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

Rhea-AI Filing Summary

The Form 4 shows that director Ravi Mallela acquired 623 shares of CPI Card Group Inc. (PMTS) on 08/14/2025 at a reported price of $16.11 per share. After this purchase, the reporting person beneficially owned 5,225 shares. The filing was signed by an attorney-in-fact, Darren Dragovich.

Positive

• Director purchase reported: Ravi Mallela acquired 623 shares, increasing insider ownership to 5,225 shares.
• Transaction executed on open market: Purchase at $16.11 per share indicates direct insider investment in equity.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: A company director purchased 623 shares at $16.11, modestly increasing insider ownership to 5,225 shares.

This Form 4 discloses a straightforward open-market acquisition by a director, which increases insider alignment with shareholders. The size of the transaction (623 shares) is small relative to typical institutional holdings and does not by itself indicate a material change in control or ownership. The filing is properly executed via attorney-in-fact, and no derivative transactions or dispositions are reported.

Securities Analyst

TL;DR: Insider purchased common stock; transaction is routine and likely not material to valuation.

From a market-impact perspective, a 623-share purchase at $16.11 is unlikely to move the stock or materially alter the company capital structure. It is a positive governance signal that a director added to their stake, but the absolute size suggests limited informational content about future performance. No sales, option exercises, or other derivative activity are reported.

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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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^*

Mallela Ravi

(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)
08/14/2025

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	08/14/2025		P		623	A	$16.11	5,225	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

Explanation of Responses:

	Darren Dragovich, attorney-in-fact	08/14/2025
	** 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 the Form 4 for CPI Card Group Inc. (PMTS) disclose on 08/14/2025?

The filing discloses that director Ravi Mallela acquired 623 shares at $16.11 per share, resulting in beneficial ownership of 5,225 shares.

Was the Form 4 transaction a purchase or a sale for PMTS?

It was a purchase (transaction code P) of common stock.

Who signed the Form 4 for the PMTS reporting person?

The form was signed by attorney-in-fact Darren Dragovich on 08/14/2025.

Did the Form 4 report any derivative transactions or dispositions for PMTS?

No. The filing reports only a non-derivative acquisition of common stock and no derivative activity or dispositions.

How many shares did the reporting person own after the transaction?

The reporting person beneficially owned 5,225 shares following the reported transaction.