Equity Plans

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Equity Plans

Equity PlansIn March 2021, AMC Networks granted 535,278 restricted stock units (RSUs) to certain executive officers and employees under the AMC Networks Inc. Amended and Restated 2016 Employee Stock Plan. The RSUs vest ratably over a three-year period and the vesting criteria for 178,764 RSUs include the achievement of certain performance targets by the Company.

During the three months ended March 31, 2021, 617,051 RSUs and 368,296 performance restricted stock units (PRSUs) of AMC Networks Class A Common Stock previously issued to employees of the Company vested. On the vesting date, 263,671 RSUs and 168,712 PRSUs were surrendered to the Company to cover the required statutory tax withholding obligations and 353,380 RSU and 199,584 PRSU new shares of AMC Networks Class A Common Stock were issued. The units surrendered to satisfy the employees' statutory minimum tax withholding obligations for the applicable income and other employment tax had an aggregate value of $34.6 million, which has been reflected as a financing activity in the condensed consolidated statement of cash flows for the three months ended March 31, 2021.

Share-based compensation expense included in selling, general and administrative expense was $13.4 million and $15.5 million for the three months ended March 31, 2021 and March 31, 2020, respectively.

As of March 31, 2021, there was $58.8 million of total unrecognized share-based compensation cost related to outstanding unvested share-based awards. The unrecognized compensation cost is expected to be recognized over a weighted-average remaining period of approximately 2.0 years.