NCS Multistage (NCSM) EVP reports equity grants, vesting and tax share disposals

Rhea-AI Filing Summary

NCS Multistage Holdings Executive VP, GC and Secretary Lev Ori reported a mix of equity awards, conversions, and related share dispositions. On February 28, 2026, 5,289 equivalent stock units vested and were exercised into the same number of common shares. A portion of these shares, including 5,289 shares at $39.84 per share and an additional 374 shares, was surrendered to the company to cover tax obligations and issuer-related dispositions tied to vesting.

On March 2, 2026, Ori received a grant of 6,853 common shares and disposed of 1,730 shares to the issuer at $40.93 per share. On March 3, 2026, he was granted 1,940 equivalent stock units settling in cash, 3,921 performance stock units linked to relative total shareholder return that may settle for between zero and 1.25 shares each in the first quarter of 2029, and 1,940 common shares. Following these transactions, Ori directly held 14,387 common shares and 3,921 performance stock units, alongside additional unvested equivalent and restricted stock units.

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^*

LEV ORI

(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)
	Executive VP, GC and Secretary

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)		5,289	A	$0	12,987	D
Common Stock	02/28/2026		F(1)		5,289	D	$39.84	7,698	D
Common Stock	02/28/2026		D		374(2)	D	$39.84	7,324	D
Common Stock	03/02/2026		A		6,853	A	$0	14,177	D
Common Stock	03/02/2026		D		1,730(3)	D	$40.93	12,447	D
Common Stock	03/03/2026		A		1,940	A	$0	14,387(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)			5,289	(6)	(6)	Common Stock	5,289	$0	4,759	D
Equivalent Stock Units	(5)	03/03/2026		A		1,940		(7)	(7)	Common Stock	1,940	$0	6,699	D
Performance Stock Units	(8)	03/03/2026		A		3,921		(8)	12/31/2028	Common Stock	3,921	$0	3,921	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 1,689 restricted stock units which vest in two equal annual installments beginning on February 28, 2027 and 1,940 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 3,070 equivalent stock units which vest on February 28, 2027 and 1,689 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 3,070 equivalent stock units which vest on February 28, 2027, 1,689 equivalent stock units which vest in two equal annual installments beginning on February 28, 2027 and 1,940 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	03/03/2026
	** Signature of Reporting Person	Date
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FAQ

What did NCSM executive Lev Ori report in this Form 4 filing?

Lev Ori reported multiple equity-related transactions, including grants, vesting, conversions, and share surrenders. Activity covered common stock, equivalent stock units, and performance stock units on February 28, March 2, and March 3, 2026, reflecting ongoing compensation and tax-related adjustments.

How many NCSM common shares did Lev Ori acquire and dispose of?

Lev Ori acquired several blocks of NCS Multistage common stock, including 5,289 shares via unit conversion and grants of 6,853 and 1,940 shares. He disposed of 5,289 and 374 shares at $39.84 and 1,730 shares at $40.93, mainly for tax and issuer-related purposes.

What are the performance stock units granted to Lev Ori at NCS Multistage (NCSM)?

Lev Ori received 3,921 performance stock units that represent a contingent right to common stock. Each unit may settle for between zero and 1.25 shares in the first quarter of 2029, based on relative total shareholder return and an absolute total shareholder return modifier.

What are equivalent stock units in this NCSM Form 4 for Lev Ori?

The equivalent stock units are derivative awards that vest over time and settle in cash, representing the economic equivalent of one NCS Multistage common share. Cash settlement for each unit is capped by a maximum payout set by the company’s Compensation, Nominating and Governance Committee.

Were any of Lev Ori’s NCS Multistage share dispositions open-market sales?

The reported dispositions were coded as tax-withholding deliveries and issuer dispositions, not open-market sales. Shares were surrendered back to the issuer at specified prices to cover tax obligations and complete transactions associated with vesting and restricted or performance-based stock awards.

How many NCS Multistage shares did Lev Ori own after these transactions?

After the reported transactions, Lev Ori directly held 14,387 shares of NCS Multistage common stock. He also held 3,921 performance stock units and additional unvested restricted and equivalent stock units scheduled to vest in future years under the company’s equity programs.