NCS Multistage (NCSM) CEO logs new stock awards and tax share disposals

Rhea-AI Filing Summary

NCS Multistage Holdings, Inc. director and Chief Executive Officer Ryan Hummer reported a mix of equity awards, conversions and share dispositions. On February 28, 2026, 10,211 equivalent stock units vested and were exercised into common stock, with related common shares partly surrendered to the issuer and partly used to cover tax obligations at prices noted in the filing.

On March 2–3, 2026, Hummer received additional grants of common stock, equivalent stock units and performance stock units at no cash cost, increasing his directly held common stock and derivative awards. The performance stock units can ultimately settle for between zero and 1.25 shares of common stock per unit in the first quarter of 2029, based on relative total shareholder return and an absolute return modifier.

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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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^*

Hummer Ryan

(Last) (First) (Middle)

C/O NCS MULTISTAGE HOLDINGS, INC.

19350 STATE HIGHWAY 249, SUITE 600

(Street)

HOUSTON TX 77070

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NCS Multistage Holdings, Inc. [ NCSM ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/28/2026

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	02/28/2026		M(1)		10,211	A	$0	43,594	D
Common Stock	02/28/2026		F(1)		10,211	D	$39.84	33,383	D
Common Stock	02/28/2026		D		588(2)	D	$39.84	32,795	D
Common Stock	03/02/2026		A		30,844	A	$0	63,639	D
Common Stock	03/02/2026		D		10,424(3)	D	$40.93	53,215	D
Common Stock	03/03/2026		A		5,679	A	$0	58,894(4)	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
Equivalent Stock Units	(5)	02/28/2026		M(1)			10,211	(6)	(6)	Common Stock	10,211	$0	12,623	D
Equivalent Stock Units	(5)	03/03/2026		A		5,679		(7)	(7)	Common Stock	5,679	$0	18,302	D
Performance Stock Units	(8)	03/03/2026		A		11,474		(8)	12/31/2028	Common Stock	11,474	$0	11,474	D

Explanation of Responses:

1. Equivalent stock units vested on February 28, 2026 and settled for cash.

2. These shares were surrendered to satisfy the tax obligations related to the vesting of restricted stock units.

3. These shares were surrendered to satisfy the tax obligations related to the vesting of performance stock units.

4. Includes 4,826 restricted stock units which vest in two equal annual installments beginning on February 28, 2027 and 5,679 restricted stock units which vest in three equal annual installments beginning on February 28, 2027.

5. These equivalent stock units settle in cash and represent the economic equivalent of one share of common stock, provided that the amount of cash settled for any equivalent stock unit will not exceed the maximum payout established by the Compensation, Nominating and Governance Committee.

6. The number of derivative securities reported in column 9 represents 7,797 equivalent stock units which vest on February 28, 2027 and 4,826 equivalent stock units which vest in two equal annual installments beginning on February 28, 2027.

7. The number of derivative securities reported in column 9 represents 7,797 equivalent stock units which vest on February 28, 2027, 4,826 equivalent stock units which vest in two equal annual installments beginning on February 28, 2027 and 5,679 equivalent stock units which vest in three equal annual installments beginning on February 28, 2027.

8. These performance stock units represent a contingent right to receive common stock, based on the Issuer's relative total shareholder return versus that of its peer group, subject to an absolute total shareholder return modifier. Each performance stock unit will settle for between zero and 1.25 shares of common stock in the first quarter of 2029, based on achievement of the performance measures over a three-year period, following certification by the Compensation, Nominating and Governance Committee of the performance results.

	/s/ Ori Lev, attorney-in-fact	03/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did NCSM CEO Ryan Hummer report in this Form 4?

Ryan Hummer reported equity awards, derivative conversions, and share dispositions. He received common stock, equivalent stock units, and performance stock units, while some common shares were surrendered back to the issuer and to cover tax obligations tied to vesting events.

How many NCSM performance stock units were granted to the CEO in this filing?

The filing shows a grant of 11,474 performance stock units to CEO Ryan Hummer. Each unit represents a contingent right to receive common stock, with the ultimate payout tied to relative total shareholder return and an absolute total shareholder return modifier over a three-year period.

How will NCSM performance stock units for the CEO ultimately settle?

Each performance stock unit will settle for between zero and 1.25 shares of common stock. Settlement is expected in the first quarter of 2029, after the Compensation, Nominating and Governance Committee certifies performance over a three-year period based on relative and absolute total shareholder return.

Were any NCSM shares disposed of to cover tax obligations in this Form 4?

Yes. The filing states that some common shares were surrendered to satisfy tax obligations related to vesting of restricted and performance stock units. These disposals are coded as tax-withholding and dispositions to the issuer, rather than open-market sales by the CEO.

What are NCSM equivalent stock units reported by the CEO and how do they settle?

The equivalent stock units represent the economic equivalent of one share of common stock but settle in cash. The filing notes that cash paid per equivalent stock unit cannot exceed a maximum payout established by the Compensation, Nominating and Governance Committee overseeing the company’s compensation programs.

When do the CEO’s NCSM restricted and equivalent stock units vest?

Footnotes indicate several vesting schedules. Certain equivalent stock units vested on February 28, 2026, while other equivalent and restricted stock units vest on February 28, 2027, or in two or three equal annual installments beginning on that date, subject to the specific grant terms.