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Paysign (PAYS) EVP stock vests; shares withheld for taxes

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Paysign, Inc. executive Joan M. Herman reported routine equity-compensation related transactions in company common stock. On May 13, 2026, performance-based restricted stock vested based on specific defined earnings targets, resulting in an award of 11,111 shares.

To cover associated tax withholding obligations from this vesting, 6,171 shares were withheld by the issuer at a reference price of $5.83 per share. These are not open-market sales or purchases, but mechanical entries tied to compensation. After these transactions, Herman directly holds 842,694 shares of Paysign common stock.

Positive

  • None.

Negative

  • None.
Insider Herman Joan M
Role EVP, Operations
Type Security Shares Price Value
Grant/Award Common Stock 11,111 $0.00 --
Tax Withholding Common Stock 6,171 $5.83 $36K
Holdings After Transaction: Common Stock — 842,694 shares (Direct, null)
Footnotes (1)
  1. Represents the vesting of performance-based restricted stock vested on May 13, 2026, based upon the achievement of specific defined earnings targets. Represents shares of common stock withheld by the issuer to satisfy certain tax withholding obligations associated with the vesting of restricted stock.
Tax withholding shares 6,171 shares Shares withheld to satisfy tax obligations from restricted stock vesting
Tax withholding reference price $5.83 per share Price used for shares withheld for tax obligations
Restricted stock award 11,111 shares Performance-based restricted stock vesting on May 13, 2026
Post-transaction holdings 842,694 shares Direct Paysign common stock held after reported transactions
Tax-withholding disposition count 1 transaction Form 4 transaction_summary taxWithholdingCount
Grant/award acquisition count 1 transaction Form 4 transaction_summary acquireCount
performance-based restricted stock financial
"Represents the vesting of performance-based restricted stock vested on May 13, 2026..."
Shares granted to employees or executives that are held back and only become actual, tradable stock if the company meets predefined performance targets; until those goals are met the shares cannot be sold. Think of it like a bonus held in escrow that’s released only when specific results are achieved — investors watch these awards because they tie management pay to company outcomes, can dilute existing shareholders when released, and signal how confident or incentivized insiders are to meet growth or profitability goals.
tax withholding obligations financial
"Represents shares of common stock withheld by the issuer to satisfy certain tax withholding obligations..."
grant, award, or other acquisition financial
"transaction_code_description": "Grant, award, or other acquisition""
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
performance-based restricted stock vested financial
"restricted stock vested on May 13, 2026, based upon the achievement of specific defined earnings targets."
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
Estimated average burden
hours per response:0.5
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*
Herman Joan M
(Last)(First)(Middle)
2615 ST. ROSE PARKWAY
(Street)
HENDERSON NEVADA 89052
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Paysign, Inc. [ PAYS ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
EVP, Operations
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/13/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock05/13/2026A11,111(1)A$0.00842,694D
Common Stock05/13/2026F(2)6,171D$5.83836,523D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Represents the vesting of performance-based restricted stock vested on May 13, 2026, based upon the achievement of specific defined earnings targets.
2. Represents shares of common stock withheld by the issuer to satisfy certain tax withholding obligations associated with the vesting of restricted stock.
/s/ Joan M Herman05/14/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Paysign (PAYS) executive Joan M. Herman report?

Joan M. Herman reported performance-based restricted stock vesting for 11,111 shares and withholding of 6,171 shares to satisfy tax obligations. Both transactions involve common stock and are tied to equity compensation rather than open-market buying or selling.

How many Paysign (PAYS) shares does Joan M. Herman hold after these transactions?

After these transactions, Joan M. Herman directly holds 842,694 shares of Paysign common stock. This figure reflects the net position following the vesting of performance-based restricted stock and the related tax withholding share disposition.

Were the Paysign (PAYS) Form 4 transactions open-market sales or purchases?

No, the reported transactions were not open-market trades. One entry reflects a grant or award of 11,111 shares from performance-based restricted stock vesting, while the other records 6,171 shares withheld by the issuer to cover tax withholding obligations.

What does the tax withholding transaction on Paysign (PAYS) stock represent?

The tax withholding transaction represents 6,171 Paysign shares withheld by the issuer at $5.83 per share. This satisfied certain tax withholding obligations arising from the vesting of restricted stock and is classified as a tax-withholding disposition, not a discretionary sale.

Why did Joan M. Herman receive 11,111 Paysign (PAYS) shares at zero price?

The 11,111 shares were granted at zero price because they represent the vesting of performance-based restricted stock. The vesting occurred on May 13, 2026, after Paysign achieved specific defined earnings targets that triggered this equity-compensation award.