National CineMedia, Inc. (NASDAQ: NCMI) (the “Company”), announced today
that Kurt Hall, Chairman, President and Chief Executive Officer, adopted
a pre-arranged stock trading plan (the “Plan”) to sell shares of the
Company’s common stock for personal financial management purposes in
accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as
amended, and the Company’s insider trading policies regarding stock
transactions.
Effective February 18, 2014 through December 31, 2015, the Plan provides
for the sale of up to 125,000 shares, provided certain limit prices set
forth in the Plan are met. The total number of shares covered by the
Plan represents approximately 33% of the NCM shares held by Mr. Hall in
brokerage accounts and approximately 7% of the shares currently held by
Mr. Hall in brokerage accounts plus those shares that could vest or be
exercised in the future, comprised of Mr. Hall’s unvested restricted
shares and vested and unvested stock options. Shares under the Plan may
be sold in two tranches in the open market at prevailing market prices
as summarized below, subject to the specified daily volume limits set
forth in the Plan:
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Tranche
#
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Trading Periods
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# of Shares to Sell
each Trading Period
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Limit
Price
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1
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2/19/14 – 12/31/15
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62,500
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$21.00
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2
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2/19/14 – 12/31/15
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62,500
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$23.00
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Total Plan Shares
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125,000
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Under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended,
directors, officers and other persons who are not in possession of
material, non-public information may adopt a pre-arranged plan or
contract for sale of the Company’s securities under specified conditions
and at specified times to achieve prudent and gradual asset
diversification over time. Once the plan is in place, the executive may
not retain or exercise any discretion over trading under the plan,
although the executive may later amend or terminate the plan. The broker
administering the plan is authorized to trade company shares in volumes
and at times determined independently by the broker, subject to
limitations set forth in the plan.
About National CineMedia, Inc.
NCM operates NCM Media Networks, a leading integrated media company
reaching U.S. consumers in movie theaters, online and through mobile
technology. The NCM Cinema Network and NCM Fathom present cinema
advertising and events across the nation’s largest digital in-theater
network, comprised of theaters owned by AMC Entertainment Inc., Cinemark
Holdings, Inc. (NYSE: CNK), Regal Entertainment Group (NYSE: RGC) and
other leading regional theater circuits. NCM’s theater advertising
network covers 183 Designated Market Areas® (49 of the top
50) and includes approximately 19,700 screens (approximatley 18,900
digital). During 2012, over 710 million patrons (on an annualized basis)
attended movies shown in theaters in which NCM currently has exclusive
cinema advertising agreements in place. The NCM Fathom Events live
digital broadcast network (“DBN”) is comprised of approximatley 750
locations in 171 Designated Market Areas® (including all of
the top 50). The NCM Interactive Network offers 360-degree integrated
marketing opportunities in combination with cinema, encompassing 41
entertainment-related websites, online widgets and mobile applications.
National CineMedia, Inc. (NASDAQ: NCMI) owns a 47.2% interest in and is
the managing member of National CineMedia LLC. For more information,
visit www.ncm.com.
Copyright Business Wire 2013