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EVERTEC (EVTC) CFO logs RSU vesting gain and tax share withholding in Form 4

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

EVERTEC, Inc. Executive Vice President and CFO Joaquin A. Castrillo-Salgado reported equity compensation-related transactions in company common stock. He acquired 31,163 shares at $28.35 per share through the vesting of performance-based restricted stock units earned on the company’s 2023 adjusted EBITDA performance, subject to a total shareholder return modifier over a three-year period. In a separate transaction, 17,931 shares at $28.35 per share were withheld by the company to cover his tax liabilities tied to the vesting of multiple performance-based and time-based RSU grants. After these transactions, he directly owned 94,440 shares of EVERTEC common stock.

Positive

  • None.

Negative

  • None.
Insider Castrillo-Salgado Joaquin A.
Role EVP & CFO
Type Security Shares Price Value
Grant/Award Common Stock 31,163 $28.35 $883K
Tax Withholding Common Stock 17,931 $28.35 $508K
Holdings After Transaction: Common Stock — 112,371 shares (Direct)
Footnotes (1)
  1. Represents shares of fully vested stock issued as a result of the vesting of performance-based restricted stock units ("RSUs"), which were originally granted on February 24, 2023 and earned based on the Issuer's achievement of an adjusted EBITDA target for 2023, subject to a total shareholder return modifier over a three-year performance period. Represents shares of common stock withheld by the Issuer to pay the tax liability of the Reporting Person as follows: (i) 11,176 shares withheld in connection with the vesting of performance-based RSUs granted on February 24, 2023; (ii) 2,129 shares withheld in connection with the vesting of time-based RSUs granted on February 24, 2023; (iii) 2,165 shares withheld in connection with the vesting of time-based RSUs granted on February 29, 2024; and (iv) 2,461 shares withheld in connection with the vesting of time-based RSUs granted on February 28, 2025.
Form 4 Insider Transactions: What Each Field Means →
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*
Castrillo-Salgado Joaquin A.
(Last) (First) (Middle)
PO BOX 364527
(Street)
SAN JUAN PR 00936-4527
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
EVERTEC, Inc. [ EVTC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP & CFO
3. Date of Earliest Transaction (Month/Day/Year)
03/03/2026
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 03/03/2026 A 31,163(1) A $28.35 112,371 D
Common Stock 03/03/2026 F 17,931(2) D $28.35 94,440 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 fully vested stock issued as a result of the vesting of performance-based restricted stock units ("RSUs"), which were originally granted on February 24, 2023 and earned based on the Issuer's achievement of an adjusted EBITDA target for 2023, subject to a total shareholder return modifier over a three-year performance period.
2. Represents shares of common stock withheld by the Issuer to pay the tax liability of the Reporting Person as follows: (i) 11,176 shares withheld in connection with the vesting of performance-based RSUs granted on February 24, 2023; (ii) 2,129 shares withheld in connection with the vesting of time-based RSUs granted on February 24, 2023; (iii) 2,165 shares withheld in connection with the vesting of time-based RSUs granted on February 29, 2024; and (iv) 2,461 shares withheld in connection with the vesting of time-based RSUs granted on February 28, 2025.
Remarks:
/s/Adriana Velez Rivera by Power of Attorney 03/05/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did EVTC CFO Joaquin Castrillo-Salgado report?

He reported an equity award vesting and related tax withholding. 31,163 shares vested from performance-based RSUs, while 17,931 shares were withheld by EVERTEC to satisfy tax liabilities from several RSU vestings.

Were EVTC CFO Joaquin Castrillo-Salgado’s Form 4 transactions open-market buys or sells?

No, the transactions were compensation-related. Shares were acquired through the vesting of performance-based RSUs, and shares were disposed of only via tax withholding by EVERTEC to cover his associated tax obligations on multiple RSU vestings.

How many EVTC shares did the CFO acquire through RSU vesting?

He acquired 31,163 EVERTEC common shares via vesting of performance-based RSUs. These RSUs were originally granted on February 24, 2023 and were earned based on 2023 adjusted EBITDA, modified by a three-year total shareholder return performance period.

How many EVTC shares were withheld to cover the CFO’s taxes?

EVERTEC withheld 17,931 shares of common stock to cover his tax liabilities. The withholding related to vesting of performance-based RSUs from 2023 and time-based RSUs granted in 2023, 2024, and 2025, as detailed in the filing footnotes.

What is Joaquin Castrillo-Salgado’s EVTC share ownership after these transactions?

Following the reported Form 4 transactions, he directly owned 94,440 shares of EVERTEC common stock. This figure reflects the net result after the vesting-related share acquisition and the shares withheld by the company to satisfy his tax obligations.

What performance conditions were tied to the EVTC CFO’s performance-based RSUs?

The performance-based RSUs vested based on EVERTEC’s adjusted EBITDA target for 2023. Their final payout was also subject to a total shareholder return modifier measured over a three-year performance period beginning from the original February 24, 2023 grant date.