Every Form 4 that CPI Card Group Inc. (PMTS) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow PMTS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PMTS filings page.
CPI Card Group Inc. (PMTS) reported that entities associated with Parallel49 Equity, ULC, identified as ten percent owners, completed a secondary sale of 2,687,921 shares of common stock on September 14, 2026. The Tricor funds sold the shares to underwriters at $20.425 per share under an Underwriting Agreement, and the underwriters sold them to the public at $21.50 per share. Following these sales, Tricor Pacific Capital Partners (Fund IV), LP and Tricor Pacific Capital Partners (Fund IV) U.S., LP each report holding 0 shares of CPI Card Group common stock.
CPI Card Group Inc. (PMTS) reported that major shareholder Tricor PMT25 Holdings Inc. purchased 525,000 shares of common stock on September 14, 2026 at $21.50 per share. Following this open-market or private transaction, Tricor PMT25 Holdings Inc. holds 2,701,056 shares, owned indirectly by its 100% parent Tricor Pacific Capital Inc. A related individual, Roderick R. Senft, disclaims beneficial ownership of these shares, and no Rule 10b5-1 trading plan is reported.
CPI Card Group Inc. (PMTS) director and Non-Executive Chairman Riley H. Sanford purchased 13,953 shares of common stock on September 14, 2026 at $21.50 per share in an open-market or private transaction, bringing Sanford’s directly held stake to 277,232 shares. An additional 5,400 shares are held indirectly by the spouse, for which Sanford disclaims beneficial ownership except to the extent of any pecuniary interest. No Rule 10b5-1 trading plan is reported.
CPI Card Group Inc. (PMTS) director Ravi Mallela purchased 1,000 shares of Common Stock on September 14, 2026 at $21.50 per share in an open-market or private transaction. Following this buy, he holds 12,471 shares directly, and no Rule 10b5-1 trading plan is reported.
CPI Card Group Inc. (PMTS) director Nicholas Peters reported an indirect purchase of 11,628 shares of Common Stock on September 14, 2026, at $21.50 per share, through a trust of his spouse, for which he disclaims beneficial ownership except for his pecuniary interest. Following this, he reports 11,628 shares held indirectly via the spouse’s trust and 47,970 shares held directly, and no Rule 10b5-1 trading plan is reported.
CPI Card Group Inc. (PMTS) director Marc Sheinbaum reported purchasing 4,651 shares of common stock on September 14, 2026 in an open-market or private transaction at $21.50 per share. Following this transaction, he directly holds 26,500 shares of CPI Card Group Inc. common stock. No Rule 10b5-1 trading plan is reported for this purchase.
CPI Card Group Inc. (symbol: PMTS) is the issuer of record for a Form 4 filing submitted to the SEC.
CPI Card Group Inc. (PMTS) reported multiple equity compensation transactions for Chief Digital Officer Robert Michael Dixon over August 29–31, 2026. Previously granted restricted stock units (RSUs) from 2023, 2024, and 2025 vested, with each RSU converting into one share of common stock. In connection with these vestings, the issuer withheld shares to satisfy mandatory tax withholding requirements, which were not open-market sales. On August 31, 2026, Dixon also received a new award of 1,362 RSUs that will vest in three substantially equal installments on August 31, 2027, 2028, and 2029, subject to continued service.
CPI Card Group Inc. (PMTS) reported equity compensation transactions by Chief Legal/Compliance Officer Darren Dragovich. On August 29, 2026, 785 Restricted Stock Units vested and were converted into 785 common shares, and 346 of those shares were withheld at $28.83 per share to satisfy mandatory tax withholding, not as an open-market sale. On August 31, 2026, Dragovich received a new grant of 1,361 Restricted Stock Units, each representing one common share, scheduled to vest in three substantially equal installments on August 31, 2027, 2028, and 2029, subject to continued service or the applicable award agreement.
CPI Card Group Inc. (PMTS) reported insider equity compensation activity by Chief Financial Officer Terra Lee Grantham. On August 31, 2026, Grantham received a grant of 1,816 Restricted Stock Units (RSUs), each representing one share of common stock, vesting in three substantially equal installments in 2027, 2028, and 2029.
On August 29–30, 2026, previously granted RSUs vested, resulting in the conversion of 537 and 257 RSUs, respectively, into equal numbers of common shares. In connection with these vestings, 155 and 74 shares of common stock were withheld at $28.83 per share to satisfy mandatory tax withholding requirements; these withholdings were not open-market sales.
