National CineMedia, Inc. filed a Form 8-K on November 10, 2026, disclosing that Chief Executive Officer Thomas F. Lesinski will retire and depart the Board of Directors effective December 31, 2026, under a formal transition and separation agreement.

Key Highlights

  • CEO retirement announced: Thomas F. Lesinski will retire as Chief Executive Officer and as a Board member, with an anticipated departure date of December 31, 2026.
  • Successor search launched: The Board has commenced a formal search process to identify a successor chief executive officer.
  • Severance payment: Lesinski will receive a severance payment of $3,000,000 (minus applicable deductions and withholdings), payable over the 12-month period following December 31, 2026.
  • COBRA coverage: Lesinski is entitled to COBRA continuation for up to 12 months following the Transition Date.
  • 2026 bonus eligibility: Lesinski remains eligible for payment of any annual bonus earned in respect of the 2026 performance year.
  • Equity awards: Outstanding equity-based awards will generally receive pro-rata vesting through the Transition Date, with performance-based stock units remaining eligible to vest based on actual performance.

Lesinski Transition and Separation Terms at National CineMedia

According to the filing, National CineMedia, Inc. (NASDAQ:NCMI) disclosed on November 10, 2026, that Thomas F. Lesinski, the company's Chief Executive Officer, will retire from that role and from the Board of Directors. The company described an anticipated departure date of December 31, 2026, referred to in the filing as the "Transition Date." The filing states that Lesinski will continue to serve as Chief Executive Officer and support the transition through the Transition Date "to ensure continuity during this period."

In connection with the separation, the company and Lesinski entered into a Transition and Separation Agreement and General Release dated November 9, 2026. The filing specifies that Lesinski will receive a severance payment of $3,000,000 (minus applicable deductions and withholdings), to be paid over the 12-month period following the Transition Date, along with COBRA continuation coverage for up to 12 months. The filing further states that he remains eligible for payment of any annual bonus earned in respect of the 2026 performance year.

Regarding equity compensation, the filing states that Lesinski will "generally receive pro-rata vesting through the Transition Date" for outstanding equity-based awards. For outstanding performance-based stock units specifically, the filing notes he "will remain eligible to vest in all or a portion of such awards based on actual performance achieved in respect of the applicable performance period." The filing conditions all payments and benefits on Lesinski's execution and non-revocation of an effective release of claims and continued compliance with his restrictive covenants. The filing was signed by Ronnie Y. Ng, Chief Financial Officer.

What Was Disclosed

National CineMedia disclosed the planned retirement of CEO Thomas F. Lesinski effective December 31, 2026, the terms of his separation agreement including a $3,000,000 severance payment, COBRA coverage, bonus eligibility, and equity award treatment, and the Board's launch of a formal CEO search.