Equity Plans

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Equity Plans

Equity Plans

In June 2022, AMC Networks granted 51,044 restricted stock units ("RSUs") under the 2011 Stock Plan for Non-Employee Directors to non-employee directors that vested on the date of grant.

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 June 30, 2022, 1,270 RSUs of AMC Networks Class A Common Stock previously issued to employees of the Company vested. On the vesting date, 441 RSUs were surrendered to the Company to cover the required

statutory tax withholding obligations and 829 RSU new shares of AMC Networks Class A Common Stock were issued. During the six months ended June 30, 2022, 616,091 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, 262,386 RSUs and 155,103 PRSUs were surrendered to the Company to cover the required statutory tax withholding obligations and 353,705 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 six months ended June 30, 2022 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 six months ended June 30, 2022.

Share-based compensation expenses included in selling, general and administrative expenses were $8.7 million and $16.8 million for the three and six months ended June 30, 2022, respectively and $16.3 million and $29.7 million for the three and six months ended June 30, 2021, respectively.

As of June 30, 2022, there was $35.3 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 2.2 years.