CPI Card Group Inc. (PMTS) reported multiple equity compensation events for President and CEO John Lowe over August 29–31, 2026. Lowe exercised or converted RSUs into 16,789 common shares in total, with 7,386 shares withheld by the company to satisfy mandatory tax withholding obligations rather than sold in the market. He also received a new award of 16,345 RSUs that will vest in three substantially equal installments on August 31, 2027, 2028, and 2029, subject to continued service.
CPI Card Group Inc. (PMTS) reported equity compensation activity for Chief Commercial Officer Margaret O’Leary. Over August 29–31, 2026, a total of 4,361 RSUs vested and were converted into the same number of common shares, with 1,255 shares delivered or withheld to cover exercise price or tax liabilities at prices around $28.83–$28.97 per share. O’Leary also received a new grant of 1,988 RSUs, scheduled to vest in three substantially equal installments on August 31, 2027, 2028, and 2029, subject to continued service. An additional 500 common shares are reported as held indirectly by her spouse.
CPI Card Group Inc. (PMTS) reported several equity compensation transactions by Chief Operating Officer Anntoinette Thompson. On August 31, 2026, she received a grant of 1,988 Restricted Stock Units, each representing one common share, vesting in three substantially equal installments in 2027, 2028, and 2029, subject to continued service. On August 29–30, 2026, previously granted RSUs vested and were converted into 1,150 and 619 common shares, respectively. In connection with these vestings, the issuer withheld 337 and 182 shares at $28.83 per share to satisfy mandatory tax withholding obligations, which were not open market sales.
CPI Card Group Inc. (PMTS) reported equity compensation and related share movements for Chief Technology Officer Ernesto Boada. On August 31, 2026, Boada received a grant of 1,907 Restricted Stock Units, each representing one share of common stock, vesting in three substantially equal installments on August 31, 2027, 2028, and 2029, subject to continued service or the award agreement terms.
On August 29, 2026, 1,046 RSUs from an award originally granted on August 29, 2025 vested and were converted into 1,046 common shares. In connection with this vesting, 301 common shares were withheld by CPI Card Group Inc. at a price of $28.83 per share to satisfy mandatory tax withholding requirements, which was not an open market sale.
CPI Card Group Inc. (PMTS) reported equity compensation transactions by Chief Human Resources Officer Sonya Vollmer. Over August 29–31, 2026, she exercised RSUs into 2,352 common shares and had 754 common shares withheld to cover mandatory tax obligations. She also received a new 1,089‑unit RSU award that vests in three equal installments in 2027, 2028, and 2029, subject to continued service.
CPI Card Group Inc. (PMTS) director Thomas Furey reported equity compensation and a related RSU conversion. On August 31, 2026, he received a grant of 1,135 Restricted Stock Units, each representing one share of common stock; these RSUs vest on the first anniversary of the award date and are structured as deferred RSUs, with shares issued following his separation from service. On August 29, 2026, 1,948 deferred RSUs awarded on August 29, 2025 vested and were converted into 1,948 shares of common stock, increasing his directly held common shares to 17,970.
CPI Card Group Inc. (PMTS) director Nicholas Peters reported equity award and vesting activity. On August 31, 2026, he received a grant of 1,135 Restricted Stock Units (RSUs), each representing one share of common stock, which will vest on the first anniversary of the award date, subject to continued service. On August 29, 2026, 1,948 deferred RSUs vested and were converted into 1,948 shares of common stock, increasing his directly held common stock to 47,970 shares. The newly granted RSUs are deferred; the underlying shares will be issued after his separation from service under the award terms.
CPI Card Group Inc. (PMTS) reported insider equity compensation and related transactions by director and Non-Executive Chairman Riley H. Sanford. On August 29, 2026, Sanford exercised 1,948 deferred RSUs awarded on August 29, 2025, receiving 1,948 common shares, bringing direct common stock holdings to 263,279 shares. On August 31, 2026, Sanford received a new grant of 1,135 deferred RSUs, each representing one common share to be issued after separation from service, vesting on the first anniversary of the award date subject to continued service or the award agreement. Sanford also reports 5,400 common shares held indirectly by a spouse, with beneficial ownership disclaimed except to the extent of any pecuniary interest.
