It appears that after a very strong 2021, Gray Television is handing out some free company stock to the employees.

Sadly, it appears that the Meredith employees that become Gray employees when Gray took over Meredith will not be in on the free stock giveaway.

Here is the internal memo that Gray sent to the staff and was obtained by FTVLive:

Fellow Gray Employees,

 We are thrilled to report that, based on Gray Television’s 2021 financial performance, the Company has made an additional discretionary profit-sharing contribution of over $7 million to the 401(k) accounts of eligible employees.  We made this contribution yesterday in shares of Gray’s Common Stock (GTN).

 This additional profit-sharing contribution is made in addition to the Company’s contributions that are routinely made throughout the year as part of our program to match employee’s own 401(k) contributions.

 In particular, we are making discretionary profit-sharing contributions to the 401(k) accounts of all active employees as of 12/31/2021 who were hired, rehired or joined us through an acquisition prior to 12/1/2020 and who worked 1,000 hours or more hours for Gray in 2021.  Individual amounts are based on the participant’s pay and years of benefit service.  The profit-sharing stock allocation vests after three years of service.  If you already have three years of service in the 401(k) plan, your individual amount vested immediately.   

 To view the amount of your additional profit-sharing contribution, you can today log in to EmpowerMyRetirement, click on “Account,” and then click on “Transaction History” for recent activity.  If you have questions about this announcement, you may contact benefits@gray.tv.  If you have questions generally about the 401(k) Plan, please call Empower at 1-800-338-4015 or visit EmpowerMyRetirement.

 It is truly an exciting time to be a part of Gray!  

 Thank you again for all of your efforts.

 Gray’s Senior Leadership