Welcome to our dedicated page for National Cinemedia SEC filings (Ticker: NCMI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The National CineMedia, Inc. (NCMI) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures, alongside AI-powered summaries that help explain key points in plain language. As the managing member and owner of approximately 100% of National CineMedia, LLC, which operates what it describes as the largest cinema advertising platform in the U.S., NCM’s filings give investors insight into how its theater-based advertising network performs and how management responds to industry conditions.
Among the most closely watched documents are annual reports on Form 10-K and quarterly reports on Form 10-Q. These filings typically include detailed discussions of revenue from national advertising, local and regional advertising, and beverage concessionaire agreements, as well as operating expenses such as theater exhibition fees, selling and marketing costs, and administrative and other costs. They also present operating data on total screens, attendance, and revenue per attendee, which are central to understanding NCM’s business model.
Investors can also review current reports on Form 8-K, where NCM discloses material events. Recent 8-K filings have covered topics such as the acquisition of Spotlight Cinema Networks, quarterly earnings press releases, changes to the board of directors, and executive departures with associated compensation arrangements. These documents help track governance developments, strategic transactions, and short-term financial updates between periodic reports.
For those monitoring insider activity and governance, Forms 3, 4, and 5 (when filed) provide information on equity holdings and transactions by directors, officers, and significant shareholders, while proxy statements (Form DEF 14A) outline board composition, director designation agreements, and executive compensation policies. NCM has, for example, described a Director Designation Agreement with Blantyre Capital Limited in its 8-K filings.
Stock Titan’s platform enhances these filings with AI-generated highlights that point out important changes in revenue composition, non-GAAP measures such as Adjusted OIBDA, capital structure details, and governance updates. Real-time ingestion from EDGAR means new NCMI filings appear quickly, and users can drill into specific forms—10-K, 10-Q, 8-K, and Form 4—to understand how National CineMedia’s cinema advertising operations, exhibitor relationships, and strategic initiatives are reflected in its official disclosures.
National CineMedia, Inc. reported that Chief Executive Officer Thomas F. Lesinski was granted 1,500,000 employee stock options on February 24, 2026. These derivative securities carry an exercise price of $0.0000 per share and are held as direct ownership.
The options vest, if at all, in three equal tranches over a three-year performance period, subject to Mr. Lesinski’s continued service. Each tranche requires the 30-day volume-weighted-average share price to reach $5.00, $6.00, and $7.00, respectively. For each tranche, one-half vests upon achievement of the specific price metric and the remaining half on the first anniversary of that achievement.
National CineMedia outlines its position as the largest U.S. cinema advertising platform, with more than 17,000 screens across 1,300+ theaters and broad data-driven ad products like NCMx, Boost, Boomerang and Bullseye.
In 2025, the company acquired Spotlight for $8.2 million, expanding art house and luxury circuits and lifting national market share by over 6%. It also amended AMC’s exhibitor services agreement, extending the term by five years and eliminating AMC’s rights under the tax receivable and common unit adjustment agreements, which reduced intangible assets and future amortization expense.
NCM LLC entered a $45.0 million revolving credit facility maturing in 2028, with $12.0 million outstanding as of January 1, 2026, and retired a prior revolver. Capital returns include a one-for-ten reverse stock split in 2023 and a $100.0 million repurchase authorization, under which 6.6 million shares have been bought back and retired.
The report also describes the 2023 Chapter 11 reorganization of subsidiary NCM LLC, the Regal ESA termination and conversion to a network affiliate agreement, and confirms that NCM Inc. again consolidates NCM LLC after emergence while holding 100% of its common membership units as of January 1, 2026.
National CineMedia reported stronger fiscal fourth-quarter results, with revenue rising 8% to $93.2 million and operating income increasing to $23.8 million from $20.0 million. Net income grew to $29.3 million, or $0.31 per diluted share, and Adjusted OIBDA improved to $37.2 million, modestly above the prior year.
