SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Felenstein Scott D (Last) (First) (Middle) C/O NATIONAL CINEMEDIA INC 6300 S. SYRACUSE WAY, SUITE 300 (Street) CENTENNIAL CO 80111 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol National CineMedia, Inc. [ NCMI ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) President - Sales & Marketing
	3. Date of Earliest Transaction (Month/Day/Year) 02/23/2024
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/23/2024		M		11,924(1)	A	$0	35,033	D
Common Stock	02/23/2024		S		5,154(2)	D	$4.1235	29,879	D
Common Stock	02/26/2024		M		9,548(1)	A	$0	39,427	D
Common Stock	02/26/2024		S		4,126(2)	D	$4.257	35,301	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(3)	02/23/2024		M			8,080	02/23/2024	02/23/2024	Common Stock	8,080	$0	0	D
Restricted Stock Units	(3)	02/23/2024		M			3,844	02/23/2024(4)	02/23/2024	Common Stock	3,844	$0	0	D
Restricted Stock Units	(3)	02/26/2024		M			3,181	02/26/2024	02/26/2024	Common Stock	3,181	$0	0	D
Restricted Stock Units	(3)	02/26/2024		M			6,114	02/26/2024(5)	02/26/2024	Common Stock	6,114	$0	0	D
Restricted Stock Units	(3)	02/26/2024		M			253	02/26/2024(6)	02/26/2024	Common Stock	253	$0	0	D

Explanation of Responses:

1. Represents acquisition of common stock upon vesting of restricted stock units.

2. Represents sale of securities on the open market to satisfy tax obligations upon the vesting of restricted stock units pursuant to the terms of the award agreement.

3. Each restricted stock unit represents the right to receive one share of the Issuer's common stock.

4. Represents shares of performance based restricted stock units granted to the filing person on February 23, 2022. The vesting of the shares of performance based restricted stock units was conditioned upon the achievement of certain 2022 and 2023 adjusted free cash flow performance versus pre-established targets. The vested units represent the amount achieved.

5. Represents shares of performance based restricted stock units granted to the filing person on January 20, 2021. The vesting of the shares of performance based restricted stock units was conditioned upon the achievement of certain 2023 adjusted free cash flow performance versus pre-established targets. The vested units represent the amount achieved.

6. Represents shares of performance based restricted stock units granted to the filing person on July 2, 2021. The vesting of the shares of performance based restricted stock units was conditioned upon the achievement of certain 2023 adjusted free cash flow performance versus pre-established targets. The vested units represent the amount achieved.

Remarks:

All holdings herein have been adjusted to reflect the Company's 1-for-10 reverse stock split effected on August 3, 2023.

	/s/ Laura Anne Kenwick, as-attorney-in-fact	02/27/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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