Campbell Kotzman Kelly 4

What Happened

• Campbell Kotzman Kelly, a director of National CineMedia, reported the vesting/conversion of 14,026 restricted stock units (RSUs) into 14,026 shares on February 27, 2026. The reported acquisition price per share is $0.00 (common for RSU vesting). The filing also reports a matching disposition of 14,026 shares (reported with a $0.00 amount) tied to the same conversion event.
• This is not a cash purchase or sale in the open market; it reflects equity compensation settling into shares (and an immediate reported disposition tied to the conversion). The filing does not state cash proceeds for the disposition.

Key Details

• Transaction date: 2026-02-27 (reported on Form 4 filed 2026-03-03)
• Transaction type: M (exercise/conversion of derivative) — here representing RSU vesting into common stock
• Shares acquired: 14,026 at $0.00 per share (conversion on vesting)
• Shares disposed: 14,026 at $0.00 per share (reported as part of the same conversion event)
• Footnotes: F1 = acquisition upon vesting of restricted stock units; F2 = each RSU equals the right to one share
• Shares owned after transaction: not specified in the provided filing excerpt
• Filing timeliness: Form filed 2026-03-03 for a 2026-02-27 transaction; the filing does not state whether it was late

Context

• For retail investors: this pattern typically reflects equity compensation (RSUs) converting to shares at vesting. The immediate matching disposition often represents administrative settlement actions (for example, share withholding to satisfy taxes or other settlement mechanics), though the filing itself does not spell out the reason. Such transactions are routine compensation events and do not necessarily indicate the insider’s view on the company’s stock.