CPI Card Group Inc. (PMTS) director Marc Sheinbaum reported equity compensation activity involving restricted stock units (RSUs) and common stock. On August 29, 2026, 1,948 RSUs awarded on August 29, 2025 vested and were converted into 1,948 shares of Common Stock, leaving him with 21,849 Common shares held directly. On August 31, 2026, he received a new grant of 1,135 deferred RSUs, each representing one share of Common Stock, which vest on the first anniversary of the award date, subject to continued service, and will be settled in shares following his separation from service.
CPI Card Group Inc. (PMTS) director Valerie Soranno Keating reported equity compensation activity involving restricted stock units (RSUs) and common stock. On August 31, 2026 she received a grant of 1,135 deferred RSUs, each representing one common share, which vest on the first anniversary of the award date subject to continued service, with shares issued after her separation from service. On August 29, 2026, 1,948 deferred RSUs awarded August 29, 2025 vested and were converted into 1,948 shares of common stock, increasing her directly held common shares to 36,767.
CPI Card Group Inc. (PMTS) director Lisa Oleson reported equity compensation and a related share issuance. On August 31, 2026, she received a grant of 1,135 Restricted Stock Units, each representing one share of common stock, vesting on the first anniversary of the award date, subject to continued service. On August 29, 2026, 1,948 RSUs awarded on August 29, 2025 vested and were converted into 1,948 shares of common stock, bringing her directly held common stock to 8,793 shares after the transaction.
CPI Card Group Inc. (PMTS) director Ravi Mallela reported equity compensation activity involving restricted stock units and common shares. On August 29, 2026, 1,948 RSUs that had been awarded on August 29, 2025 vested and were exercised, resulting in the acquisition of 1,948 shares of Common Stock and the corresponding disposition of the derivative RSUs.
Following this conversion, Mallela held 11,471 shares of Common Stock directly. On August 31, 2026, he received a new grant of 1,135 RSUs, each representing the right to receive one common share, which vest on the first anniversary of the August 31, 2026 award date, subject to continued service or the terms of the award agreement. The Rule 10b5-1 plan checkbox was not marked for these transactions.
Grantham Terra Lee reported acquisition or exercise transactions in this Form 4 filing.
CPI Card Group Inc. reported that Chief Financial Officer Terra Lee Grantham received new equity-based compensation awards. She was granted 5,165 phantom stock units, each economically equivalent to one common share and settling in cash based on average closing price and performance metrics at the end of the performance period.
She also received 16,295 restricted stock units, each representing the right to receive one common share upon vesting. These RSUs vest in three substantially equal installments on June 30, 2027, 2028, and 2029, contingent on her continued service or as otherwise provided in the award agreements.
CPI Card Group Inc.'s Chief Human Resources Officer Sonya Vollmer reported equity compensation activity in company stock. On June 9, 2026 she exercised 1,184 Restricted Stock Units, receiving the same number of common shares. The company withheld 379 shares at $18.48 solely to cover mandatory tax obligations, which was not an open‑market sale. Following these transactions, she holds 9,420 common shares directly.
CPI Card Group Inc. President and CEO John Lowe reported routine equity-compensation transactions involving restricted stock units. On June 9, 2026, 3,401 restricted stock units vested and were exercised into 3,401 shares of common stock. In connection with this vesting, 1,496 shares of common stock were disposed of at $18.48 per share to satisfy mandatory tax withholding obligations, which the company notes was not an open-market sale. Following these transactions, Lowe directly holds 69,667 shares of common stock.
CPI Card Group Inc.'s Chief Digital Officer Robert Michael Dixon reported routine equity compensation activity involving restricted stock units. On June 9, 2026, 636 restricted stock units were exercised into 636 shares of common stock, reflecting vesting of a prior RSU award.
To cover mandatory tax withholding upon this vesting, 192 shares of common stock were withheld by the company at a value of $18.48 per share, which the filing notes was not an open-market sale. After these transactions, Dixon directly owned 8,747 shares of CPI Card Group common stock.
CPI Card Group Inc. Chief Commercial Officer Margaret O'Leary reported routine equity compensation activity involving restricted stock units. She exercised 2,229 RSUs into an equal number of common shares. To cover mandatory taxes on the vesting, the issuer withheld 641 shares at $18.48 per share, which is not an open-market sale. After these transactions, she holds 30,264 common shares directly and 500 common shares indirectly through her spouse.
