Ng Ronnie Y. 4

What Happened Ronnie Y. Ng, Chief Financial Officer of National CineMedia, had 51,666 restricted stock units (RSUs) vest on 2026-06-30 (each RSU = one share). Of those vested shares, 32,328 were sold in an open-market transaction on 2026-07-02 at $3.77 per share, generating proceeds of approximately $121,954. The vesting/conversion of the RSUs is recorded as a derivative acquisition/conversion.

Key Details

• Transaction dates: RSU vesting/conversion on 2026-06-30; open-market sale on 2026-07-02. Filing date: 2026-07-02.
• Sale details: 32,328 shares sold at $3.77 each; proceeds ≈ $121,954.
• Vesting details: 51,666 RSUs converted to common shares (each RSU = one share); 51,666 shares were recorded as acquired upon vesting.
• Net retention from this award: 51,666 vested − 32,328 sold = 19,338 shares retained from this vesting event (based on the numbers in the filing).
• Footnotes: F1 = acquisition upon RSU vesting; F2 = open-market sale to satisfy tax withholding on vesting; F3 = each RSU equals one share.
• Shares owned after the transaction: not disclosed in the provided filing.
• Timeliness: Form 4 was filed on 2026-07-02 and appears to be timely (filed within the normal 2-business-day window).

Context This was primarily a vesting of restricted stock units with a partial open-market sale to satisfy tax obligations — a common, routine insider transaction (not an independent buy). For derivative entries like this, the “exercise/conversion” means the RSUs converted into actual shares; when shares are sold immediately to cover taxes it’s effectively a cashless/dollar-for-dollar withholding mechanism and not necessarily a signal about the insider’s view of the company.