CCSI CFO exercises PSUs, shares withheld for tax
Consensus Cloud Solutions Chief Financial Officer Adam Varon reported routine equity compensation activity involving performance stock units (PSUs).
Rhea-AI Filing Summary
Consensus Cloud Solutions Chief Financial Officer Adam Varon reported routine equity compensation activity involving performance stock units (PSUs). On June 29, he exercised PSUs covering 1,250 shares of common stock, converting them at an exercise price of $0.00 per share.
To cover the related tax liability, 523 common shares were withheld at a price of $38.26 per share, a non‑market, tax-withholding disposition rather than an open-market sale. Following these transactions, he directly held 43,590 common shares. The vesting reflected achievement of a stock price performance condition requiring the share price to close at or above $33.39 for at least 20 out of 30 consecutive trading days after a December 7, 2023 PSU grant.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,250 shares exercised/converted
Exercise
3 txns
Insider
Varon Adam
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Stock Unit | 1,250 | $0.00 | $0.00 |
| Exercise | Common Stock | 1,250 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 523 | $38.26 | $20K |
Holdings After Transaction:
Performance Stock Unit — 0 contracts (Direct);
Common Stock — 43,590 shares (Direct)
Footnotes (2)
- F1. Payment for a tax liability by withholding securities incident to vesting of a certain Performance Stock Unit.
- F2. This vesting event signifies the achievement of the fourth of four stock price performance conditions associated with a grant of performance share units ("PSUs") made on December 7, 2023. The condition was met when the Company's common stock closed at or above $33.39 for at least twenty (20) trading days within a period of thirty (30) consecutive trading days and the grant reached its first anniversary. Each PSU represents a contingent right to receive one share of the Company's common stock.
Key Figures
Tax-withholding shares: 523 shares
Shares from PSU exercise: 1,250 shares
Tax withholding price: $38.26 per share
+4 more
7 metrics
Tax-withholding shares
523 shares
Common stock withheld for tax liability at $38.26 per share
Shares from PSU exercise
1,250 shares
Common stock received from exercising performance stock units
Tax withholding price
$38.26 per share
Value used for withholding 523 common shares
Shares held after transactions
44,113 shares
Direct CCSI common stock holdings following June 29, 2026 activity
PSU performance price hurdle
$33.39
Required closing price for at least 20 of 30 consecutive trading days
Trading days requirement
20 of 30 days
Stock had to close at or above $33.39 for PSU vesting
PSU grant date
December 7, 2023
Grant date of performance share units tied to this vesting
Key Terms
Performance Stock Unit, tax liability, withholding securities, stock price performance conditions, +1 more
5 terms
Performance Stock Unit financial
"Performance Stock Unit, each representing a contingent right to receive one share"
A performance stock unit is a type of reward companies give to employees, usually managers, that depends on how well the company performs over time. If the company hits specific goals, the employee earns shares of stock, like earning a prize for reaching certain levels in a game. It motivates employees to work hard because their rewards are tied to the company's success.
tax liability financial
"Payment for a tax liability by withholding securities incident to vesting"
withholding securities financial
"Payment for a tax liability by withholding securities incident to vesting"
stock price performance conditions financial
"signifies the achievement of the fourth of four stock price performance conditions"
contingent right financial
"Each PSU represents a contingent right to receive one share of the Company's common stock"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did CCSI CFO Adam Varon report on June 29, 2026?
CCSI CFO Adam Varon exercised performance stock units into 1,250 shares of common stock. As part of the same event, some shares were withheld to cover taxes, resulting in a modest net increase in his direct shareholdings.
What performance condition triggered the CCSI PSU vesting for the CFO?
The vesting reflected achievement of the fourth stock price performance condition from a December 7, 2023 PSU grant. CCSI’s stock had to close at or above $33.39 for at least 20 trading days within a 30-day consecutive trading period.
Are the CCSI CFO’s reported transactions open-market buys or sells?
The transactions are not open-market trades. They involve exercising performance stock units into common shares and withholding 523 shares to cover tax obligations, which is a routine administrative disposition rather than a discretionary market buy or sale.
What does each CCSI performance stock unit represent in this Form 4?
Each performance stock unit (PSU) represents a contingent right to receive one share of CCSI common stock. Upon satisfaction of specified stock price performance and time-based conditions, these PSUs convert into an equivalent number of common shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
