Ionic Digital CEO Andy Stewart Receives 186,875 PRSU Award

What Happened

• Andy Stewart, Chief Executive Officer of Ionic Digital Inc. (IOND), was credited with 186,875 performance-vesting restricted stock units (PRSUs) on Sept. 29, 2026. The PRSUs were reported as acquired at $0.00 (no cash paid). These PRSUs are contingent rights to one share of Class A common stock each and are scheduled to vest on March 25, 2027, subject to continued employment and the award terms.
• The award resulted from the company’s AWDSP (average weighted daily stock price) reaching the $2.5 billion threshold, as certified by the compensation committee. The PRSUs were part of a 2025 grant of 560,625 PRSUs; 186,875 were earned, while 373,750 PRSUs remain outstanding and may vest if other performance conditions are met.

Key Details

• Transaction date: September 29, 2026; reported on Form 4 filed October 1, 2026 (timely filed within the usual two-business-day window).
• Transaction type/code: Award/Other acquisition (A); price reported $0.00.
• Units awarded: 186,875 PRSUs (each represents a contingent right to one share of Class A common stock).
• Vesting: Scheduled to vest March 25, 2027, subject to continued employment and award terms.
• Outstanding from original grant: 560,625 PRSUs granted in 2025; 373,750 remain unearned.
• Shares owned after transaction: Not specified in the filing.
• Footnotes/exhibits: F1–F3 explain PRSU terms and certification; Exhibit 24.1 = Power of Attorney.

Context

• These PRSUs are performance-based awards, not an open-market purchase or sale—no cash changed hands and no immediate shares were issued. They become ordinary shares only if and when the awards vest and are settled.
• Performance awards like this signal that a pre-set company valuation/price metric was met per the award agreement; they do not by themselves indicate insider buying or selling activity.