Turtle Beach (TBCH) CEO awarded 3,974 performance stock units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Turtle Beach Corp CEO Cris Keirn reported an equity award of 3,974 performance stock units (PSUs). The PSUs, granted on March 12, 2026, represent a contingent right to receive an equal number of Turtle Beach common shares. They were acquired upon achievement of performance criteria tied to a PSU grant originally made on April 1, 2023 under the company’s 2023 incentive plan.
The vesting of these PSUs is based over a three‑year period on revenue growth above a defined market baseline and tiers of adjusted EBITDA as a percentage of net revenue, and they will vest on April 1, 2026 subject to continued employment. The filing also updates Keirn’s holdings, showing direct ownership of 58,135 common shares and several unexercised equity awards, including PSUs, RSUs and stock options with exercise prices of $12.10 and $5.95 per share.
Positive
- None.
Negative
- None.
Insider Trade Summary
9 transactions reported
Mixed
9 txns
Insider
Keirn Cris
Role
CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Stock Units | 3,974 | $0.00 | -- |
| holding | Performance Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance Stock Units — 3,974 shares (Direct);
Restricted Stock Units — 5,250 shares (Direct);
Stock Option (Right to Buy) — 19,167 shares (Direct);
Common Stock — 58,135 shares (Direct)
Footnotes (1)
- The securities are performance stock units ("PSUs") representing a contingent right to receive one share of Turtle Beach Corporation common stock. Acquired upon achievement of certain performance criteria pursuant to one-third of the performance stock units granted April 1, 2023 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of performance stock units is determined over a three-year period based on (i) the amount by which revenue growth exceeds a defined baseline market growth each year and (ii) the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year, with the ability to earn and vest into such units ranging from 0% to 200%. These performance stock units will vest with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2026, subject to continued employment through such date. These PSUs vest in installments of 6,920 shares on April 1, 2026 and 7,130 shares on April 1, 2027. The securities are restricted stock units ("RSUs") representing a contingent right to receive one share of common stock or cash with a value equal to the fair market value of the underlying common stock or a combination thereof. These RSUs vest in equal annual installments until April 1, 2026. These RSUs vest in equal annual installments until April 1, 2027. These RSUs vest in equal annual installments until April 1, 2028. One-quarter of these RSUs will vest on April 1, 2026, with the remainder of the RSUs vesting in equal annual installments until April 1, 2029. These options were exercisable as of the transaction date.
FAQ
What insider transaction did Turtle Beach (TBCH) CEO Cris Keirn report?
Cris Keirn reported receiving 3,974 performance stock units on March 12, 2026. These units were earned under a 2023 incentive grant after meeting revenue growth and adjusted EBITDA performance targets and will vest into common shares on April 1, 2026, subject to continued employment.
How do Cris Keirn’s Turtle Beach performance stock units (PSUs) vest?
The newly reported 3,974 PSUs vest on April 1, 2026, contingent on continued employment. They were earned based on three years of revenue growth exceeding a baseline market rate and achieving specified tiers of adjusted EBITDA margins, with potential payout ranging between 0% and 200% of the target units.
What other PSU awards does the Turtle Beach CEO hold and when do they vest?
Beyond the new 3,974-unit award, Keirn holds additional PSUs covering 14,051 underlying shares of common stock. According to the disclosure, these PSUs vest in two installments: 6,920 shares vest on April 1, 2026, and 7,130 shares vest on April 1, 2027, if conditions are satisfied.
What restricted stock unit (RSU) awards are outstanding for Turtle Beach CEO Cris Keirn?
Keirn holds several RSU awards tied to Turtle Beach common stock, with underlying share amounts of 5,250, 14,000, 19,656 and 34,176. These RSUs vest in equal annual installments through April 1 of 2026, 2027, 2028 and 2029, depending on the specific grant’s schedule.
What stock options does Turtle Beach CEO Cris Keirn currently have outstanding?
The filing shows two direct stock option positions for Keirn. One covers 19,167 underlying shares at an exercise price of $12.10 per share, expiring April 1, 2029. The other covers 12,605 shares at $5.95 per share, expiring April 1, 2030, and was exercisable on the transaction date.