[Form 4] AMC Networks Inc. Insider Trading Activity

Rhea-AI Filing Summary

Charles F. Dolan 2009 Revocable Trust reported multiple disposals of AMC Networks Inc. (AMCX) Class B common stock on 09/08/2025. The filings show several transactions converting or transferring blocks of Class B shares into Class A equivalents and reducing the Trust's beneficial ownership in steps from 727,608 to 0 Class A-equivalent shares after the final reported transfer. The Trust states these Class B shares are convertible on a share-for-share basis into Class A common stock and that the transfers were made as partial repayment of promissory notes. For the repayment the shares were valued at $7.72 per share, the mean of the high and low trading price for Class A common stock on that date.

Positive

• Transparency: The Form 4 discloses specific transaction dates, share counts, and the valuation method used ($7.72 per share).
• Clear purpose: Transfers are explicitly labeled as partial repayment of promissory notes rather than ambiguous transfers.

Negative

• Significant reduction in insider ownership: Beneficial ownership of Class A-equivalent shares falls to 0 by the final reported line, representing a complete reported exit by the Trust in these lines.
• Concentration risk change: The Trustee-authorized transfers materially change the trust's stake, which could alter voting influence and perceived insider alignment.

Insights

Securities Analyst

TL;DR: Multiple insider disposals on 09/08/2025 reduced the Trust's beneficial holdings to zero via share transfers used to repay debt.

The pattern shows repeated transfers of Class B shares converted to Class A-equivalent amounts and reported as disposals under Form 4 code J, indicating transfers in connection with obligations rather than open-market sales. The stated valuation of $7.72 per share is explicitly tied to that day's mean trading price for Class A shares. These are material insider transactions because they fully eliminate the Trust's reported beneficial ownership by the final line in the table, which investors may view as a notable change in insider holdings.

Corporate Governance Expert

TL;DR: Trustee-signed Form 4 documents repayment-driven transfer of convertible Class B shares, reflecting a governance-related ownership shift.

The Form 4 is signed by the Trustee and discloses that transfers were executed to partially repay promissory notes, not as ordinary disposals. The conversions and stepwise reductions in beneficial ownership are clearly recorded, with the form indicating the Class B shares' convertibility to Class A on a one-for-one basis. This transaction alters the insider ownership profile and should be considered a governance event because it changes voting and economic ownership stakes disclosed by the trust.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Charles F. Dolan 2009 Revocable Trust

(Last) (First) (Middle)

C/O DOLAN FAMILY OFFICE

340 CROSSWAYS PARK DRIVE

(Street)

WOODBURY NY 11797

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AMC Networks Inc. [ AMCX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of 13(d) Group

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Common Stock	(1)	09/08/2025		J(2)			145,521	(1)	(1)	Class A Common Stock	145,521	(2)	727,608	D
Class B Common Stock	(1)	09/08/2025		J(2)			145,522	(1)	(1)	Class A Common Stock	145,522	(2)	582,086	D
Class B Common Stock	(1)	09/08/2025		J(2)			145,521	(1)	(1)	Class A Common Stock	145,521	(2)	436,565	D
Class B Common Stock	(1)	09/08/2025		J(2)			145,522	(1)	(1)	Class A Common Stock	145,522	(2)	291,043	D
Class B Common Stock	(1)	09/08/2025		J(2)			145,522	(1)	(1)	Class A Common Stock	145,522	(2)	145,521	D
Class B Common Stock	(1)	09/08/2025		J(2)			119,327	(1)	(1)	Class A Common Stock	119,327	(2)	26,194	D
Class B Common Stock	(1)	09/08/2025		J(2)			26,194	(1)	(1)	Class A Common Stock	26,194	(2)	0	D

Explanation of Responses:

1. AMC Networks Inc. Class B Common Stock ("Class B Common Stock") is convertible at the option of the holder on a share for share basis into AMC Networks Inc. Class A Common Stock ("Class A Common Stock").

2. On September 8, 2025, the Reporting Person transferred the shares of Class B Common Stock in partial repayment of promissory notes. For purposes of the repayment, the shares were valued at $7.72 per share, the mean of the high and low trading price for the Class A Common Stock on September 8, 2025.

	CHARLES F. DOLAN 2009 REVOCABLE TRUST By: /s/ Paul J. Dolan, Trustee	09/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did the Charles F. Dolan 2009 Revocable Trust report on Form 4 for AMCX?

The Trust reported multiple transfers of AMC Networks Class B common stock on 09/08/2025 that were recorded as disposals (code J) and converted to Class A-equivalent shares.

Why were the AMCX shares transferred by the Trust on 09/08/2025?

The Form 4 states the shares were transferred in partial repayment of promissory notes using a per-share valuation of $7.72.

How many AMCX shares remained beneficially owned after the reported transactions?

The sequence of reported post-transaction beneficial ownership amounts shows reductions from 727,608 to 0 Class A-equivalent shares across the reported lines.

What price was used to value the transferred AMCX shares?

The shares were valued at $7.72 per share, the mean of the high and low trading price for AMCX Class A common stock on 09/08/2025.

Who signed the Form 4 for the Charles F. Dolan 2009 Revocable Trust?

The Form 4 is signed by /s/ Paul J. Dolan, Trustee with the signature date of 09/10/2025.