Director Nicholas Bell gains 18,210 National CineMedia (NCMI) shares

Rhea-AI Filing Summary

National CineMedia, Inc. director Nicholas Bell reported the vesting of restricted stock units that converted into common stock. On February 27, 2026, he exercised 18,210 restricted stock units for no cash cost, receiving 18,210 shares of common stock. Following this derivative conversion, Bell directly owns 69,186 shares of National CineMedia common stock.

Insider Trade Summary

18,210 shares exercised/converted

Mixed 2 txns

Insider Bell Nicholas

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	18,210	$0.00	--
Exercise	Common Stock	18,210	$0.00	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Common Stock — 69,186 shares (Direct)

Footnotes (1)

1. Represents acquisition of common stock upon vesting of restricted stock units. Each restricted stock unit represents the right to receive one share of the Issuer's common stock.

Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Bell Nicholas

(Last) (First) (Middle)

C/O NATIONAL CINEMEDIA, INC.

6300 S. SYRACUSE WAY

(Street)

CENTENNIAL CO 80111

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
National CineMedia, Inc. [ NCMI ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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
Common Stock	02/27/2026		M		18,210(1)	A	$0	69,186	D

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
Restricted Stock Units	(2)	02/27/2026		M			18,210	02/27/2026	02/27/2026	Common Stock	18,210	$0	0	D

Explanation of Responses:

1. Represents acquisition of common stock upon vesting of restricted stock units.

2. Each restricted stock unit represents the right to receive one share of the Issuer's common stock.

	/s/ Laura Anne Kenwick, as attorney-in-fact	03/03/2026
	** 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 insider transaction did Nicholas Bell report for NCMI?

Nicholas Bell reported acquiring common stock in National CineMedia, Inc. through the vesting of restricted stock units. On February 27, 2026, 18,210 restricted stock units converted into 18,210 common shares at no cash cost to him.

How many National CineMedia (NCMI) shares did Nicholas Bell receive?

Nicholas Bell received 18,210 shares of National CineMedia common stock. These shares came from the automatic conversion of 18,210 restricted stock units, with each unit representing the right to receive one share of common stock upon vesting.

What type of security did Nicholas Bell hold before acquiring NCMI shares?

Before acquiring the common shares, Nicholas Bell held restricted stock units in National CineMedia. Each restricted stock unit entitled him to receive one share of the company’s common stock when it vested, resulting in 18,210 new shares on February 27, 2026.

Did Nicholas Bell buy or sell National CineMedia (NCMI) shares on the open market?

Nicholas Bell did not buy or sell shares on the open market. Instead, he acquired 18,210 National CineMedia common shares through the exercise and conversion of restricted stock units that vested, a non-cash, derivative-based transaction reported under code M.

What are Nicholas Bell’s direct holdings in National CineMedia after this Form 4?

After the reported transaction, Nicholas Bell directly holds 69,186 shares of National CineMedia common stock. This total reflects the addition of 18,210 shares received from the vesting and conversion of his restricted stock units on February 27, 2026.