CSG CEO granted 37,175 restricted shares

CSG Systems International President & CEO Brian Shepherd was granted 37,175 shares of time-based restricted common stock at $0 per share.

Rhea-AI Filing Summary

CSG Systems International President & CEO Brian Shepherd was granted 37,175 shares of time-based restricted common stock at $0 per share. These shares were awarded on January 20, 2026 and are scheduled to vest on March 10, 2027, meaning he will receive full ownership only if the vesting conditions are met through that date. After this grant, Shepherd directly beneficially owns 575,191 shares of CSG Systems International common stock.

Insider Trade Summary

Grant/Award: 37,175 shares

Grant/Award 1 txn

Insider Shepherd Brian A.

Role President & CEO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	37,175	$0.00	$0.00

Holdings After Transaction: Common Stock — 575,191 shares (Direct)

Footnotes (1)

1. F1. Represents shares of time-based restricted stock which vest on March 10, 2027.

FAQ

What insider transaction did CSGS report for Brian Shepherd?

CSG Systems International reported that President & CEO Brian Shepherd received an award of 37,175 shares of common stock as time-based restricted stock on January 20, 2026.

What type of shares did the CSGS CEO receive in this Form 4?

The CEO received time-based restricted stock, totaling 37,175 shares of common stock, which are subject to vesting conditions.

When do Brian Shepherd's 37,175 restricted CSGS shares vest?

The 37,175 shares of time-based restricted stock are scheduled to vest on March 10, 2027.

Did Brian Shepherd pay anything for the 37,175 CSGS shares?

The Form 4 shows the shares were acquired at a price of $0 per share, indicating they were granted as equity compensation rather than purchased in the market.

How many CSGS shares does the CEO own after this grant?

Following the reported transaction, Brian Shepherd beneficially owns 575,191 shares of CSG Systems International common stock in direct ownership.

Is this CSGS insider transaction a direct or indirect holding?

The filing lists the CEO's holdings as direct ownership (D), meaning the shares are held in his name rather than through an intermediary entity.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 01/22/2026 - 05:27 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Shepherd Brian A.

(Last) (First) (Middle)

169 INVERNESS DR. W

SUITE 300

(Street)

ENGLEWOOD CO 80112

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CSG SYSTEMS INTERNATIONAL INC [ CSGS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
01/20/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/20/2026		A		37,175(1)	A	$0	575,191	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares of time-based restricted stock which vest on March 10, 2027.

	/s/ Angela Lantzy, attorney-in-fact for Brian Shepherd	01/22/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.