2010. The stock appreciation right has an escalating base value which starts with $13.31, the closing price of the Company's Class A Common Stock on the date of grant, and increases by 6% per year for each year that the stock appreciation right remains outstanding, starting on the first anniversary of the grant date. The stock appreciation right was granted February 15, 2008 to the reporting person under the Journal Communications, Inc. 2007 Omnibus Incentive Plan. The stock appreciation right has an escalating base value which starts with $7.57, the closing price of the Company's Class A Common Stock on the date of grant, and increases by 6% per year for each year that the stock appreciation right remains outstanding, starting on the first anniversary of the grant date. The stock appreciation right vested and became exercisable in three equal annual installments on February 15, 2009, 2010 and 2011. /s/ Russell E. Ryba, Attorney-in-Fact for Elizabeth Brenner 2014-02-19