Selvakesari Anand 4

What Happened
Selvakesari Anand, Chief Operating Officer of Citigroup Inc., was awarded 34,255.54 performance share units (PSUs) on 2026-02-20. The award is reported as a derivative acquisition at $0.00 (grant). These PSUs are payable only in cash (not shares) and are expected to be delivered on or about February 28, 2026, based on a stock-price formula described below.

Key Details

• Transaction date: February 20, 2026; Transaction code: A (award/grant); Price: $0.00 (grant).
• Amount awarded: 34,255.54 PSUs (derivative units payable in cash).
• Payout timing: Expected on or about February 28, 2026.
• Footnotes: The PSUs were part of a target award of 66,905.35 PSUs granted Feb 16, 2023; actual payout (0–150% range) was determined by Citigroup’s average RoTCE and cumulative TBVPS for the 3‑year performance period ending Dec 31, 2025. Each PSU’s cash value equals the average closing price of Citigroup stock for the 20 trading days before Jan 20, 2026, plus dividends declared from Dec 31, 2022 through Feb 28, 2026.
• Shares owned after transaction: Not specified in this filing.
• Filing timeliness: Form 4 was filed on Feb 24, 2026 for a Feb 20, 2026 transaction (filed within required business-day window).

Context
PSUs are performance-based equity awards that vest/pay only if specified company performance goals are met; this award is payable in cash rather than newly issued shares, so it will not directly increase Citigroup’s outstanding share count. Such awards reflect compensation tied to multi-year company metrics rather than an immediate market buy or sell by the insider.