Ng Ronnie Y. 4

What Happened

• Ronnie Y. Ng, Chief Financial Officer of National CineMedia (NCMI), had 20,649 restricted stock units (RSUs) vest on May 1, 2026 and converted into 20,649 shares (acquired at $0.00 per share; footnotes F1 and F3).
• The filing also shows a related derivative/settlement entry for 20,649 shares on May 1 (reported as a conversion/disposition of the derivative). Separately, on May 4, 2026 Ng sold 12,925 shares in an open-market transaction at $3.45 per share, generating $44,545 in proceeds (footnote F2).
• Receiving vested RSUs is not a market purchase (it’s an award). The subsequent sale was to satisfy tax obligations and is a routine, non‑directional action rather than an investment bet.

Key Details

• Transaction dates and prices:
  • 2026-05-01: 20,649 RSUs vested and converted to 20,649 shares (acquired at $0.00) — F1, F3.
  • 2026-05-01: 20,649 shares reported as disposed in connection with the derivative conversion/settlement (reported at $0.00).
  • 2026-05-04: Open-market sale of 12,925 shares at $3.45 per share for $44,545 — F2.
• Shares owned after transaction: Not disclosed in this filing.
• Footnotes of note:
  • F1: Acquisition upon RSU vesting.
  • F2: Open-market sale to satisfy tax obligation per award terms.
  • F3: Each RSU equals one share.
• Filing timeliness: Form filed 2026-05-05 for transactions on 2026-05-01 and 05-04; filing appears timely under the Form 4 reporting rules.

Context

• These entries reflect RSU vesting and routine tax-related share withholding/sales. The award (vested RSUs) is the primary acquisition; the subsequent sale(s) were executed to satisfy tax obligations and are common following vesting. Such tax-withholding or sale-to-cover transactions are not necessarily indicators of insider sentiment about the company’s stock.