NESR CFO Angeli Stefan Receives RSUs and Converts to Shares

What Happened

• Angeli Stefan, Chief Financial Officer of National Energy Services Reunited Corp. (NESR), received and settled restricted stock units (RSUs). On Mar 16, 2026, 33,334 RSUs vested and were converted into 33,334 ordinary shares (exercise/conversion recorded at $0). On Aug 14, 2026 the filing shows RSU activity: a conversion/exercise of 33,333 RSUs into shares (at $0) and two RSU awards recorded for 33,333 and 30,000 RSUs. The conversions were recorded with no cash paid or proceeds (price $0 / N/A).

Key Details

• Transaction dates and types:
  • 2026-03-16: 33,334 RSUs vested → 33,334 ordinary shares acquired; derivative converted/exercised at $0.
  • 2026-08-14: 33,333 RSUs converted/exercised at $0 (settled into shares); RSU awards of 33,333 and 30,000 recorded.
• Total newly issued/settled shares shown on these dates (vesting/settlement): 33,334 and 33,333 (per conversion entries).
• Share price / cash value: conversions recorded at $0 or N/A — filing shows no cash exchanged; market value not reported in this Form 4 excerpt.
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Footnotes:
  • F1: RSUs granted Aug 14, 2024 vested on Mar 16, 2026 (1 RSU = 1 ordinary share).
  • F2: RSUs granted Aug 14, 2025 vest in equal annual installments over three years.
  • F3: RSUs granted Aug 14, 2026 will vest Aug 14, 2027, subject to service.
• Filing timeliness: The Mar 16, 2026 vesting/settlement appears to have been reported late (Form 4 filed Aug 17, 2026); the Aug 14, 2026 items were reported promptly. Late filings can affect disclosure transparency but do not, by themselves, indicate misconduct.
• Remarks: Exhibit 24.1 (Power of Attorney) is included.

Context

• These transactions reflect RSU vesting/settlement and awards — not open-market purchases or sales. The derivative "M" entries represent conversion/exercise of RSUs (derivative instruments) into ordinary shares at $0, not a cash sale. RSU awards subject to future vesting (per footnotes) do not represent immediate share ownership until they vest.