Verra Mobility (VRRM) CAO Hiten Patel Converts RSUs, Sells Shares for Taxes

What Happened Hiten M. Patel, Chief Accounting Officer of Verra Mobility (VRRM), had restricted stock units (RSUs) convert into common shares on August 9, 2026. A total of 4,190 RSUs converted into 4,190 shares (reported as derivative exercises at $0). To satisfy tax withholding, 1,772 shares were disposed (sold) at $4.90 per share, producing proceeds of approximately $8,683. The remaining 2,418 shares were retained by Patel from this vesting event.

Key Details

• Transaction date: August 9, 2026; Form 4 filed August 11, 2026 (timely filing).
• Conversion: 3,184 + 1,006 = 4,190 RSUs converted to shares (reported as code M, derivative exercise, $0 per share).
• Tax withholding/sale: 1,347 shares and 425 shares withheld/sold (total 1,772) at $4.90 each, totaling ~$6,600 and ~$2,083 respectively — combined ~$8,683 (reported as code F).
• Net shares retained from this vesting: 4,190 − 1,772 = 2,418 shares.
• Footnotes: F1–F3 confirm these were RSUs (one share per RSU) granted Aug 9, 2024, with multi-year vesting schedules; vested shares are delivered on settlement dates.
• Transaction codes: M = exercise/conversion of derivative (RSU conversion); F = shares withheld/sold to pay tax liability.

Context This appears to be a routine vesting event where RSUs converted to shares and a portion was withheld/sold to cover payroll taxes — a common, non-discretionary action that doesn’t necessarily signal the insider’s view of the stock. The filing shows the mechanics (conversion + tax withholding) rather than an open-market, discretionary sale.