Consensus Cloud (NASDAQ: CCSI) CTO vests PSUs and withholds shares for tax
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Consensus Cloud Solutions Chief Technology Officer Jeffrey Alan Sullivan exercised performance stock units that had vested into 8,237 shares of common stock. These units vested after the company’s stock closed at or above $27.61 for at least 20 of 30 consecutive trading days and the grant reached its first anniversary. To cover related tax obligations, 4,026 shares were withheld at $30.05 per share, a non‑market tax payment rather than an open‑market sale. Following these transactions, Sullivan directly holds 104,975 shares of common stock and 16,473 performance stock units, reflecting routine compensation-related equity activity.
Positive
- None.
Negative
- None.
Insider Trade Summary
8,237 shares exercised/converted
Mixed
3 txns
Insider
Sullivan Jeffrey Alan
Role
Chief Technology Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Stock Unit | 8,237 | $0.00 | -- |
| Exercise | Common Stock | 8,237 | $0.00 | -- |
| Tax Withholding | Common Stock | 4,026 | $30.05 | $121K |
Holdings After Transaction:
Performance Stock Unit — 16,473 shares (Direct);
Common Stock — 109,001 shares (Direct)
Footnotes (1)
- Payment for a tax liability by withholding securities incident to vesting of a certain Performance Stock Unit. This vesting event signifies the achievement of the second of four stock price performance conditions associated with a grant of performance share units ("PSUs") made on December 6, 2024. The condition was met when the Company's common stock closed at or above $27.61 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.
FAQ
What insider transaction did CCSI CTO Jeffrey Alan Sullivan report?
Sullivan reported exercising performance stock units into 8,237 shares of Consensus Cloud Solutions common stock. These units vested after stock price performance conditions were met and the grant’s first anniversary passed, representing routine compensation-related equity activity rather than an open-market purchase.
What performance condition triggered Sullivan’s CCSI performance stock unit vesting?
The vesting was triggered when Consensus Cloud Solutions’ common stock closed at or above $27.61 for at least twenty trading days within a thirty-day consecutive period, and the grant reached its first anniversary, satisfying the second of four stock price performance conditions tied to the December 6, 2024 grant.
What are the terms of Jeffrey Alan Sullivan’s performance stock units at CCSI?
Each performance stock unit represents a contingent right to receive one share of Consensus Cloud Solutions common stock. Vesting depends on specified stock price performance conditions and time-based milestones, such as the stock trading at or above $27.61 and the grant reaching its first anniversary.