Patrick Dolan
AMC NetworksAbout Patrick F. Dolan
Patrick F. Dolan (age 73) has served on AMCX’s Board since June 2011. He is a member of the Dolan family control group and previously led News 12 Networks and is majority owner of Newsday Media Group, bringing operating experience in local media. He is a Class B director and is not independent under NASDAQ rules; AMCX is a controlled company with 54% of directors independent overall .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| News 12 Networks (Altice N.V. subsidiary) | Senior Network Advisor | Apr 2018 – Oct 2018 | Advisory role post-president tenure |
| News 12 Networks | President | Feb 2002 – Apr 2018 | Led local news operations; Cablevision legacy asset |
| News 12 Networks | Vice President | Sep 1995 – Feb 2002 | Senior management |
| Cablevision Systems Corporation | Director (prior) | Not disclosed | Family stewardship; industry experience |
| Newsday Media Group | Majority Owner | Since Jul 2016 | Ownership and governance of regional media asset |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Newsday Media Group | Majority Owner | Since Jul 2016 | Private company; not an AMCX affiliate |
| Cablevision Systems Corporation | Director (prior) | Not disclosed | Historical public company role |
| Current public company boards | — | — | None disclosed for Patrick F. Dolan |
Board Governance
- Committee memberships: None disclosed for Patrick F. Dolan; among Class B directors, only Vincent Tese sits on Compensation; Audit and Compensation committees are fully independent and chaired by Class A directors .
- Independence status: Not independent; AMCX is treated as a controlled company. Independent directors: Blank, Cohen, Mills, Tese, Vogel, Tow, Perelman (Patrick not listed) .
- Attendance and engagement: Board met 6 times in 2024; each director attended at least 75% of Board and applicable committee meetings; all 13 directors elected in 2024 attended the annual meeting .
- Executive sessions: Independent directors meet in executive session at least twice annually, led by independent Class A committee chairs .
- Governance structure: Class B holders can elect up to 75% of the Board; Dolan family group collectively controls stockholder decisions on joint-class votes via Class B voting power .
Fixed Compensation
| Component | 2024 Amount | Terms |
|---|---|---|
| Cash fees | $82,000 | Base retainer $70,000; $2,000 per meeting; committee retainers $25,000 (not applicable to Patrick); non-exec chair fee $200,000 (applies to J. Dolan) |
| RSU grant (fair value) | $127,868 | 8,042 RSUs granted June 12, 2024 at $15.90 close; RSUs vest on grant date and settle 90 days after Board service ends |
Performance Compensation
| Element | Performance Metrics | Vesting/Conditions | Notes |
|---|---|---|---|
| Annual director equity (RSUs) | None (director grants are not performance-based) | Vest on grant; settle 90 days post-service | No dividends on unvested equity; hedging/short sales prohibited; pledging prohibited; trading by directors requires pre-approval |
| Options/PSUs | None disclosed | — | No option awards or PSUs for directors in 2024 |
Other Directorships & Interlocks
| Entity | Relationship | Potential Interlock/Conflict Vector |
|---|---|---|
| MSG Sports, Sphere Entertainment, MSG Entertainment | Multiple AMCX directors (not Patrick) also serve; J. Dolan chairs these companies | Overlapping boards and officers create potential conflicts on corporate opportunities and transactions; managed via independent committee policies |
| Dolan Family Committee | Patrick is a voting member (one of the Dolan siblings) | Drives block voting of Class B under the Stockholders Agreement; Excluded Trusts own ~77.1% of Class B; strengthens family control |
Expertise & Qualifications
- Operational expertise in local news/media as President of News 12 and owner of Newsday; long-tenured Cablevision experience .
- Institutional knowledge of AMCX’s legacy and strategy from decade-plus Board service .
Equity Ownership
| Security | Beneficial Ownership | Percent of Class | Combined Voting Power |
|---|---|---|---|
| Class A Common Stock | 56,479 shares | * | 9.78% |
| Class B Common Stock | 1,449,583 shares | 12.62% | — |
| RSUs held (unsettled) | 50,284 units | — | No voting rights prior to settlement |
| Breakdown notes | Personal: 6,195 Class A; 24,444 Class B; shared: 886,015 Class B (Dolan Children Trust FBO Patrick), 61,790 Class B (2009 Family Trust FBO Patrick), 375,302 Class B (CFD 2021 GC Trusts), 102,032 Class B (Patrick F. Dolan 2012 Descendants Trust); Patrick disclaims beneficial ownership of shared trust holdings as noted . |
Governance Assessment
- Independence and committee work: Patrick is a non-independent Class B director with no committee assignments, limiting his role in independent oversight of audit/comp matters .
- Attendance: Meets minimum engagement threshold (≥75% meetings attended in 2024; attended annual meeting), supporting baseline board effectiveness .
- Compensation alignment: Director pay is standard (cash retainer + RSUs). RSUs vest immediately and settle post-service, which defers monetization but lacks performance linkage; policies prohibit hedging/pledging and dividends on unvested equity, partially supporting alignment .
- Ownership and control: Material Class B ownership and participation in the Dolan Family Committee provide significant voting influence (family group: 100% of Class B; 78.02% combined voting power), a control dynamic that can override minority Class A preferences .
- Related party safeguards: AMCX uses a committee of independent directors to approve related-party transactions (> $120,000) and has a special approval policy for Dolan-affiliate companies (> $1 million), with audit committee quarterly reviews; nonetheless, overlapping directors/officers and charter-level corporate opportunity renunciation elevate conflict risk .
RED FLAGS
- Controlled company structure and family block voting via Dolan Family Committee, with Patrick as a voting member, present heightened entrenchment and minority shareholder risk .
- Overlap policy renounces certain corporate opportunities to Dolan-affiliated entities (MSG Sports, Sphere Entertainment, MSG Entertainment), increasing potential for perceived conflicts of interest .
- Immediate vesting of director RSUs without performance conditions reduces pay-for-performance linkage for board compensation .