National Cinemedia Inc SEC Filings

National CineMedia, Inc. reports that Catherine Sullivan, its President – Sales, Marketing and Partnerships, will step down from her role as of November 13, 2025 and leave the company on December 1, 2025 following the elimination of her position. Her departure will be treated as an “Involuntary Termination” under her employment agreement, making her eligible for severance equal to 100% of her base salary plus 100% of her target bonus, paid in equal installments over 12 months in exchange for a release of claims. The company states that her termination is not the result of any violation of company policy.

National CineMedia (NCMI) disclosed an insider transaction by its Chief Financial Officer. On 11/10/2025, the CFO executed an open‑market sale of 21,194 shares of common stock at an average price of $3.8898, with trade prices ranging from $3.81 to $3.95.

Following the sale, the officer beneficially owned 159,958 shares. The transaction was conducted pursuant to a Rule 10b5‑1 trading plan adopted on August 25, 2025.

National CineMedia (NCMI) reported a return to quarterly profitability. Revenue was $63.4 million, up slightly year over year, and operating loss narrowed to $1.8 million from $7.5 million. Net income reached $1.6 million versus a loss a year ago, aided by non‑operating items including re‑measurement of the tax receivable agreement.

For the first nine months, revenue was $150.0 million with a net loss of $39.9 million. Cash and cash equivalents were $29.9 million, and the company reported no long‑term debt after repaying and terminating its 2023 revolver. A new $45.0 million senior secured revolving credit facility was established in January 2025 with no borrowings outstanding at quarter‑end.

NCM updated its AMC relationship in April 2025, extending the exhibitor services agreement, waiving certain payments under the TRA, and adjusting consideration; the net effect reduced intangible assets and is expected to lower amortization expense over the remaining term. The company repurchased $18.8 million of stock year‑to‑date and declared a $0.03 per‑share dividend in the quarter. As of October 28, 2025, 93,831,167 common shares were outstanding.

National CineMedia, Inc. (NCMI) reported that it issued a press release announcing financial results for its fiscal third quarter ended September 25, 2025. The release is furnished as Exhibit 99.1.

The company states that the information provided under Item 2.02, including Exhibit 99.1, is furnished and not deemed filed pursuant to General Instruction B.2.

National CineMedia (NCMI) disclosed an initial Form 3 for a director dated 10/21/2025. The filing reports 27,144,639 shares of common stock beneficially owned on an indirect basis.

The ownership is through fund vehicles for which Blantyre Capital Limited serves as investment advisor. The reporting person disclaims beneficial ownership except to the extent of his pecuniary interest.

National CineMedia (NCMI) appointed Simon Mullaly to its Board of Directors, effective immediately, filling the vacancy created by the previously announced resignation of Nathan “Tripp” Lane. Mullaly was designated by Blantyre Capital under the Director Designation Agreement dated August 7, 2023.

The Board determined Mullaly is an independent director under Nasdaq rules. He has no disclosed family relationships or related‑party transactions. The company executed its standard director indemnification agreement with him. He has not yet been appointed to any Board committees.

Insider sale under 10b5-1 plan: The reporting person, Catherine Sullivan, President - Sales & Marketing at National CineMedia, Inc. (NCMI), reported an open-market sale of 734 shares of common stock on 10/03/2025 at a price of $4.3082 per share. The sale was made pursuant to a 10b5-1 trading plan adopted on 05/22/2025. Following the transaction the reporting person beneficially owns 25,737 shares, held directly. The Form 4 was signed by an attorney-in-fact on 10/06/2025.

Maria VG Woods, EVP - General Counsel of National CineMedia, Inc. (NCMI), reported transactions on 09/30/2025. She acquired 19,375 shares of common stock upon vesting of restricted stock units and subsequently sold 9,039 shares on the open market at a price of $4.4432 per share to satisfy tax withholding obligations. After these transactions Ms. Woods beneficially owned 118,998 shares of NCMI common stock. The Form 4 was signed by Laura Anne Kenwick as attorney-in-fact on 10/02/2025.

Catherine Sullivan, President - Sales & Marketing of National CineMedia, Inc. (NCMI), reported changes in her beneficial ownership on 09/30/2025. She took delivery of 4,771 shares upon vesting of restricted stock units and sold 1,835 shares on the open market to satisfy tax withholding at a sale price of $4.4432 per share. Following these transactions, she beneficially owns 28,306 shares of NCMI common stock. The filing was signed by an attorney-in-fact on 10/02/2025. The restricted stock units vested immediately and each RSU represents the right to one share.