Bell Nicholas 4

What Happened

• Nicholas Bell, a director of National CineMedia, Inc. (NCMI), was granted 32,346 restricted stock units (RSUs) on May 7, 2026. The Form 4 records the acquisition as 32,346 derivative units at $0.00 (transaction code A — award/grant). This was a compensation award, not an open-market purchase or sale.

Key Details

• Transaction date and price: May 7, 2026 — 32,346 RSUs acquired at $0.00 per unit (reported as a derivative award).
• Vesting: The RSUs are scheduled to vest on May 7, 2027, provided Mr. Bell remains a director; units convert to one share of common stock each and shares will be delivered as soon as practicable after vesting (see footnotes).
• Shares owned after transaction: Not disclosed in this Form 4.
• Filing timeliness: Report filed May 11, 2026 — appears to be timely (filed within the SEC’s two-business-day window following the May 7 transaction).
• Transaction code: A (award/grant); derivative security (RSUs convert to common stock on vesting).

Context

• Each RSU represents the right to receive one share of NCMI common stock upon vesting; the $0.00 in the Form 4 reflects that this was an awarded grant rather than a cash purchase. Director RSU grants are typical compensation and do not, by themselves, indicate a buy or sell sentiment by the insider.