McIntosh Brent 4
4 · CITIGROUP INC · Filed Feb 24, 2026
Research Summary
AI-generated summary of this filing
Citigroup CLO Brent McIntosh Receives Award (Performance PSUs)
What Happened
Brent McIntosh, Citigroup’s Chief Legal Officer & Corporate Secretary, was awarded 27,519.09 Performance Share Units (PSUs) on 2026-02-20. The grant is reported as a derivative award (code A) with an acquisition price of $0.00; the PSUs are payable only in cash and are expected to be paid on or about February 28, 2026.
Key Details
- Transaction date: 2026-02-20; Form 4 filed 2026-02-24 (timely filed).
- Award type/code: Performance Share Units (derivative award, code A).
- Shares/units awarded: 27,519.09 PSUs (cash-settled). Reported acquisition price: $0.00.
- Original target: 53,748.23 PSUs granted 2023-02-16 with 0%–150% payout range; the earned amount (27,519.09) is about 51% of target.
- Cash value determination: Each PSU equals the cash value of one share based on the average closing price for the 20 trading days before Jan 20, 2026, plus dividends declared from Dec 31, 2022 through Feb 28, 2026. Final cash payout will be calculated at settlement.
- Shares owned after transaction: Not specified in this filing.
- Filing timeliness: Filed within required period (not flagged late).
Context
PSUs are performance-based, cash-settled awards tied to Citigroup’s RoTCE and cumulative tangible book value per share over the 2023–2025 performance period. Because these units are paid in cash rather than delivered as stock, this award does not change the insider’s share count directly but does represent compensation earned based on company performance. Such awards are routine long-term compensation and do not by themselves indicate the insider’s short-term trading sentiment.
Insider Transaction Report
- Award
Performance Share Units
[F1][F2]2026-02-20+27,519.09→ 27,519.09 total→ Common Stock (27,519.09 underlying)
- 129,480.79
Common Stock
Footnotes (2)
- [F1]On February 16, 2023 the Reporting Person received from the Issuer a target award of 53,748.23 Performance Share Units ("PSUs"), with the possibility to earn from 0% to 150% of the target award, based on (i) the Issuer's average return on tangible common equity ("RoTCE") over the three-year period ending on December 31, 2025 (the "Performance Period") and (ii) the Issuer's cumulative tangible book value per share ("TBVPS") over the Performance Period. Based on performance during the Performance Period, the Reporting Person is entitled to receive 27,519.09 PSUs.
- [F2](con't) Each PSU is payable only in cash which is expected to be delivered on or about February 28, 2026. Each PSU is equivalent to the cash value of the average of the closing prices of one share of the Issuer's common stock on the New York Stock Exchange for the twenty trading days immediately preceding January 20, 2026, plus dividends declared on equivalent shares of the Issuer's common stock from December 31, 2022 through February 28, 2026.