[Form 4] National CineMedia, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 filing for WESCO International Inc. (WCC) reports that Executive Vice President of Supply Chain & Operations, Hemant Porwal, acquired 5.8071 shares of common stock on 06/30/2025. The acquisition results from dividend equivalent rights (DERs) accruing on existing restricted stock units (RSUs); no cash was exchanged (price reported as $0). After the transaction, Porwal beneficially owns 20,529.7168 shares, held directly.

The DERs vest on the same schedule as the underlying RSU award and are economically equivalent to common shares. No derivative securities were bought or sold, and there were no dispositions. Given the very small share amount and routine nature of DER accruals, the filing is administrative and unlikely to materially affect WCC’s valuation or trading dynamics.

Insights

Securities Analyst

TL;DR: Routine DER accrual; negligible impact on WCC.

This Form 4 indicates that EVP Hemant Porwal received 5.8071 dividend-equivalent shares linked to his RSUs, lifting his direct holdings to 20,529.7168 shares. Because the shares stem from standard quarterly dividend accrual and involve no cash purchase or sale, insider sentiment cannot be inferred. The fractional share size (<0.03% of daily volume) makes the filing non-impactful for investors.

Corporate Governance Expert

TL;DR: Administrative disclosure; keeps Section 16 compliance intact.

The company continues proper reporting discipline under Section 16(a). Issuance of DERs linked to RSUs signals adherence to equity-compensation policy. No governance red flags or unusual patterns emerge. Impact on shareholder structure is immaterial.

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
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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^*

Woods Maria VG

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP - General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

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	06/30/2025		M		19,375(1)	A	$0	120,284	D
Common Stock	06/30/2025		S		9,038(2)	D	$4.8177	111,246	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	(3)	06/30/2025		M			19,375	06/30/2025	06/30/2025	Common Stock	19,375	$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	07/02/2025
	** 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

How many WESCO (WCC) shares did EVP Hemant Porwal acquire on 06/30/2025?

He acquired 5.8071 shares via dividend equivalent rights.

What is a dividend equivalent right (DER) reported in WCC's Form 4?

A DER grants the holder shares that mirror cash dividends paid on outstanding RSUs; each DER equals one share and vests with the RSU.

What is Hemant Porwal's total beneficial ownership after the transaction?

Following the accrual, Porwal holds 20,529.7168 WCC shares directly.

Did the insider sell or dispose of any WESCO shares in this Form 4?

No. The filing only reports an acquisition; there were no dispositions.

Is this Form 4 likely to impact WESCO’s stock price?

The transaction involves a fractional share amount and is considered non-material, so market impact is expected to be minimal.