Covista (CVSA) CDO Michael Betz Receives Performance Shares

What Happened

• Michael Betz, President of Walden University and Chief Development Officer of Covista, received company stock in the form of performance/share awards on Aug 23, 2026 and had shares withheld to cover tax obligations. He was issued 7,320 shares ($968,802) and 5,124 shares ($678,161) at $132.35 per share (total acquired 12,444 shares, $1,646,963). To satisfy withholding, 945 shares ($125,071), 3,302 shares ($437,020), and 2,311 shares ($305,861) were disposed (total withheld 6,558 shares, $867,952). Net result: a net increase of 5,886 shares (about $779,011).

Key Details

• Transaction date: August 23, 2026; reported on Form 4 filed August 25, 2026 (timely — within the 2-business-day Form 4 window).
• Transaction price reported: $132.35 per share for all items.
• Shares acquired: 7,320 and 5,124 (total 12,444 shares; $1,646,963).
• Shares disposed (tax withholding): 945, 3,302 and 2,311 (total 6,558 shares; $867,952).
• Shares owned after the transaction: Not provided in the supplied filing details.
• Footnotes: F2 indicates common stock was issued in payout of performance share units awarded on Nov 8, 2023; F1 and F3 indicate the disposals represent satisfaction of tax withholding obligations upon vesting.

Context

• These transactions are awards/settlement-related, not open-market purchases or sales: the acquisitions are stock issued in payout of performance share units, while the disposals are routine share withholdings to cover taxes (a form of net settlement). Such award issuances increase insider holdings, but because they stem from compensation plans they do not necessarily reflect a new cash investment by the insider.