Equity Plans

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Equity Plans

Equity Plans

In March 2022, AMC Networks granted 628,508 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.

During the three months ended March 31, 2022, 614,821 RSUs and 344,157 performance restricted stock units (PRSUs) of AMC Networks Class A Common Stock previously issued to employees of the Company vested. On the vesting date, 261,945 RSUs and 155,103 PRSUs were surrendered to the Company to cover the required statutory tax withholding obligations and 352,876 RSU and 189,054 PRSU new shares of AMC Networks Class A Common Stock were issued. Units are surrendered to satisfy the employees' statutory minimum tax withholding obligations for the applicable income and other

employment tax. All units surrendered during the quarter had an aggregate value of $20.3 million, which has been reflected as a financing activity in the condensed consolidated statement of cash flows for the three months ended March 31, 2022.

Share-based compensation expenses included in selling, general and administrative expenses were $8.1 million and $13.4 million for the three months ended March 31, 2022 and 2021, respectively.

As of March 31, 2022, there was $41.8 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 2.4 years.