BlackBerry (BB) CLO Philip S. Kurtz sells shares, exercises RSUs in tax-cover trades
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
BlackBerry Limited’s Chief Legal Officer and Corporate Secretary, Philip S. Kurtz, reported routine equity transactions. He exercised 10,908 Restricted Share Units into common shares and sold 6,414 common shares in open‑market transactions primarily to cover withholding taxes upon RSU vesting. After these transactions, he directly holds 131,572 common shares and 119,982 Restricted Share Units that remain outstanding.
Positive
- None.
Negative
- None.
Insights
Routine RSU vesting with tax-cover sales; position in BlackBerry equity remains substantial.
CLO Philip S. Kurtz converted 10,908 Restricted Share Units into common shares and sold 6,414 shares at a weighted average of $11.07 per share. Footnotes state the sales were to cover withholding taxes upon vesting, a standard mechanism rather than a discretionary liquidation.
Following these transactions, he directly holds 131,572 common shares and 119,982 RSUs, indicating continued equity exposure. The reported sale prices ranged from $11.01 to $11.14, with amounts converted from Canadian dollars using the Bank of Canada rate on the July 9, 2026 transaction date.
Insider Trade Summary
Net Seller: 6,414 shares ($71,003)
Net Sell
3 txns
Insider
Kurtz Philip S.
Role
CLO & Corp. Secretary
Sold
6,414 shs ($71K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Share Units | 10,908 | $0.00 | -- |
| Exercise | Common Shares | 10,908 | $0.00 | -- |
| Sale | Common Shares | 6,414 | $11.07 | $71K |
Holdings After Transaction:
Restricted Share Units — 119,982 shares (Direct, null);
Common Shares — 131,572 shares (Direct, null)
Footnotes (1)
- Each unit represents a contingent right to receive one common share or an equivalent amount of cash, or a combination of the two, at the discretion of BlackBerry Limited. Sales to cover withholding taxes upon vesting of Restricted Share Units ("RSUs")". The price reported was converted from Canadian dollars to U.S. dollars using the Bank of Canada exchange rate on the transaction date. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.01 to $11.14, exclusive of any fees, commissions or other expenses. The Reporting Person undertakes to provide BlackBerry, any shareholder of BlackBerry, or the Staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. This award was granted on April 9, 2026 and, assuming continued employment through the applicable vesting date, vests in twelve equal quarterly installments ending April 9, 2029.
Key Figures
Shares sold: 6,414 common shares
Weighted average sale price: $11.07 per share
Shares acquired via RSU exercise: 10,908 common shares
+3 more
6 metrics
Shares sold
6,414 common shares
Open-market sale on July 9, 2026 to cover withholding taxes
Weighted average sale price
$11.07 per share
Common shares sold in multiple transactions between $11.01 and $11.14
Shares acquired via RSU exercise
10,908 common shares
Conversion of Restricted Share Units into common shares on July 9, 2026
Common shares held after transactions
131,572 common shares
Direct holdings of Philip S. Kurtz following the reported transactions
Restricted Share Units remaining
119,982 RSUs
Outstanding Restricted Share Units after the derivative transaction
RSU award grant date
April 9, 2026
Award vests in twelve equal quarterly installments ending April 9, 2029
Key Terms
Restricted Share Units, weighted average price, withholding taxes, contingent right
4 terms
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
withholding taxes financial
"Sales to cover withholding taxes upon vesting of Restricted Share Units"
Withholding taxes are amounts a payer or government takes out of payments — such as wages, interest, or dividends — before the recipient gets the money, functioning like a cashier keeping part of a bill to pay taxes on your behalf. For investors this matters because it reduces the cash they actually receive, affects net returns and yield calculations, and may require additional paperwork or treaty claims to recover or offset the withheld amount against final tax bills.
contingent right financial
"Each unit represents a contingent right to receive one common share..."
FAQ
What did BlackBerry (BB) officer Philip S. Kurtz report in this Form 4?
Philip S. Kurtz reported exercising 10,908 Restricted Share Units into common shares and selling 6,414 common shares. The sales were conducted as open-market transactions primarily to cover withholding taxes upon RSU vesting.
What are Philip S. Kurtz’s BlackBerry (BB) holdings after these transactions?
After the reported transactions, Philip S. Kurtz directly holds 131,572 common shares of BlackBerry Limited and has 119,982 Restricted Share Units outstanding, reflecting ongoing exposure to the company’s equity.
How were currency and pricing handled in Philip S. Kurtz’s BlackBerry (BB) Form 4?
The reported sale price of $11.07 per share was converted from Canadian dollars to U.S. dollars using the Bank of Canada exchange rate on the July 9, 2026 transaction date.