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Filing Details

Accession Number:: 0001225208-10-011053
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-04-27 13:00:00
Reporting Period:: 2010-04-23

Filing Date:: 2010-04-27
Accepted Time:: 2010-04-27 15:19:07
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1232241	Journal Communications Inc	JRN	Newspapers: Publishing Or Publishing & Printing (2711)	200020198

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1235541	Hill Mary Leahy	Journal Communications, Inc. 333 W. State St. Milwaukee WI 53203	* (See Title Noted Below)	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Acquisiton	2010-04-23	17,195	$0.00	17,195	No	4	C	Direct
Class A Common Stock	Disposition	2010-04-26	17,195	$6.15	0	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Class B Common Stock	Disposition	2010-04-23	17,195	$0.00	17,195	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
84,772			No	4	C	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Class B Common Stock	Stock Appreciation Right	$13.31	2017-02-16	42,000	42,000	Direct
Class B Common Stock	Stock Appreciation Right	$0.00	2017-02-16	15,000	15,000	Direct
Class B Common Stock	Stock Appreciation Right	$7.57	2018-02-15	43,000	43,000	Direct
Class B Common Stock	Stock Appreciation Right	$0.00	2018-02-15	22,000	22,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2017-02-16	42,000	42,000	Direct
2017-02-16	15,000	15,000	Direct
2018-02-15	43,000	43,000	Direct
2018-02-15	22,000	22,000	Direct

Footnotes

The price in Column 4 is a weighted average price. The prices actually received ranged from $6.1322 to $6.1727. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.
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.
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 vests and becomes exercisable in three equal annual installments on February 15, 2009, 2010 and 2011.
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.