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Turtle Beach Corp·4

Apr 2, 7:36 PM ET

Keirn Cris 4

Research Summary

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Updated

Turtle Beach (TBCH) CEO Keirn Cris Exercises/Converts Equity, Withholds 19,812 Shares

What Happened

  • Keirn Cris, CEO and director of Turtle Beach Corporation, had multiple equity awards convert/vest on April 1, 2026 and received a total award/conversion of 61,154 shares (derivative awards). To satisfy tax withholding on the vesting/conversion, 19,812 shares were withheld/paid at an implied per-share value of $10.22 for a total tax withholding of $202,479. Several derivative/option conversions (listed in the filing) were also recorded as exercised/converted.

Key Details

  • Transaction date: April 1, 2026; Form 4 filed April 2, 2026 (timely).
  • Converted/vested/awarded (derivative conversions and grants): entries include 3,974; 6,920; 5,250; 7,000; 6,552; 8,544 shares and a grant/award of 61,154 shares (see filing).
  • Shares withheld for tax/paid: 19,812 shares at $10.22 per share = $202,479 (transaction code F = payment of exercise price or tax liability).
  • Many items are derivative transactions (code M = exercise/conversion of derivative; code A = grant/award). Some entries show $0.00 per share reflecting conversion of PSUs/RSUs into common stock rather than a cash purchase.
  • Notable footnotes: PSUs and RSUs converted one-for-one into common stock (F1, F2); some PSUs vested based on performance (F5) and multi-year vesting schedules apply to several RSU/PSU tranches (F6, F8–F12). F3 confirms shares were withheld to satisfy tax liabilities upon vesting.
  • Shares owned after the transactions are not specified in the provided excerpt of the filing.

Context

  • This filing reflects vesting/conversion of restricted stock units and performance stock units (and related derivative exercises), not an open-market sale. The withholding of shares to pay taxes is a routine, administrative step (often called net-share settlement or tax withholding) and should not be interpreted as an open-market disposition for investment judgment.
  • Where options or derivatives were exercised and shares immediately used to satisfy withholding, that is effectively a cashless/settlement action rather than a sale to a third party.