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|8-KFeb 17, 8:30 AM ET

CPI Card Group Inc. 8-K

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CPI Card Group Inc. Interim CFO Named as CFO Steps Down

What Happened

  • CPI Card Group Inc. filed an 8-K (dated Feb. 17, 2026) announcing that Jeffrey Hochstadt ceased serving as Chief Financial Officer effective February 13, 2026. He will remain employed through June 30, 2026 in an advisory capacity to support the CFO transition.
  • The Company appointed Terra Grantham (age 55) — currently Senior Vice President, Enterprise Strategy and Growth — as Interim Chief Financial Officer effective February 13, 2026. Ms. Grantham joined CPI Card Group in 2017 and has over 25 years of finance, strategy, and product experience, with prior roles at Western Union and Unilever.

Key Details

  • Effective date of change: February 13, 2026 (filing dated February 17, 2026).
  • Transition period: Mr. Hochstadt will advise the company through June 30, 2026.
  • Severance: Upon his June 30, 2026 departure, Mr. Hochstadt will be eligible for severance payments and benefits under the Company’s existing U.S. Executive Severance and Change in Control Guidelines (described in the Company’s 2025 Proxy Statement).
  • Compensation/related-party disclosures: No material changes to Ms. Grantham’s compensation were made in connection with her interim appointment as of the filing; she has no family ties to company officers/directors and is not party to reportable related-person transactions under Item 404(a).

Why It Matters

  • Leadership continuity: The appointment of an internal executive with broad finance and strategy experience aims to provide continuity during the CFO transition, which is important for financial planning, reporting, and investor communications.
  • Potential financial/compensation impact: The filing confirms potential severance obligations under the Company’s existing guidelines, as described in the 2025 Proxy Statement; investors may want to review that Proxy for details.
  • No immediate compensation changes or related-party issues were disclosed, limiting immediate governance concerns; investors should monitor further filings for a permanent CFO appointment or additional disclosure.