National CineMedia Insider Sells 2,584 Shares; Prior Sale of 9,038 Reported

Rhea-AI Filing Summary

Form 144 filing for National CineMedia, Inc. (NCMI) notifies the SEC of a proposed sale of 2,584 common shares through Morgan Stanley Smith Barney LLC, with an aggregate market value of $12,635.76 and an approximate sale date of 09/17/2025 on NASDAQ. The shares were acquired as restricted stock units on 06/30/2025 and were fully issued on that date. The filing also discloses a prior sale by the same person of 9,038 shares on 06/30/2025 that generated gross proceeds of $43,542.37. The notice includes the required representation that the seller is not aware of undisclosed material adverse information about the issuer.

Positive

• Filing discloses proposed sale of 2,584 shares
• Prior sale of 9,038 shares on 06/30/2025 is reported with gross proceeds
• Broker for the proposed sale is identified: Morgan Stanley Smith Barney LLC
• Securities origin is documented as Restricted Stock Units vested on 06/30/2025

Negative

• Insider selling activity is disclosed and may be perceived negatively by some investors

Insights

Financial Analyst

TL;DR: Small insider selling of restricted stock units; limited market impact given modest size.

The filing reports a proposed sale of 2,584 common shares valued at $12,635.76 and a prior sale of 9,038 shares generating $43,542.37. Both transactions are relatively small versus typical public float metrics for listed companies, suggesting low immediate pressure on share liquidity or valuation. The shares were RSUs issued on 06/30/2025, indicating these sales likely reflect post-vesting liquidity rather than a change in control or financing need. From a quantitative standpoint, the disclosed amounts are unlikely to be material to company financials.

Corporate Governance Expert

TL;DR: Filing demonstrates compliance with Rule 144 and transparency around insider transactions.

The document identifies the broker (Morgan Stanley Smith Barney LLC), the sale date window (09/17/2025), and origin of the securities (RSUs dated 06/30/2025). It also records a recent sale on 06/30/2025, meeting disclosure expectations for insider sales. The signer affirms no undisclosed material adverse information, which is the standard attestation on Form 144. There is no indication in the filing of unusual trading arrangements or 10b5-1 plan adoption dates.

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	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	2584	12635.76	93710120	09/17/2025	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	06/30/2025	Restricted Stock Units	Issuer			2584	06/30/2025	N/A

* 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	06/30/2025	9038	43542.37

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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 filing reports a proposed sale of 2,584 common shares with an aggregate market value of $12,635.76, to be sold around 09/17/2025 on NASDAQ via Morgan Stanley Smith Barney LLC.

When and how were the shares being sold acquired?

The shares were acquired as Restricted Stock Units and were issued on 06/30/2025.

Did the filer sell other NCMI shares recently?

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

Which broker is handling the proposed sale?

The proposed sale lists Morgan Stanley Smith Barney LLC (Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY) as the broker.

Does the filing indicate any undisclosed material adverse information?

By signing Form 144, the person represents they do not know of any material adverse information about the issuer that has not been publicly disclosed.