NCS Multistage (NCSM) CFO logs equity awards, cash-settled units and tax share surrenders

Rhea-AI Filing Summary

NCS Multistage Holdings CFO & Treasurer Michael L. Morrison reported a mix of equity awards, vesting events, and related share dispositions. On February 28, 2026, 4,972 equivalent stock units vested and were settled in cash, and 4,972 shares of common stock were issued, with 4,972 shares and an additional 262 shares of common stock surrendered to cover tax obligations and dispositions to the issuer at prices of $39.84 per share.

On March 2, 2026, he acquired 7,996 shares of common stock at a stated price of $0.00 per share, with 2,019 shares disposed to the issuer at $40.93 per share. On March 3, 2026, he received 2,463 equivalent stock units and 2,463 shares of common stock tied to restricted stock units, as well as 4,978 performance stock units that can 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 performance.

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^*

MORRISON MICHAEL L

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CFO & Treasurer

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)		4,972	A	$0	12,451	D
Common Stock	02/28/2026		F(1)		4,972	D	$39.84	7,479	D
Common Stock	02/28/2026		D		262(2)	D	$39.84	7,217	D
Common Stock	03/02/2026		A		7,996	A	$0	15,213	D
Common Stock	03/02/2026		D		2,019(3)	D	$40.93	13,194	D
Common Stock	03/03/2026		A		2,463	A	$0	15,657(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)			4,972	(6)	(6)	Common Stock	4,972	$0	6,043	D
Equivalent Stock Units	(5)	03/03/2026		A		2,463		(7)	(7)	Common Stock	2,463	$0	8,506	D
Performance Stock Units	(8)	03/03/2026		A		4,978		(8)	12/31/2028	Common Stock	4,978	$0	4,978	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 2,145 restricted stock units which vest in two equal annual installments beginning on February 28, 2027 and 2,463 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 3,898 equivalent stock units which vest on February 28, 2027 and 2,145 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 3,898 equivalent stock units which vest on February 28, 2027, 2,145 equivalent stock units which vest in two equal annual installments beginning on February 28, 2027 and 2,463 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 did NCSM CFO Michael Morrison report in this Form 4 filing?

Michael Morrison reported equity awards, vesting events, and related share dispositions. The filing details common stock, equivalent stock units settled in cash, and performance stock units tied to future performance, including shares surrendered to satisfy tax obligations and dispositions back to the issuer.

How many performance stock units did NCSM grant to its CFO in this filing?

NCS Multistage granted Michael Morrison 4,978 performance stock units on March 3, 2026. Each unit can settle for between zero and 1.25 shares of common stock in the first quarter of 2029, depending on relative total shareholder return performance and committee certification.

Were any NCSM equivalent stock units settled for cash in this Form 4?

Yes. 4,972 equivalent stock units vested on February 28, 2026 and were settled for cash. These units represent the economic equivalent of one share of common stock, subject to a maximum payout set by the Compensation, Nominating and Governance Committee.

Why did the NCSM CFO dispose of some common stock in this Form 4?

Some common shares were surrendered to cover tax obligations and dispositions to the issuer. 4,972 shares were delivered to satisfy tax liabilities from restricted stock vesting, and additional shares were disposed to the issuer at specified per-share prices disclosed in the filing.

What vesting schedule applies to the NCSM restricted and equivalent stock units?

The filing notes 2,145 restricted stock units vesting in two equal annual installments beginning February 28, 2027, and 2,463 restricted stock units vesting in three equal annual installments beginning the same date. Certain equivalent stock units also vest on February 28, 2027 or in later installments.

When will the NCSM performance stock units for the CFO settle?

The performance stock units are scheduled to settle in the first quarter of 2029. Settlement amounts depend on the issuer’s relative total shareholder return versus its peer group, plus an absolute total shareholder return modifier, following committee certification of the performance results.