Were the National CineMedia CFO’s share sales discretionary or tax-related?

The filing states the 12,925-share sale was made to satisfy tax obligations upon RSU vesting. This indicates the sale was tied to tax requirements under the award agreement, rather than a purely discretionary reduction of his National CineMedia shareholding.

NCMI CFO exercises RSUs, sells shares for taxes

National CineMedia, Inc. Chief Financial Officer Ronnie Y. Ng reported routine equity compensation activity.

Filing Impact

(Neutral)

Filing Sentiment

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Form Type

Rhea-AI Filing Summary

National CineMedia, Inc. Chief Financial Officer Ronnie Y. Ng reported routine equity compensation activity. On May 1, he acquired 20,649 shares of common stock at $0.00 per share through the vesting and conversion of restricted stock units. Each unit converted into one common share.

On May 4, he sold 12,925 common shares at an average price of $3.4464 per share, with the filing stating the sale was to satisfy tax obligations related to the vesting. After these transactions, he directly held 204,757 common shares. No derivative awards remain from this vested RSU grant.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 3 txns

Insider Ng Ronnie Y.

Role Chief Financial Officer

Sold 12,925 shs ($45K)

Approx. gross sale proceeds $45K

Approx. exercise cost $0.00

Type	Security	Shares	Price	Value
Sale	Common Stock	12,925	$3.4464	$45K
Exercise	Restricted Stock Units	20,649	$0.00	$0.00
Exercise	Common Stock	20,649	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 0 contracts (Direct); Common Stock — 204,757 shares (Direct)

Footnotes (3)

F1. Represents acquisition of common stock upon vesting of restricted stock units.
F2. Represents the sale of securities on the open market to satisfy the tax obligation upon the vesting of restricted stock units pursuant to the terms of the award agreement.
F3. Each restricted stock unit represents the right to receive one share of the Issuer's common stock.

Key Figures

RSU shares vested: 20,649 shares Shares sold: 12,925 shares Sale price: $3.4464 per share +4 more

7 metrics

RSU shares vested 20,649 shares Common stock acquired via RSU vesting on May 1, 2026

Shares sold 12,925 shares Common stock sold on May 4, 2026

Sale price $3.4464 per share Average price for 12,925 shares sold

Post-transaction holdings 204,757 shares Common shares directly held after reported transactions

Exercise price $0.00 per share Reported price for RSU conversion into common stock

Derivative exercises 1 transaction, 20,649 shares RSU-to-common stock conversion on May 1, 2026

Net buy/sell shares -12,925 shares Net share movement categorized as sell in summary data

Key Terms

restricted stock units, vested, open market, tax obligation, +1 more

5 terms

restricted stock units financial

"Restricted Stock Units transaction converting into common stock on May 1, 2026"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

vested financial

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

open market financial

"Represents the sale of securities on the open market to satisfy the tax obligation"

An open market is a system where buying and selling of goods, services, or financial assets happen freely without restrictions or special controls. For investors, it means they can trade assets easily and quickly, which helps determine fair prices based on supply and demand. This environment encourages transparency and competition, making it easier to buy or sell with confidence.

tax obligation financial

"sale of securities on the open market to satisfy the tax obligation upon the vesting"

derivative security financial

"Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did NCMI CFO Ronnie Ng report on this Form 4?

Ronnie Ng reported RSU vesting into 20,649 National CineMedia common shares and a related sale of 12,925 shares. The sale was described as covering tax obligations from the vesting, leaving him with 204,757 shares directly held.

How many National CineMedia (NCMI) shares did the CFO acquire through RSU vesting?

Ronnie Ng acquired 20,649 National CineMedia common shares when his restricted stock units vested. The filing notes each RSU converted into one share of common stock at a reported price of $0.00 per share on May 1, 2026.

How many NCMI shares did the CFO sell, and at what price?

Ronnie Ng sold 12,925 National CineMedia common shares at an average price of $3.4464 per share. The filing explains this sale was conducted on the open market specifically to satisfy tax obligations arising from the RSU vesting.

What was Ronnie Ng’s National CineMedia shareholding after these transactions?

After the reported RSU vesting and tax-related sale, Ronnie Ng directly held 204,757 National CineMedia common shares. This post-transaction ownership figure reflects the net result of acquiring 20,649 shares and selling 12,925 shares disclosed in the Form 4.

Did any restricted stock units remain outstanding for the NCMI CFO after this vesting?

For the specific restricted stock unit grant reported, no units remained after vesting and conversion. The filing shows 20,649 RSUs converted into the same number of common shares, with zero derivative units remaining from that award following the May 1, 2026 transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 05/05/2026 - 04:17 PM EDT

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^*

Ng Ronnie Y.

(Last)

(First)

(Middle)

C/O NATIONAL CINEMEDIA, INC.

6300 S. SYRACUSE WAY

(Street)

CENTENNIAL

COLORADO

80111

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/01/2026		M		20,649⁽¹⁾	A	$0	217,682	D
Common Stock	05/04/2026		S		12,925⁽²⁾	D	$3.4464	204,757	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	$0⁽³⁾	05/01/2026		M			20,649	05/01/2026	05/01/2026	Common Stock	20,649	$0	0	D

Explanation of Responses:

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

2. Represents the sale of securities on the open market to satisfy the tax obligation upon the vesting of restricted stock units pursuant to the terms of the award agreement.

3. 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	05/05/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR