[Form 4] Shift4 Payments, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Shift4 Payments reported that Christopher Nestor Cruz resigned from the company’s Board of Directors effective August 5, 2025 and has been appointed Chief Financial Officer effective September 1, 2025. The Form 4 discloses two awards of restricted stock units granted in connection with his new employment agreement and reported as acquisitions on August 6, 2025: 121,655 RSUs that vest in three equal annual installments beginning on the first anniversary of August 5, 2025, and 97,324 RSUs that vest in two equal annual installments on the fourth and fifth anniversaries of August 5, 2025. The form shows a price column of $82.2 and a total of 218,979 RSUs granted. The Form 4 was signed by an attorney-in-fact on August 8, 2025.

Insights

Financial Analyst

TL;DR: Officer transition with equity awards totaling 218,979 RSUs; multi-year vesting ties compensation to continued service.

The filing documents two RSU awards totaling 218,979 Class A shares granted under Cruz’s new employment agreement and reported as acquisitions on August 6, 2025. One award of 121,655 RSUs vests in three equal annual installments starting on the first anniversary of August 5, 2025; the second award of 97,324 RSUs vests in two equal installments on the fourth and fifth anniversaries. These schedules indicate retention-oriented compensation spanning up to five years. The transaction is reported in connection with Cruz’s transition from a board seat (resigned August 5, 2025) to CFO (effective September 1, 2025). From a financial perspective, the disclosure is routine compensation documentation rather than operating or performance results.

Corporate Governance Expert

TL;DR: Director resignation and CFO appointment formalized with employment-linked RSU awards and standard staggered vesting.

The Form 4 records Cruz’s resignation as a director effective August 5, 2025 and his appointment as Chief Financial Officer effective September 1, 2025. Equity awards are tied explicitly to the terms of his new employment agreement and include clear vesting conditions: one tranche vests over three years and a second tranche vests on years four and five, each contingent on continued service. The filing was voluntarily reported and executed by an attorney-in-fact on August 8, 2025. This is a governance-level disclosure of executive hiring and compensation, without additional context on change-of-control protection or other governance provisions in the filing.

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

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X

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^*

Cruz Christopher Nestor

(Last) (First) (Middle)

3501 CORPORATE PARKWAY

(Street)

CENTER VALLEY PA 18034

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Shift4 Payments, Inc. [ FOUR ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
08/06/2025

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
Class A Common Stock	08/06/2025		A	V	121,655(1)	A	$82.2	132,324	D
Class A Common Stock	08/06/2025		A	V	97,324(2)	A	$82.2	229,648	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 an award of restricted stock units, pursuant to a special award granted to the Reporting Person in connection with the terms of his new employment agreement entered into with the Issuer, effective August 5, 2025. The restricted stock units will vest in three equal annual installments of 1/3 each, on each of the first three anniversaries of August 5, 2025, subject to the Reporting Person's continued service.

2. Represents an award of restricted stock units, pursuant to a special award granted to the Reporting Person in connection with the terms of his new employment agreement entered into with the Issuer, effective August 5, 2025. The restricted stock units will vest in two equal annual installments of 1/2 each, on each of the fourth and fifth anniversaries of August 5, 2025, subject to the Reporting Person's continued service.

Remarks:

Chief Financial Officer-Designate The Reporting Person resigned as a member of the Company's Board of Directors, effective as of August 5, 2025, and has been appointed as the Company's Chief Financial Officer, effective as of September 1, 2025. As a result, the Reporting Person is voluntarily reporting these transactions on Form 4.

	/s/ Jordan Frankel, Attorney-in-Fact for Christopher Nestor Cruz	08/08/2025
	** 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).
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