[Form 4] NCS Multistage Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

NCS Multistage Holdings (NCSM) reported insider activity by its Chief Executive Officer and Director on 11/01/2025.

The reporting person acquired 4,226 shares of common stock via a code M transaction, then surrendered 4,226 shares in a code F transaction to satisfy tax obligations related to restricted stock unit vesting, and disposed of 1,030 shares at $36.7. Following these transactions, the insider directly beneficially owned 33,383 shares.

Derivative holdings included equivalent stock units with 22,834 units beneficially owned following the reported transactions. Context: the ownership includes 7,240 restricted stock units that vest in three equal annual installments beginning on February 28, 2026, and equivalent stock units that vest in scheduled installments as disclosed.

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
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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)
11/01/2025

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
Common Stock	11/01/2025		M(1)		4,226	A	$0	38,639	D
Common Stock	11/01/2025		F(1)		4,226	D	$36.7	34,413	D
Common Stock	11/01/2025		D		1,030(2)	D	$36.7	33,383(3)	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	(4)	11/01/2025		M(1)			4,226	(5)	(5)	Common Stock	4,226	$0	22,834	D

Explanation of Responses:

1. Equivalent stock units vested on November 1, 2025 and settled for cash.

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

3. Includes 7,240 restricted stock units which vest in three equal annual installments beginning on February 28, 2026.

4. 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.

5. Includes 15,594 equivalent stock units which vest in two equal annual installments beginning on February 28, 2026 and 7,240 equivalent stock units which vest in three equal annual installments beginning on February 28, 2026.

	/s/ Ori Lev, attorney-in-fact	11/03/2025
	** 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).
** 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.

FAQ

What did NCSM’s CEO/Director report on this Form 4?

On 11/01/2025, the insider acquired 4,226 shares (code M), surrendered 4,226 for taxes (code F), and disposed of 1,030 shares at $36.7.

How many NCSM shares does the insider own after the transactions?

The insider directly beneficially owned 33,383 shares following the reported transactions.

What price was the NCSM share disposition executed at?

The disposition was reported at $36.7 per share.

Why were 4,226 NCSM shares surrendered?

They were surrendered to satisfy tax obligations related to the vesting of restricted stock units.

What derivative securities remain after the transactions?

The insider beneficially owned 22,834 equivalent stock units following the transactions.

What are the key vesting schedules mentioned for NCSM awards?

The ownership includes 7,240 RSUs vesting in three equal annual installments beginning on February 28, 2026.

What is the reporting person’s relationship to NCSM?

The reporting person is a Director and an Officer (Chief Executive Officer).