CPI Card Group Inc. President and CEO John Lowe reported routine equity compensation activity involving restricted stock units (RSUs) and related tax withholding. He received a grant of 27,472 RSUs, each representing one share of common stock upon vesting. On two dates, RSUs previously granted vested and were converted into a total of 10,990 common shares, while 4,834 shares of common stock were withheld by the company at $16.97 per share to cover mandatory tax obligations, which the filing notes were not open‑market sales. After these transactions, Lowe directly holds 67,762 common shares and continues to hold the newly granted RSUs, which are scheduled to vest in three equal installments in 2027, 2028, and 2029 if his service continues.
CPI Card Group Inc. Controller & Chief Accounting Officer Donna Abbey Carmignani reported routine equity compensation activity involving restricted stock units (RSUs) and related tax withholding. On May 29, she received a grant of 1,191 RSUs that will vest in three annual installments starting in 2027.
On May 30 and May 31, previously granted RSUs vested and were converted into 299 and 273 common shares, respectively, at a stated price of $0.00 per share. To cover mandatory tax withholding on these vestings, the issuer withheld 86 and 79 common shares at $16.97 per share, which the filing states are not open-market sales.
After these transactions, Carmignani directly holds 5,885 common shares and 1,191 RSUs. The filing shows no open-market purchases or sales, only RSU grants, vesting, and tax-related share withholding, which are typical elements of executive compensation.
CPI Card Group Inc. Chief Technology Officer Ernesto Boada reported routine equity compensation activity. A prior restricted stock unit (RSU) award vested, delivering 748 common shares, while 216 shares were withheld by the company to cover mandatory tax obligations, which the filing notes is not an open-market sale. Boada also received a new grant of 3,205 RSUs that will vest in three roughly equal parts on May 29, 2027, 2028, and 2029, subject to continued service.
CPI Card Group Inc. reported routine equity compensation activity for Chief Legal/Compliance Officer Darren Dragovich. He received a grant of 2,287 restricted stock units (RSUs) on May 29, 2026, each representing one share of common stock upon vesting. These RSUs vest in three substantially equal installments on May 29, 2027, May 29, 2028, and May 29, 2029, subject to continued service.
On May 30, 2026, 562 previously granted RSUs vested and were converted into 562 shares of common stock. Of these, 162 shares were withheld by the issuer to satisfy mandatory tax withholding, which the filing states is not an open market sale. After these transactions, Dragovich directly held 3,519 common shares and 2,287 RSUs.
CPI Card Group Inc. interim Chief Financial Officer Terra Lee Grantham reported routine equity compensation activity involving restricted stock units (RSUs) and related tax withholding. Grantham received a grant of 1,812 RSUs, each representing one share of common stock upon vesting. Previously granted RSUs vested on May 30 and May 31, 2026, converting 384 and 297 RSUs, respectively, into the same number of common shares at a stated price of $0.00. To satisfy mandatory tax withholding on these vestings, the issuer withheld 111 and 86 common shares at $16.97 per share, which the filing clarifies were not open‑market sales. Following these transactions, Grantham directly holds 15,648 common shares.
CPI Card Group Inc. Chief Digital Officer Robert Michael Dixon reported routine equity compensation activity involving restricted stock units and related tax withholding. On May 29, 2026, he received a grant of 2,289 restricted stock units, each representing one common share upon vesting. On May 30 and 31, 2026, portions of earlier RSU awards vested, converting to a total of 552 common shares, while 167 shares were withheld by the company to cover mandatory tax obligations, not as open-market sales. Following these transactions, Dixon directly held 8,303 common shares of CPI Card Group.
CPI Card Group Inc. Chief Commercial Officer Margaret O'Leary reported compensation-related equity activity over several days involving restricted stock units (RSUs) and common shares. She received a grant of 3,342 RSUs on May 29, 2026, each representing one share of common stock upon vesting. On May 30 and 31, 2026, previously awarded RSUs vested and were converted into a total of 1,536 common shares, while 443 shares were withheld by the company at $16.97 per share to satisfy mandatory tax obligations, which the filing notes is not an open-market sale. Following these transactions, she directly held 28,676 common shares and also reported 500 common shares held indirectly by her spouse.
