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EQUITY-BASED COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2024
STOCK-BASED COMPENSATION PLANS:  
Schedule of Changes in Unvested Restricted Stock
The following is a summary of changes in unvested restricted stock:
 RSAsWeighted-Average Price
Unvested shares at December 31, 2023918,467 $21.04 
2024 Activity:  
Granted1,339,603 13.32 
Vested(866,190)13.76 
Forfeited (a)(13,589)13.87 
Unvested shares at December 31, 20241,378,291 $18.18 
 (a) Forfeitures are recognized as they occur.
Schedule of SARS Activity
The following is a summary of the 2024 activity: 
 SARsWeighted-Average Price
Outstanding SARs at December 31, 20234,744,680 $25.75 
2024 Activity:  
Granted3,625,160 13.31 
Outstanding SARs at December 31, 20248,369,840 $20.36 
Schedule of Assumptions Used to Estimate the Value of Stock Options Under ESPP
Valuation of SARS. Our SARs were valued using the Black-Scholes pricing model utilizing the following assumptions:
 202420232022
Risk-free interest rate4.1 %
4.4%
1.6%
Expected years to exercise5 years5 years5 years
Expected volatility58.8 %52.1 %49.6 %
Annual dividend yield7.8 %
6.8%
3.0%
Schedule of Changes in Outstanding Options
The following is a summary of changes in outstanding options:

 OptionsWeighted-Average Price
Outstanding options at December 31, 2023375,000 $31.25 
2024 Activity:
Expired(125,000)27.36 
Outstanding options at December 31, 2024250,000 $33.20 
Sinclair Broadcast Group, LLC  
STOCK-BASED COMPENSATION PLANS:  
Schedule of Changes in Unvested Restricted Stock
The following is a summary of changes in unvested restricted stock:
 RSAsWeighted-Average Price
Unvested shares at December 31, 2023834,158 $21.62 
2024 Activity:
Granted1,322,688 13.32 
Vested(826,771)13.74 
Forfeited (a)(13,018)13.86 
Unvested shares at December 31, 20241,317,057 $18.31 

(a) Forfeitures are recognized as they occur.
Schedule of SARS Activity
The following is a summary of the 2024 activity:
 SARsWeighted-Average Price
Outstanding SARs at December 31, 20234,744,680 $25.75 
2024 Activity:
Granted3,625,160 13.31 
Outstanding SARs at December 31, 20248,369,840 $20.36 
Schedule of Assumptions Used to Estimate the Value of Stock Options Under ESPP
Valuation of SARS. Our SARs were valued using the Black-Scholes pricing model utilizing the following assumptions:
 202420232022
Risk-free interest rate4.1 %4.4 %1.6 %
Expected years to exercise5 years5 years5 years
Expected volatility58.8 %52.1 %49.6 %
Annual dividend yield7.8 %6.8 %3.0 %
Schedule of Changes in Outstanding Options
The following is a summary of changes in outstanding options:

OptionsWeighted-Average Price
Outstanding options at December 31, 2023375,000 $31.25 
2024 Activity:
Expired(125,000)27.36 
Outstanding options at December 31, 2024250,000 $33.20