[Form 4] CPI Card Group Inc. Insider Trading Activity

Rhea-AI Filing Summary

Nicholas Peters, a director of CPI Card Group Inc. (PMTS), filed a Form 4 reporting equity award and share activity. The filing reports restricted stock unit awards and vesting: 1,948 RSUs awarded on August 29, 2025 that vest on the first anniversary of that award date subject to continued service, and 924 deferred RSUs awarded August 30, 2024 that vested on their 12-month anniversary. The filing also includes a Table I entry for Common Stock dated August 30, 2025 showing code "M" and the numeric entries "924 A (1) 42,648 D" as presented in the form. The Form 4 was signed by attorney-in-fact on September 3, 2025.

Positive

• RSU vesting reported totaling 2,872 shares (1,948 + 924), indicating equity alignment between the director and the company
• Clear vesting schedule provided for the 1,948 RSUs (one-year vesting from August 29, 2025) and description of deferred RSUs to be issued after separation

Negative

• None.

Insights

Securities Analyst

TL;DR: Director reported vesting and issuance-related RSU activity totaling 2,872 shares; filing contains an ambiguous Common Stock line.

The filing documents executive equity compensation activity rather than open-market purchases or sales. It details an award of 1,948 RSUs (vesting one year after August 29, 2025) and the vesting of 924 deferred RSUs awarded August 30, 2024. These RSUs convert to common shares upon vesting. The Form also presents a Common Stock entry dated August 30, 2025 with code "M" and numerical entries that are printed as "924 A (1) 42,648 D." The filing is factual and procedural; it does not provide financial statement metrics or changes to control. Investors can treat this as insider compensation-related activity.

Corporate Governance Specialist

TL;DR: This is routine director equity compensation and vesting disclosure; no clear material corporate action is reported.

The Form 4 discloses restricted stock unit awards and subsequent vesting tied to service conditions. It explicitly describes deferred RSUs that will be issued following a separation from service and the one-year vesting schedule for the August 29, 2025 award. The form is signed by an attorney-in-fact and follows Section 16 reporting requirements. One line in Table I related to Common Stock contains multiple numeric values presented together; the filing does not clarify the nature of that line beyond the printed entries. Overall, the filing reflects compensation-related share issuance rather than transactional changes to corporate governance or control.

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^*

Peters Nicholas

(Last) (First) (Middle)

C/O CPI CARD GROUP INC.

10368 WEST CENTENNIAL ROAD

(Street)

LITTLETON CO 80127

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CPI Card Group Inc. [ PMTS ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

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	08/30/2025		M		924	A	(1)	42,648	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
Restricted Stock Units(2)	(1)	08/29/2025		A		1,948		(3)	(3)	Common Stock	1,948	$0	1,948	D
Restricted Stock Units	(1)	08/30/2025		M			924	(4)	(4)	Common Stock	924	$0	0	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents the right to receive one common share of the Issuer upon vesting of such RSU.

2. This line represents deferred RSUs. The shares of Common Stock underlying these RSUs will be issued to the Reporting Person following the Reporting Person's separation from service with the Issuer.

3. The 1,948 RSUs reported on this line vest on the first anniversary of the August 29, 2025 award date, subject to the reporting person's continued service through such date or as otherwise provided for in the applicable award agreement.

4. This line reports 100% of the deferred RSUs that were awarded on the August 30, 2024 award date, which vested on the 12 month anniversary of the award date.

	/s/ Darren Dragovich, attorney-in-fact	09/03/2025
	** 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 Nicholas Peters report on the Form 4 for CPI Card Group (PMTS)?

He reported restricted stock unit awards and vesting activity: 1,948 RSUs awarded August 29, 2025 (vesting one year later) and 924 deferred RSUs awarded August 30, 2024 that vested on their 12-month anniversary.

How many RSUs vested or were reported as acquired in this filing?

2,872 RSUs in total are noted in the filing: 1,948 (award dated 08/29/2025) and 924 (deferred RSUs vested from 08/30/2024).

Does the Form 4 show any open-market stock purchases or sales by the reporting person?

No explicit open-market buy or sell is described. The filing focuses on RSU awards and vesting. A Common Stock line dated 08/30/2025 shows printed entries "924 A (1) 42,648 D" but the form does not provide explanatory text beyond the printed table entries.

When do the 1,948 RSUs vest according to the filing?

They vest on the first anniversary of the August 29, 2025 award date, subject to the reporting person's continued service through that date or as provided in the award agreement.

Who signed the Form 4 and when was it signed?

The form was signed by Darren Dragovich, attorney-in-fact, on September 3, 2025.