National CineMedia (NCMI) Files Form 144 for RSU-Based Sale of 42,000 Shares

Rhea-AI Filing Summary

National CineMedia, Inc. (NCMI) notice reports a proposed sale of 42,000 shares of common stock through Morgan Stanley Smith Barney with an aggregate market value of $199,500, scheduled approximately for 09/30/2025. The securities to be sold were acquired on 09/30/2025 through restricted stock unit vesting (77,500 shares) and were treated as compensation. The filer also disclosed three sales by Thomas F. Lesinski in the past three months totaling 78,083 shares for aggregate gross proceeds of $369,636.31 (sales on 06/30/2025, 07/31/2025, and 08/01/2025). The notice includes the standard representation that the seller is not aware of undisclosed material adverse information.

Positive

• Disclosure and compliance: Form 144 filed showing planned sale and broker details
• Acquisition clarity: Securities identified as acquired via RSU vesting, with acquisition and payment dates disclosed
• Recent sales reported: Past three months' sales and gross proceeds are itemized for transparency

Negative

• Insider selling activity: Recent open-market sales totaling 78,083 shares could be viewed negatively by some investors
• Limited issuer detail: The filing provides minimal narrative on issuer circumstances beyond the required sale disclosure

Insights

Securities Analyst

TL;DR: Routine insider disclosure of RSU vesting and planned sale; transaction size is small relative to outstanding shares.

This Form 144 documents a planned sale of 42,000 shares tied to RSU vesting and reports recent aggregated insider sales totaling 78,083 shares. The filing shows proper broker involvement and clear treatment of the acquisition as compensation. Given the issuer's reported outstanding share count of 93,718,031, the proposed sale represents an immaterial percentage of the float, suggesting limited market impact. The filing is primarily a compliance disclosure rather than a material corporate development.

Corporate Governance Expert

TL;DR: Disclosure aligns with Rule 144 requirements; transparency on vesting and sales is beneficial for governance.

The notice identifies the acquisition source as restricted stock unit vesting and records prior open-market sales by an individual (Thomas F. Lesinski). Such disclosures assist stakeholders in tracking insider liquidity and confirm adherence to regulatory sale procedures via a broker. There is no information in the notice of any undisclosed material adverse facts, and the standard seller representation is included. From a governance perspective, this is a routine, compliant insider transaction filing.

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

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	42000	199500	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			77500	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
Thomas F. Lesinski 6300 S. Syracuse Way Suite 300 Centennial CO 80111	Common Stock	06/30/2025	37828	182243.96
Thomas F. Lesinski 6300 S. Syracuse Way Suite 300 Centennial CO 80111	Common Stock	07/31/2025	36393	169343.91
Thomas F. Lesinski 6300 S. Syracuse Way Suite 300 Centennial CO 80111	Common Stock	08/01/2025	3862	18049.44

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 disclose?

The form discloses a proposed sale of 42,000 common shares through Morgan Stanley Smith Barney with an aggregate market value of $199,500, dated approximately 09/30/2025.

How were the securities being sold acquired?

The securities were acquired on 09/30/2025 through restricted stock unit vesting and treated as compensation (77,500 shares acquired).

What insider sales occurred in the past three months?

Thomas F. Lesinski reported sales of 37,828 shares on 06/30/2025, 36,393 shares on 07/31/2025, and 3,862 shares on 08/01/2025, totaling 78,083 shares for gross proceeds of $369,636.31.

Which broker is handling the proposed sale?

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

How large is the proposed sale relative to outstanding shares?

The filing lists 93,718,031 shares outstanding; the proposed sale of 42,000 shares represents an immaterial fraction of that total.