Verra Mobility Corporation (VRRM) appointed Jon Newhard as president and chief executive officer and a director, effective November 1, 2026, contingent upon completion of a customary background check. The board approved increasing its size from six to seven directors effective the same date.
Under his employment agreement, Newhard will receive a $725,000 annual base salary and, beginning in fiscal 2027, will be eligible for a discretionary cash bonus with a 100% of base salary target and annual equity awards with an estimated $4,000,000 target grant-date fair value, subject to Compensation Committee determination. Separately, the company will grant an inducement restricted stock unit award with a $4,750,000 grant-date fair value, subject to Board approval and applicable requirements. It vests in three equal annual installments beginning on the first anniversary of his start date, contingent on continued employment. Jon Keyser will leave the interim CEO role immediately before the start date and serve as an advisor until December 31, 2026, unless earlier terminated.
VERRA MOBILITY Corp (VRRM) reported that Interim President and CEO Jonathan Keyser exercised 4,256 Restricted Stock Units into 4,256 shares of Class A Common Stock on September 19, 2026. Of these, 1,801 shares were withheld to satisfy tax liability, and 4,256 RSUs remained outstanding after the transaction.
Ameriprise Financial, Inc., a Delaware corporation, reports beneficial ownership of Verra Mobility Corporation Class A common stock. It has shared voting power over 9,314,255 shares and shared dispositive power over 9,314,455 shares, representing 6.1% of the class, with no sole voting or dispositive power. Ameriprise states that it disclaims beneficial ownership of the reported shares.
T. Rowe Price Associates, Inc. filed Amendment No. 4 reporting its holdings in Verra Mobility Corp. common stock. The firm reported beneficial ownership of 241,697 shares, representing 0.2% of the outstanding common stock. All reported shares are subject to sole voting and sole dispositive power, with no shared voting or dispositive power. The filer states that its ownership represents 5 percent or less of the class and expressly denies beneficial ownership beyond what is reported.
Verra Mobility Corp Chief Customer Officer Stacey Moser reported a derivative exercise and related share withholding. On August 7, 2026, 13,502 Restricted Stock Units, each representing a contingent right to one share of Class A Common Stock, were exercised into 13,502 shares. On the same date, 4,844 shares of Class A Common Stock at $4.90 per share were delivered or withheld for payment of exercise price or tax liability.
Verra Mobility Corp reported equity compensation activity by Chief Accounting Officer Hiten M. Patel. On August 9, 2026, restricted stock units representing 4,190 shares of Class A Common Stock were exercised or converted into common shares, as part of prior RSU grants that vest in scheduled annual installments beginning August 9, 2025. In connection with these events, 1,772 shares of Class A Common Stock were delivered or withheld at $4.90 per share for payment of exercise price or tax liability, with the remainder retained as directly owned shares.
Verra Mobility Corporation reported second quarter 2026 revenue of $263.6 million, up 12% from $236.0 million a year earlier, driven by 20% growth in Government Solutions to $128.5 million and 6% growth in Commercial Services to $115.1 million. Parking Solutions revenue was $20.0 million, roughly flat year over year.
The company recorded a net loss of $48.2 million, or $0.32 per share, versus net income of $38.6 million a year ago, mainly due to a $64.0 million goodwill impairment and $40.4 million intangible impairment in the Parking Solutions segment and higher operating expenses. Non-GAAP results were stronger, with Adjusted EBITDA of $110.7 million (42% margin) versus $105.3 million and Adjusted EPS of $0.38 versus $0.34.
Net cash provided by operating activities was $56.4 million, down from $75.1 million, and Free Cash Flow was $32.6 million. As of June 30, 2026, cash was $49.6 million, Net Debt was $993.2 million and Net Leverage was 2.4x. The company extended long-term contracts with Avis and Hertz on terms it describes as materially less favorable, including fleet volume modulation rights that could materially affect future results, and recorded leadership and organizational changes while revising its 2026 full-year guidance for revenue, Adjusted EBITDA, Adjusted EPS and Free Cash Flow.
Vanguard Portfolio Management LLC reported its beneficial ownership of 5,496,885 shares of Verra Mobility Corp common stock on an amended Schedule 13G. This position represents 3.61% of the outstanding common stock, which is ownership of 5 percent or less of the class.
The firm has sole voting power over 486,005 shares and sole dispositive power over 5,496,885 shares, with no shared voting or dispositive power. The filing explains that the reported securities are beneficially owned by Vanguard Portfolio Management LLC along with certain affiliated entities and Vanguard funds and managed accounts.
Verra Mobility Corporation reached an agreement with Avis Budget Group on the key commercial terms of a new seven-year tolling and violations services contract, and the parties are working to finalize remaining operational terms and conditions. The commercial terms are not being disclosed, but the company expects the new agreement to be materially less favorable from a financial perspective than its prior agreement with Avis Budget Group. The renewed relationship allows Avis Budget Group to selectively perform certain activities internally while extending a nearly two-decade partnership built around Verra Mobility’s tolling and violations management capabilities for large vehicle fleets. Verra Mobility supports more than 7.6 million vehicles globally, processed over 350 million toll transactions and more than 5.6 million violations for fleet customers in 2025, and serves more than 300 communities with its smart mobility technology solutions.