Form 4: AMC Networks Executive Michael J. Sherin III Reports Stock Transactions
SEC Form 4 Filing
EVP & Chief Accounting Officer Michael J. Sherin III reports the vesting and settlement of restricted stock units and associated tax withholding.
Summary
- Michael J. Sherin III, EVP & Chief Accounting Officer of AMC Networks Inc., reported transactions involving AMC Networks Inc. Class A Common Stock on March 8, 2024.
- 4,628 Restricted Stock Units (RSUs) vested and were settled, resulting in the acquisition of 4,628 shares of Class A Common Stock.
- Simultaneously, 1,557 shares were disposed of to cover tax obligations at a price of $11.85 per share.
- Following these transactions, Sherin directly owns 7,948 shares of AMC Networks Inc. Class A Common Stock and 9,257 Restricted Stock Units.
- The RSUs were granted on October 24, 2023, under the AMC Networks Inc. 2016 Employee Stock Plan and vest in three tranches.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Future Outlook
The remaining RSUs will vest in two tranches on March 9, 2025, and March 9, 2026.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Key Dates
| Date | Description |
|---|---|
| October 24, 2023 | Date the Restricted Stock Units (RSUs) were granted under the AMC Networks Inc. 2016 Employee Stock Plan. |
| March 8, 2024 | Date of the reported transactions: vesting of RSUs and disposal of shares for tax obligations. |
| March 9, 2025 | Date when one-third of the remaining RSUs will vest. |
| March 9, 2026 | Date when the final one-third of the RSUs will vest. |
| March 12, 2024 | Date of signature on the Form 4 filing. |
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