Form 4: AMC Networks Executive Dan McDermott Reports Stock Transactions Following RSU Vesting
SEC Form 4 Filing
Dan McDermott, President of Entertainment and AMC Studios at AMC Networks, reported the acquisition and disposal of Class A Common Stock related to the vesting of restricted stock units (RSUs).
Summary
- On March 7, 2025, Dan McDermott, President of Entertainment & AMC Studios at AMC Networks Inc., reported transactions involving AMC Networks Class A Common Stock.
- These transactions are related to the vesting of restricted stock units (RSUs) granted under the AMC Networks Inc. 2016 Employee Stock Plan.
- The transactions include the acquisition of shares upon RSU vesting and the disposal of shares to cover tax withholding obligations.
- Specifically, 4,077 RSUs vested from a grant on March 10, 2022, 9,880 RSUs vested from a grant on April 13, 2023, and 12,870 RSUs vested from a grant on March 12, 2024.
- Shares were withheld to satisfy tax obligations at a price of $7.06 per share.
- Following these transactions, McDermott directly owns 39,055 shares of AMC Networks Inc. Class A Common Stock and 35,620 Restricted Stock Units.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and regulatory reporting, suggesting a neutral to slightly positive sentiment due to alignment of executive interests with shareholders.
Positives
- The vesting of RSUs aligns executive compensation with company performance.
- The reporting of these transactions ensures transparency for investors.
Industry Context
Executive compensation through stock options and RSUs is a common practice in the media and entertainment industry to align management interests with shareholder value.
Comparison to Industry Standards
- Vesting schedules for RSUs, such as the one described in the document, are typical in executive compensation packages within the media industry.
- Companies like Netflix, Disney, and Paramount also utilize RSUs as part of their executive compensation plans, with vesting schedules that often span three to four years.
Stakeholder Impact
- The vesting of RSUs impacts shareholders by potentially diluting the value of existing shares.
- Employees benefit from the vesting of RSUs as part of their compensation package.
Key Dates
| Date | Description |
|---|---|
| 03/10/2022 | Date of grant for 4,077 Restricted Stock Units (RSUs) under the AMC Networks Inc. 2016 Employee Stock Plan. |
| 03/09/2023 | One-third of the RSUs granted on March 10, 2022 vested and were settled. |
| 04/13/2023 | Date of grant for 9,880 Restricted Stock Units (RSUs) under the AMC Networks Inc. 2016 Employee Stock Plan. |
| 03/08/2024 | One-third of the RSUs granted on March 10, 2022 and April 13, 2023 vested and were settled. |
| 03/12/2024 | Date of grant for 12,870 Restricted Stock Units (RSUs) under the AMC Networks Inc. 2016 Employee Stock Plan. |
| 03/07/2025 | Date of transactions reported in the Form 4, including RSU vesting and tax withholding. |
| 03/09/2025 | The remaining one-third of the RSUs granted on March 10, 2022 and one-third of the RSUs granted on April 13, 2023 vested and were settled. |
| 03/09/2026 | One-third of the RSUs granted on April 13, 2023 and one-third of the RSUs granted on March 12, 2024 will vest. |
| 03/09/2027 | The remaining one-third of the RSUs granted on March 12, 2024 will vest. |
| 03/11/2025 | Date of the Form 4 filing. |
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