For full-year 2025, revenue edged up to $243.2 million, while operating loss narrowed to $13.9 million and net loss improved to $10.6 million from $22.3 million. Adjusted OIBDA declined to $39.1 million. The company declared a quarterly cash dividend of $0.03 per share and guided first-quarter 2026 revenue to $32.5–$36.5 million with negative Adjusted OIBDA of $(13.0) million to $(10.0) million.
Orbis Investment Management Ltd and Allan Gray Australia Pty Ltd filed an amended Schedule 13G reporting passive ownership of National CineMedia, Inc. common stock as of 12/31/2025.
The reporting persons together beneficially own 9,523,889 shares, representing 10.2% of the outstanding common stock. Orbis holds sole voting and dispositive power over 9,438,230 shares, while Allan Gray holds sole voting and dispositive power over 85,659 shares. They state the securities are held in the ordinary course of business and not for the purpose of changing or influencing control.
National CineMedia, Inc. (NCMI) reported that its operating subsidiary, National CineMedia, LLC, has recently completed the acquisition of Spotlight Cinema Networks, LLC. The company disclosed this through a press release dated November 17, 2025, which is attached as Exhibit 99.1 and incorporated solely for the Regulation FD disclosure. The announcement is presented as furnished information, meaning it is not treated as filed for liability purposes under certain sections of the federal securities laws.
National CineMedia, Inc. reports that Catherine Sullivan, its President – Sales, Marketing and Partnerships, will step down from her role as of November 13, 2025 and leave the company on December 1, 2025 following the elimination of her position. Her departure will be treated as an “Involuntary Termination” under her employment agreement, making her eligible for severance equal to 100% of her base salary plus 100% of her target bonus, paid in equal installments over 12 months in exchange for a release of claims. The company states that her termination is not the result of any violation of company policy.
National CineMedia (NCMI) disclosed an insider transaction by its Chief Financial Officer. On 11/10/2025, the CFO executed an open‑market sale of 21,194 shares of common stock at an average price of $3.8898, with trade prices ranging from $3.81 to $3.95.
Following the sale, the officer beneficially owned 159,958 shares. The transaction was conducted pursuant to a Rule 10b5‑1 trading plan adopted on August 25, 2025.
National CineMedia (NCMI) reported a return to quarterly profitability. Revenue was $63.4 million, up slightly year over year, and operating loss narrowed to $1.8 million from $7.5 million. Net income reached $1.6 million versus a loss a year ago, aided by non‑operating items including re‑measurement of the tax receivable agreement.
For the first nine months, revenue was $150.0 million with a net loss of $39.9 million. Cash and cash equivalents were $29.9 million, and the company reported no long‑term debt after repaying and terminating its 2023 revolver. A new $45.0 million senior secured revolving credit facility was established in January 2025 with no borrowings outstanding at quarter‑end.
NCM updated its AMC relationship in April 2025, extending the exhibitor services agreement, waiving certain payments under the TRA, and adjusting consideration; the net effect reduced intangible assets and is expected to lower amortization expense over the remaining term. The company repurchased $18.8 million of stock year‑to‑date and declared a $0.03 per‑share dividend in the quarter. As of October 28, 2025, 93,831,167 common shares were outstanding.
National CineMedia, Inc. (NCMI) reported that it issued a press release announcing financial results for its fiscal third quarter ended September 25, 2025. The release is furnished as Exhibit 99.1.
The company states that the information provided under Item 2.02, including Exhibit 99.1, is furnished and not deemed filed pursuant to General Instruction B.2.
National CineMedia (NCMI) disclosed an initial Form 3 for a director dated 10/21/2025. The filing reports 27,144,639 shares of common stock beneficially owned on an indirect basis.
The ownership is through fund vehicles for which Blantyre Capital Limited serves as investment advisor. The reporting person disclaims beneficial ownership except to the extent of his pecuniary interest.