National CineMedia, Inc. (NASDAQ:NCMI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
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Departure of Directors or Certain Officers; Election of |
On April 28, 2017, the Board of Directors of the Company
reappointed Scott N. Schneider as the Non-Employee Executive
Chairman of the Board of Directors of the Company.The term of his
appointment (the Chairmanship Term) is from January 1, 2017
through the earliest of (1) December 31, 2017, (2) the death of
Mr. Schneider or (3) the removal of Mr. Schneider from the Board
of Directors of the Company.
In connection with Mr. Schneiders position, the Company, National
CineMedia, LLC and Mr. Schneider entered into a Director Service
Agreement, dated April 28, 2017, with a term ending at the end of
the Chairmanship Term.Under the terms of the Director Service
Agreement, the Company will pay Mr. Schneider $675,000 for his
services, $405,000 of which is payable in cash.The remainder of
the compensation is a grant of restricted stock units (RSU) of
18,243 shares of Company stock ($270,000 divided by $14.80, the
closing price of the Companys common stock on January 19,
2017).This RSU award vests in full on January 19, 2018.This
compensation to Mr. Schneider is in lieu of other Board of
Director and Board Committee compensation otherwise payable in
2017.
A copy of the Director Service Agreement is included as Exhibit
10.1.
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Item 9.01 |
Financial Statements and Exhibits |
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(d) |
Exhibits |
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Exhibit No. |
Reference |
Description |
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10.1 |
Director Service Agreement dated April 28, 2017, among
CineMedia, Inc., National CineMedia, LLC and Scott |
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. National CineMedia, Inc. (NASDAQ:NCMI) Recent Trading Information
National CineMedia, Inc. (NASDAQ:NCMI) closed its last trading session down -0.18 at 11.72 with 619,673 shares trading hands.