CPI Card Group Inc.’s Chief Human Resources Officer Sonya Vollmer reported routine equity compensation activity involving restricted stock units (RSUs) and related tax withholding. On May 29, 2026, she received a grant of 1,831 RSUs, each representing one common share upon vesting, scheduled in three equal installments in 2027, 2028, and 2029, subject to continued service.
Previously granted RSUs vested on May 30 and 31, 2026, resulting in the acquisition of 841 common shares through derivative exercises. To satisfy mandatory tax withholding on these vestings, the issuer withheld 206 common shares at $16.97 per share, which the filing notes was not an open-market sale. After these transactions, Vollmer directly held 8,615 shares of common stock.
CPI Card Group Inc. Chief Operating Officer Anntoinette Thompson reported compensation-related equity activity involving restricted stock units (RSUs) and common shares. She received a grant of 3,342 RSUs, each representing one common share upon vesting. On May 30 and 31, she exercised RSUs for 822 and 528 common shares, respectively, at a $0.00 exercise price. To cover mandatory tax withholding on these vestings, 241 and 155 common shares were withheld by the company at $16.97 per share, which the footnotes state were not open-market sales. Following these transactions, she directly holds 9,620 common shares, and the new 3,342-unit RSU award is scheduled to vest in three substantially equal installments on May 29, 2027, 2028, and 2029, subject to continued service.
CPI Card Group Inc. director Thomas Furey reported equity compensation activity involving restricted stock units. On May 29, 2026, he received a grant of 1,907 restricted stock units (RSUs), each representing one share of common stock, which vest on the first anniversary of the award date, subject to continued service.
On May 30, 2026, 1,393 previously deferred RSUs awarded on May 30, 2025 vested and were converted into 1,393 shares of common stock. Following these transactions, Furey directly owns 16,022 shares of common stock and 1,907 RSUs.
CPI Card Group Inc. director Valerie Soranno Keating reported routine equity compensation activity. She received a grant of 1,907 restricted stock units, each representing one future common share, which will vest on the first anniversary of the May 29, 2026 award date if she continues in service. She also exercised 1,393 previously deferred RSUs awarded on May 30, 2025, which had vested after one year, converting them into 1,393 shares of common stock. Following these transactions, she directly holds 34,819 common shares, and the new 1,907-unit RSU award remains outstanding until vesting.
Mallela Ravi reported acquisition or exercise transactions in this Form 4 filing.
CPI Card Group Inc. director Ravi Mallela reported routine equity compensation activity. On May 29, 2026, he received a grant of 1,907 Restricted Stock Units (RSUs), each representing one share of common stock, which vest on the first anniversary of the award date, subject to continued service.
On May 30, 2026, 1,393 RSUs from a prior May 30, 2025 award fully vested and were settled into 1,393 shares of common stock. Following these transactions, he directly holds 9,523 shares of CPI Card Group common stock, and no RSUs remain from the 2025 award.
CPI Card Group Inc. director Lisa Oleson reported routine equity compensation activity involving restricted stock units and common shares. She received a grant of 1,907 Restricted Stock UnitsMay 29, 2026, which will vest on the first anniversary of the award date if she continues in service or as provided in the award agreement. On May 30, 2026, 1,393 RSUs from a prior May 30, 2025 award vested and were converted into 1,393 shares of Common Stock at a stated price of $0.00 per share. Following these transactions, Oleson directly holds 6,845 shares of Common Stock. Each RSU represents the right to receive one common share upon vesting.
CPI Card Group Inc. director Peters Nicholas reported routine equity compensation activity involving restricted stock units (RSUs). He exercised 1,393 RSUs into the same number of common shares at an exercise price of $0.00 per share, bringing his direct common stock holdings to 46,022 shares.
He also received a new grant of 1,907 RSUs, each representing one future common share upon vesting. According to the terms, these 1,907 RSUs vest on the first anniversary of the May 29, 2026 award date, as long as he continues serving the company or as otherwise provided in the award agreement.
CPI Card Group Inc. director and Non-Executive Chairman Riley H. Sanford reported routine equity compensation activity. On May 30, 2026, Sanford exercised 1,393 restricted stock units into an equal number of common shares, bringing his directly held common stock to 261,331 shares.
On May 29, 2026, he received a grant of 1,907 restricted stock units, each representing one future common share, which vest on the first anniversary of the award date subject to continued service or the award terms. The filing also notes 5,400 common shares held indirectly by his spouse, with Sanford disclaiming beneficial ownership beyond his pecuniary interest.
