National CineMedia (NCMI) files Form 144 for 12,000-share sale from RSU vesting

Rhea-AI Filing Summary

Form 144 notice for National CineMedia, Inc. (NCMI) documents a proposed sale of 12,000 shares of common stock through Morgan Stanley Smith Barney LLC on or about 09/30/2025. The filer reports these shares were acquired on 09/30/2025 by restricted stock unit vesting and the acquisition is recorded as 19,375 shares received with compensation as the payment type. The filing lists the aggregate market value of the 12,000 shares as $57,000 and total shares outstanding as 93,718,031. The form also discloses a prior sale on 06/30/2025 of 9,038 shares for gross proceeds of $43,542.37. The notice includes the mandatory representation that the seller is not aware of undisclosed material adverse information.

Positive

• Clear compliance disclosure of an intended sale under Rule 144 with broker, amounts, and timing specified
• Securities source disclosed as restricted stock unit vesting with compensation noted
• Prior sale history provided (9,038 shares sold on 06/30/2025 for $43,542.37), aiding transparency

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine insider sale notice showing RSU vesting and planned disposition of a portion of vested shares; disclosure appears compliant.

The Form 144 documents a planned sale of 12,000 NCMI common shares via Morgan Stanley Smith Barney on 09/30/2025, sourced from RSU vesting on the same date. The filing provides key quantitative details: 12,000 shares to be sold, aggregate market value $57,000, 93,718,031 shares outstanding, and a recent sale of 9,038 shares producing $43,542.37. From an analytical perspective, this is a routine compliance filing that notifies the market of an intended sale by an affiliated person. The amounts disclosed are small relative to the company’s outstanding share count and therefore unlikely to be materially dilutive or market-moving on their own.

Corporate Governance Expert

TL;DR: Filing meets Rule 144 disclosure requirements; shows sale from compensation-related vesting rather than open-market purchases.

The notice indicates the securities to be sold were acquired through restricted stock unit vesting and the nature of payment is listed as compensation. The filing includes the seller’s sworn statement regarding lack of undisclosed material adverse information. The presence of a prior sale on 06/30/2025 is disclosed, fulfilling the three-month historical sales disclosure requirement. No details about the filer’s relationship to the issuer are provided in the table, and the filing does not state any trading-plan adoption dates; therefore, governance-related context beyond the mechanics of the sale is not available from this document.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Morgan Stanley Smith Barney LLC 1 New York Plaza 8th Floor New York NY 10004	12000	57000	93718031	09/30/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	09/30/2025	Restricted Stock Unit Vesting	Issuer			19375	09/30/2025	Compensation*

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Maria VG. Woods 6300 S. Syracuse Way Suite 300 Centennial CO 80111	Common Stock	06/30/2025	9038	43542.37

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 for NCMI report?

The form reports a proposed sale of 12,000 shares of NCMI common stock via Morgan Stanley Smith Barney on or about 09/30/2025.

How were the shares being sold acquired according to the filing?

The shares were acquired on 09/30/2025 through restricted stock unit vesting, with 19,375 shares recorded as acquired and payment characterized as compensation.

What is the aggregate market value and outstanding share count noted?

The aggregate market value for the 12,000 shares is listed as $57,000 and the number of shares outstanding is 93,718,031.

Did the filer disclose recent sales of the issuer's securities?

Yes. The filing discloses a sale on 06/30/2025 of 9,038 shares for gross proceeds of $43,542.37.

Which broker is handling the proposed sale?

The broker named is Morgan Stanley Smith Barney LLC, address 1 New York Plaza 8th Floor New York NY 10004.