McDermott Dan 4

What Happened

• Dan McDermott, Chief Content Officer of AMC Networks (AMCX), had multiple RSU grants vest and settle on March 9, 2026. A total of 56,743 shares were issued on conversion of the derivative awards (reported as code M). To satisfy tax withholding obligations (code F), 19,620 shares were withheld at $8.05 per share for total withholding of $157,942. Net shares delivered to McDermott were 37,123.

Key Details

• Transaction date: March 9, 2026; Form 4 filed March 11, 2026 (timely).
• Shares converted (acquired): 9,880; 12,870; 20,938; 13,055 — total 56,743.
• Shares withheld for taxes (disposed): 3,416; 4,450; 7,240; 4,514 — total 19,620 at $8.05/share = $157,942.
• Net new shares to insider: 56,743 − 19,620 = 37,123 shares.
• Footnotes: These were RSU settlements from grants dated Apr 13, 2023; Mar 12, 2024; Mar 11, 2025; and Nov 18, 2025. Withholding transactions are exempt under Rule 16b-3 (see F2, F4, F6, F8).
• Transaction codes: M = exercise/conversion of derivative (RSU settlement); F = shares withheld to satisfy tax liability.
• Filing appears timely (no late filing flag).

Context

• This was not an open-market sale or purchase. It reflects scheduled RSU vesting and net settlement (shares withheld to cover taxes), a routine compensation event rather than a directional trade signal.
• For retail investors: purchases by insiders are often more informative than routine vesting; here the transaction primarily documents compensation settlement and tax withholding.