X0202 4/A 2006-01-05 2006-01-06 0 0000043196 GRAY TELEVISION INC GTN 0001196567 ROBINSON HARRIETT J 4370 PEACHTREE ROAD, NE ATLANTA GA 30319 1 0 0 0 Common Class (GTN) 80500 D Common Class A (GTN.A) 10400 D Common Class (GTN) 113950 I Spouse Common Class (GTN) 43750 I Trustee for Children Common Class A (GTN.A) 1062380 I Trustee for Children Common Class (GTN) 35000 I Delta Fire & Casualty Ins. Co. Common Class A (GTN.A) 33750 I Delta Fire & Casualty Ins. Co. Common Class (GTN) 10000 I Delta Life Ins. Co. Common Class A (GTN.A) 135795 I Delta Life Ins. Co. Common Class A (GTN.A) 221706 I Bankers Fidelity Life Ins. Co. Common Class (GTN) 6000 I Georgia Casualty & Surety Co. Common Class A (GTN.A) 132354 I Georgia Casualty & Surety Co. Common Class (GTN) 72000 I Associated Casualty Ins. Co. Common Class A (GTN.A) 22000 I Associated Casualty Ins. Co. Common Class (GTN) 50000 I American Southern Ins. Co. Common Class (GTN) 4628 I Spouse 401 K Plan Common Class A (GTN.A) 78100 I Gulf Capital Services, Ltd. Common Class A (GTN.A) 2006-01-05 4 P 0 4700 8.3455 A 483475 I Spouse Common Class A (GTN.A) 609840 D Option - Class A Common Stock (GTN.A) 17.81 2000-11-19 2008-11-19 GTN.A 10000 10000 I spouse Option - Common Stock (GTN) 12.50 2005-11-20 2008-11-20 GTN 40000 40000 I spouse Option - Common Stock (GTN) 10.95 2004-09-30 2007-09-30 GTN 110000 110000 I spouse Option - Common Stock (GTN) 11.23 2004-01-07 2007-01-07 GTN 67000 67000 I spouse Series C Pref Stock 14.39 2007-04-22 2012-04-22 GTN 37526 54 D Series C Pref Stock 14.39 2007-04-22 2012-04-22 GTN 25017 36 I Trustee for children Series C Pref Stock 14.39 2007-04-22 2012-04-22 GTN 25017 36 I Trustee for children Series C Pref Stock 14.39 2007-04-22 2012-04-22 GTN 121612 175 I Georgia Casualty and Surety Co. Series C Pref Stock 14.39 2007-04-22 2012-04-22 GTN 121612 175 I Bankers Fidelity Life Insurance Co. Series C Pref Stock 14.39 2007-04-22 2012-04-22 GTN 207088 298 I Delta Life Insurance Co. Series C Pref Stock 14.39 2007-04-22 2012-04-22 GTN 34746 50 I Delta Fire & Casualty Insurance Co. Option - Common Stock (GTN) 14.06 2005-05-19 2007-11-19 GTN 50000 50000 I Spouse Options-Common Stock (GTN) 11.10 2005-06-07 2010-06-07 GTN 125000 125000 I Spouse Shares are held in 401(k)account. This Form 4A amends an earlier Form 4 filed on January 6, 2006. In the earlier Form 4 the indirect "holding" for Gulf Capital Services, LTD was listed as 76,900 shares of GTNA when the actual holding was 78,100 shares of GTNA. In April of 2002, the Company issued Series C Preferred Stock to Mr. Robinson and certain of his affiliates in exchange for Series A and Series B Preferred Stock then held by Mr. Robinson. The Series C Preferred Stock is convertible into the Company's Common Stock ("GTN")at a conversion price of $14.39 per share. The Series C Preferred Stock is redeemable at the Company's option on or after April 22, 2007 and is subject to mandatory redemption on April 22, 2012 at a value of $10,000 per share. Each share of Series C Preferred Stock is convertible into a number of shares of common stock determined by dividing the liquidation preference ($10,000) by the conversion price ($14.39). This Form 4A amends an earlier Form 4 filed on January 6, 2006. In the earlier Form 4 the date in 3. Date of Earliest Transaction was 01/05/2005 when it should have been 01/05/2006. J. S. Cowart IV by power of attorney 2006-01-20