On November 26, 2019, the Board of Directors (the “Board”) of National CineMedia, Inc. (the “Company”) elected David E. Glazek as a member of the Board. Mr. Glazek was designated by Standard General L.P. (“Standard General”) to the letter agreement entered into with the Company on June 1, 2018 (“Letter Agreement”). Mr. Glazek was appointed in connection with the resignation of Andrew P. Glaze, who was appointed to the Board by Standard General in connection with the Letter Agreement in 2018. Mr. Glaze resigned from the Board immediately prior to Mr. Glazek’s appointment, and Mr. Glazek was appointed to fill the resulting vacancy.
Mr. Glazek joined Standard General in 2008, where he is currently a Partner and the Portfolio Manager of the Standard General Special Situations Fund. He is currently the Chairman of Turning Point Brands, Inc., a Director of Standard Diversified, Inc., and a Manager of Donau Carbon USA LLC. He previously worked at Lazard Frères & Co., where he focused on mergers and acquisitions and corporate restructurings, and the Blackstone Group. He holds a B.A. from the University of Michigan and a J.D. from Columbia Law School.
The Board has determined that Mr. Glazek is an independent director as determined by the rules of the Nasdaq Stock Market. There are no family relationships between Mr. Glazek and any director or executive officer of the Company.
Neither Standard General nor Mr. Glazek will be compensated for Mr. Glazek’s service on the Board to the Letter Agreement.
On November 26, 2019, the Board confirmed the appointment of Mr. Glazek to the Compensation Committee and the Nominating and Governance Committee. Following Mr. Glazek’s appointment and Mr. Glaze’s resignation, (i) the Compensation Committee is composed of Mark B. Segall, as chairman, Mr. Glazek, Lawrence A. Goodman, David R. Haas and Donna Reisman, and (ii) the Nominating and Governance Committee is composed of Mr. Glazek, as chairman, Lawrence A. Goodman and Mark B. Segall.
About National CineMedia, Inc. (NASDAQ:NCMI)
National CineMedia, Inc. (NCM, Inc.) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). NCM LLC operates the digital in-theatre media network in North America, through which it sells in-theatre and online advertising and promotions. The Company is engaged in advertising business. It operates through advertising segment. The Company’s advertising and entertainment pre-show, FirstLook, lobby entertainment network (LEN) and programming are distributed across its digital content network (DCN) utilizing its digital content software (DCS). NCM, Inc. has no business operations or material assets. Its on-screen digital FirstLook pre-feature show consists of national and local advertising, as well as behind the scenes making-of and other entertainment content provided by its content partners and other clients. The Company’s Lobby Entertainment Network (LEN) has approximately 3,104 screens in over 1,519 theatres connected to its DCN.
