Form 4: AMC Networks CEO Kristin Dolan Reports Stock Transactions

Kristin Dolan, CEO of AMC Networks, reports the vesting and settlement of restricted stock units and related tax withholding.

Summary

• Kristin A. Dolan, CEO of AMC Networks, reported transactions involving Class A Common Stock.
• On February 27, 2024, 99,109 Restricted Stock Units (RSUs) vested and were settled, resulting in the receipt of Class A Common Stock.
• 38,811 shares were withheld to cover withholding taxes related to the vested RSUs at a price of $12.73 per share.
• Following these transactions, Kristin A. Dolan directly owns 67,769 shares of Class A Common Stock and indirectly owns 1,925 shares through her husband as custodian for their minor children.
• James L. Dolan, Kristin A. Dolan's spouse and a director and member of a 13(d) group, disclaims beneficial ownership of the securities held directly by Kristin A. Dolan and by him as custodian for their minor children.
• The RSUs were granted under the AMC Networks Inc. 2016 Employee Stock Plan.
• The remaining RSUs will vest in two equal installments on February 27, 2025, and February 27, 2026.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to executive compensation, with no particularly positive or negative implications.

Positives

• The vesting of RSUs indicates a continued alignment of the CEO's interests with those of the shareholders.

Future Outlook

The remaining RSUs will vest in two equal installments on February 27, 2025, and February 27, 2026.

Management Comments

• Mr. Dolan disclaims beneficial ownership of these securities and this report shall not be deemed to be an admission that Mr. Dolan is, for the purposes of Section 16 or for any other purpose, the beneficial owner of such securities.
• Reporting Persons disclaim beneficial ownership of all securities beneficially owned and deemed to be beneficially owned by their minor children and this report shall not be deemed an admission that Reporting Persons are, for the purposes of Section 16 or for any other purpose, the beneficial owners of such securities.

Industry Context

Executive compensation and stock ownership are common practices in publicly traded companies like AMC Networks to incentivize performance and align management interests with shareholders.

Comparison to Industry Standards

• Vesting schedules for restricted stock units are a standard component of executive compensation packages in the media and entertainment industry.
• Companies like Disney, Paramount, and Warner Bros. Discovery also utilize RSUs as part of their executive compensation plans.
• The specific vesting terms and amounts vary based on individual performance, company performance, and industry benchmarks.

Stakeholder Impact

• The vesting of RSUs has a minor dilutive effect on existing shareholders.
• The tax withholding generates revenue for government entities.

Key Dates