Miller Elizabeth Michelle 4

What Happened

• Elizabeth Michelle Miller, a director of Usio, had restricted stock units convert/vest on March 16, 2026. The Form 4 reports three related transactions: a conversion/acquisition of 2,000 shares at $1.21 ($2,420), a 500-share disposition at $1.21 ($605) to cover taxes, and a 2,000-share derivative disposition at $1.21 ($2,420). These entries reflect vesting/conversion activity rather than an open-market purchase.

Key Details

• Transaction date(s): March 16, 2026; reported price per share: $1.21.
• Reported transactions:
  • M (exercise/conversion): Acquired 2,000 shares @ $1.21 — $2,420.
  • F (tax withholding): 500 shares surrendered/returned @ $1.21 — $605.
  • M (exercise/conversion / derivative): Disposed 2,000 shares @ $1.21 — $2,420.
• Footnotes:
  • F1: Shares were received due to vesting and conversion of RSUs granted on March 16, 2023 and March 16, 2026.
  • F2: 500 shares were returned to the issuer at the $1.21 closing price on March 16, 2026 to cover taxes.
• Shares owned after transaction: not specified in the excerpt provided.
• Filing timeliness: Report filed March 20, 2026 for transactions on March 16, 2026 — appears to be filed late (Form 4 is generally due within two business days), transactionTimeliness = 'L'.

Context

• These entries represent RSU vesting/conversion and routine tax withholding/surrender, not a voluntary open-market purchase or a deliberate sale signal. For RSU conversions it’s common for some shares to be withheld or surrendered to cover taxes or exercise costs; the filing shows both shares acquired via conversion and shares surrendered/disposed as part of that process.