Priority Technology (NASDAQ: PRTH) director exercises RSUs, withholds shares for tax
Rhea-AI Filing Summary
Priority Technology Holdings director Michael Passilla exercised equity awards and adjusted his holdings in company stock. On April 1, 2026, he converted 4,296 restricted stock units into 4,296 shares of common stock at no exercise price. Of these, 1,168 shares were withheld to satisfy tax obligations at a price of $4.72 per share, leaving him with 134,328 shares held directly after the transactions.
He also has 76,052 shares held indirectly through Posillipo Ventures, Inc., where he is a managing member. Separately, on February 5, 2026, he was granted 17,182 restricted stock units that vest in four equal 25% installments between April 1, 2026 and January 1, 2027, contingent on continued service as a director.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 3,128 shares
Net Buy
4 txns
Insider
Passilla Michael
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 4,296 | $0.00 | $0.00 |
| Exercise | Common Stock | 4,296 | $0.00 | $0.00 |
| Disposition | Common Stock | 1,168 | $4.72 | $6K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 12,886 shares (Direct);
Common Stock — 134,328 shares (Direct);
Common Stock — 76,052 shares (Indirect, see footnote)
Footnotes (4)
- F1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.
- F2. Shares withheld to satisfy tax obligations.
- F3. Shares acquired by Posillipo Ventures, Inc., a limited liability company of which the reporting person is a managing member.
- F4. On February 5, 2026, the Reporting Person was granted 17,182 restricted stock units which vest 25% on April 1, 2026, 25% on July 1, 2026, 25% on October 1, 2026, and 25% on January 1, 2027 subject to the Reporting Person's continued service as a director of the Issuer.
Key Figures
RSUs exercised: 4,296 units
Shares withheld for taxes: 1,168 shares at $4.72
Direct holdings after transactions: 134,328 shares
+3 more
6 metrics
RSUs exercised
4,296 units
Restricted stock units converted to common stock on April 1, 2026
Shares withheld for taxes
1,168 shares at $4.72
Disposition to issuer to satisfy tax obligations
Direct holdings after transactions
134,328 shares
Common stock held directly by Michael Passilla after April 1, 2026
Indirect holdings
76,052 shares
Common stock held indirectly via Posillipo Ventures, Inc.
New RSU grant
17,182 units
Restricted stock units granted on February 5, 2026
RSU vesting schedule
4 installments of 25%
Vests on April 1, July 1, October 1, 2026 and January 1, 2027
Key Terms
Restricted Stock Unit, Disposition to issuer, indirect ownership, withheld to satisfy tax obligations, +1 more
5 terms
Restricted Stock Unit financial
"Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
Disposition to issuer financial
"transaction_code_description: Disposition to issuer"
indirect ownership financial
"total_shares_following_transaction: 76052.0000, direct_or_indirect: I, nature_of_ownership: see footnote"
withheld to satisfy tax obligations financial
"Shares withheld to satisfy tax obligations."
managing member financial
"a limited liability company of which the reporting person is a managing member."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did PRTH director Michael Passilla report on April 1, 2026?
Michael Passilla exercised 4,296 restricted stock units into 4,296 Priority Technology Holdings common shares. Of these, 1,168 shares were withheld to cover tax obligations, resulting in 134,328 shares held directly after the transactions.
What new equity awards did PRTH grant to Michael Passilla in 2026?
On February 5, 2026, Michael Passilla received a grant of 17,182 restricted stock units from Priority Technology Holdings. These units vest 25% on four dates from April 1, 2026 through January 1, 2027, subject to his continued service as a director.
How are Passilla’s indirect PRTH holdings structured according to the Form 4 footnotes?
The Form 4 notes that some shares were acquired by Posillipo Ventures, Inc. This entity is a limited liability company where Michael Passilla is a managing member, and it holds 76,052 Priority Technology Holdings common shares as an indirect ownership position.