CPI Card Group Inc. director Marc Sheinbaum reported compensation-related equity activity. On May 30, 2026, he exercised 1,393 Restricted Stock Units (RSUs), receiving the same number of Common Stock shares, bringing his direct Common Stock holdings to 19,901 shares. On May 29, 2026, he also received a grant of 1,907 RSUs that vest on the first anniversary of the award date, subject to continued service, with each RSU delivering one common share upon vesting.
CPI Card Group Inc. director and non-executive chairman Riley H. Sanford reported open-market purchases of the company’s common stock. On May 19, 2026, an account held by his spouse bought 5,400 shares at $16.00 per share, and a separate direct account bought 6,500 shares at the same price.
After these transactions, Sanford directly holds 259,938 shares, and his spouse holds 5,400 shares reported as indirect ownership. He disclaims beneficial ownership of his spouse’s shares except for any pecuniary interest.
CPI Card Group Inc. Controller and Chief Accounting Officer Donna Abbey Carmignani reported an open-market sale of Common Stock. On May 11, 2026, she sold 4,870 shares at an average price of $15.32 per share. Following this transaction, she directly holds 5,478 shares of CPI Card Group common stock.
CPI Card Group Inc. director and non-executive chairman Riley H. Sanford reported equity compensation activity involving restricted stock units and common shares. On March 31, 2026, Sanford received a grant of 2,164 restricted stock units (RSUs), each representing one share of common stock, which vest on the first anniversary of the award date, subject to continued service or the award terms.
On the same date, 1,072 deferred RSUs that were originally awarded on March 31, 2025 vested after 12 months and were exercised into 1,072 shares of common stock. Following these transactions, Sanford directly holds 253,438 shares of CPI Card Group common stock. These entries reflect routine equity compensation grants and vesting, not open-market purchases or sales.
CPI Card Group Inc. director Marc Sheinbaum reported equity compensation activity involving restricted stock units (RSUs) and common shares. On March 31, 2026, he received a grant of 2,164 RSUs, each representing one share of common stock, which vest on the first anniversary of the award date, subject to continued service or the award agreement terms.
He also exercised 1,072 previously awarded deferred RSUs from the March 31, 2025 grant, which had vested after 12 months. These RSUs converted into 1,072 shares of common stock at no exercise price, bringing his directly held common stock position to 18,508 shares after the transactions.
CPI Card Group Inc. Chief Technology Officer Ernesto Boada reported compensation-related equity activity. He received a grant of 3,635 restricted stock units, each representing one common share, scheduled to vest in three substantially equal installments on March 31, 2027, 2028, and 2029, subject to continued service.
Boada was also granted 13,350 shares of phantom stock, economically equivalent to common stock and scheduled to vest shortly after December 31, 2028, settling in cash based on average closing price and performance metrics. In addition, 577 RSUs granted earlier vested and were converted into 577 common shares, with 166 of those shares withheld at $14.51 per share to cover mandatory tax obligations, leaving him with 4,161 common shares held directly.
CPI Card Group Inc. Chief Digital Officer Robert Michael Dixon reported routine equity compensation and a small related tax withholding. He received a grant of 2,596 restricted stock units, each representing one common share upon vesting. He also received 9,535 shares of phantom stock, economically equivalent to common stock and scheduled to vest and settle in cash after December 31, 2028, based on average share price and performance metrics.
Dixon exercised 288 previously awarded RSUs into 288 shares of common stock. Of these, 87 shares valued at $14.51 per share were withheld by the company to satisfy mandatory tax obligations, which is not an open-market sale. Following these transactions, he directly holds 7,918 shares of common stock.
CPI Card Group Inc.’s Chief Legal/Compliance Officer Darren Dragovich received new equity-based compensation and had prior awards vest. He was granted 2,594 restricted stock units, each representing one future common share, vesting in three equal installments on March 31, 2027, 2028, and 2029, subject to continued service.
He also received 9,527 phantom stock units, each economically equivalent to one common share, scheduled to vest shortly after December 31, 2028 and settle in cash based on average closing prices and performance metrics. In addition, 433 RSUs from a 2025 award vested and converted into 433 common shares, and 125 shares were withheld at $14.51 per share to satisfy mandatory tax withholding, leaving him with 3,119 common shares held directly. The tax withholding is not an open‑market sale.