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Turtle Beach Corp·4

May 4, 9:00 PM ET

Keirn Cris 4

4 · Turtle Beach Corp · Filed May 4, 2026

Research Summary

AI-generated summary of this filing

Updated

Turtle Beach (TBCH) CEO Keirn Cris Receives Award, Exercises/Converts Units

What Happened

  • Keirn Cris, CEO and director of Turtle Beach Corporation (TBCH), had performance stock units (PSUs) convert into 4,266 common shares on May 1, 2026. Of those, 2,173 shares were withheld/disposed to satisfy tax withholding obligations, generating proceeds/value of $24,381 at $11.22 per share (reported as a disposition for tax withholding).
  • The filing also shows a grant/award of 12,928 restricted stock units (RSUs) on May 1, 2026 (reported as acquired at $0.00, i.e., a non-cash equity award) and related derivative conversion/exercise activity reported the same date.

Key Details

  • Transaction dates: primary activity reported for May 1, 2026 (PSU conversion, RSU grant); tax withholding reported April 1, 2026 (disposition of 2,173 shares at $11.22 = $24,381).
  • Transaction codes: M = exercise/conversion of derivative (PSUs converted one-for-one into shares); F = shares withheld to satisfy tax withholding; A = grant/award (RSUs).
  • Vesting and performance notes: PSUs were earned based on performance criteria (see footnotes) and vest/schedule: 4,266 on May 1, 2026; 4,266 on April 1, 2027; 4,396 on April 1, 2028. The 12,928 RSUs carry multi-year time-based vesting (see footnotes for schedule through 2027–2030).
  • Shares owned after the transactions are not specified in the materials provided in this summary.
  • Filing timeliness: Reported period of May 1, 2026 and filed May 4, 2026 — appears timely (no late‑filing flag noted).

Context

  • These transactions are largely non‑open‑market equity compensation events: PSUs converted (earned performance shares) and a grant of RSUs; the sale/disposition was a routine withholding of shares to cover taxes, not a market sale intended as diversification or cashing out.
  • For retail investors: awards and conversions reflect compensation/retention and achievement of performance targets, while the withheld shares to cover taxes are administrative and common with vested equity.

Insider Transaction Report

Form 4
Period: 2026-05-01
Turtle Beach CorpTBCH
Keirn Cris
DirectorCEO
Transactions
  • Exercise/Conversion

    Common Stock

    [F1]
    2026-05-01+4,266→ 80,829 total
  • Tax Payment

    Common Stock

    [F2]
    2026-04-01$11.22/sh−2,173$24,381→ 78,656 total
  • Award

    Performance Stock Units

    [F3][F4]
    2026-05-01+12,928→ 12,928 total
    → Common stock (12,928 underlying)
  • Exercise/Conversion

    Performance Stock Units

    [F3][F5]
    2026-05-01−4,266→ 8,662 total
    → Common stock (4,266 underlying)
Holdings

  • Restricted Stock Units

    [F6][F7]
    → Common stock (7,000 underlying)
    7,000

  • Restricted Stock Units

    [F6][F8]
    → Common stock (13,104 underlying)
    13,104

  • Restricted Stock Units

    [F6][F9]
    → Common stock (25,632 underlying)
    25,632

  • Restricted Stock Units

    [F6][F10]
    → Common stock (61,154 underlying)
    61,154

  • Stock Option (Right to Buy)

    [F11]
    Exercise: $12.10Exp: 2029-04-01→ Common stock (19,167 underlying)
    19,167

  • Stock Option (Right to Buy)

    [F11]
    Exercise: $5.95Exp: 2030-04-01→ Common stock (12,605 underlying)
    12,605
Footnotes (11)
  • [F1]Performance stock units ("PSUs") were converted into common stock on a one-for-one basis.
  • [F10]One-quarter of these RSUs will vest on April 1, 2027, with the remainder of the RSUs vesting in equal annual installments until April 1, 2030.
  • [F11]These options were exercisable as of the transaction date.
  • [F2]Represents shares withheld to satisfy tax withholding obligations upon the vesting of PSUs awarded to the reporting person.
  • [F3]These securities are PSUs representing a contingent right to receive one share of Turtle Beach Corporation common stock or, cash with a value equal to the fair market value of the underlying common stock or, a combination thereof.
  • [F4]Acquired upon achievement of certain performance criteria of PSUs granted to the reporting person on April 1, 2025 under the Turtle Beach Corporation 2023 Stock Based Incentive Compensation Plan, as amended. Performance was measured over 12 months (May 1, 2025 through May 1, 2026) with respect to a stock price performance metric and 12 months (January 1, 2025 through December 31, 2025) with respect to an Adjusted EBITDA performance metric, with additional time-based vesting for earned units over two years.
  • [F5]These PSUs granted on April 1, 2025 vest as follows: 4,266 on May 1, 2026, 4,266 on April 1, 2027 and 4,396 on April 1, 2028.
  • [F6]The securities are restricted stock units ("RSUs") representing a contingent right to receive one share of Turtle Beach Corporation common stock or, cash with a value equal to the fair market value of the underlying common stock or, a combination thereof.
  • [F7]These RSUs vest in equal annual installments until April 1, 2027.
  • [F8]These RSUs vest in equal annual installments until April 1, 2028.
  • [F9]These RSUs vest in equal annual installments until April 1, 2029.
Signature
/s/ Megan S. Wynne, attorney-in-fact for Cris Keirn|2026-05-04

Documents

1 file
  • 4
    form4.xmlPrimary