Turek Zdenek 4
4 · CITIGROUP INC · Filed Feb 24, 2026
Research Summary
AI-generated summary of this filing
Citigroup CRO Zdenek Turek Receives PSU Award
What Happened
Zdenek Turek, Chief Risk Officer of Citigroup, was credited with 34,248 performance share units (PSUs) tied to a prior 2023 target award and had 5,339.19 shares of common stock withheld to satisfy tax withholding obligations. The withheld shares were valued at $115.55 each, totaling $616,943. The PSUs are cash-settled (recorded at $0 on the Form 4) and are expected to be paid in cash around February 28, 2026.
Key Details
- Transaction date: February 20, 2026 (Form 4 filed February 24, 2026 — filing appears timely).
- Withholding (F): 5,339.19 shares withheld at $115.55 per share — proceeds/withholding value = $616,943 (disposition to cover taxes).
- Award (A): 34,248 PSUs reported as acquired (derivative; recorded at $0 on Form 4).
- PSU background (Footnote): Original target award on Feb 16, 2023 was 66,890.62 PSUs (0–150% payout range). Based on performance through Dec 31, 2025 (RoTCE and cumulative TBVPS), the earned payout was 34,248 PSUs.
- PSU payout mechanics: Each PSU pays in cash equal to the average closing price of Citigroup stock for the 20 trading days before Jan 20, 2026, plus dividends from Dec 31, 2022 through expected payment date; payment expected on/about Feb 28, 2026.
- Shares owned after transaction: not specified in the filing.
- Transaction codes: F = tax withholding (routine); A = award/grant (derivative).
Context
This was not an open-market purchase or directional sale; the PSUs are performance-based and will be paid in cash, and the share disposition was a routine withholding to satisfy tax obligations upon vesting. Such tax-withholding dispositions are common and do not necessarily indicate insider sentiment about the stock.
Insider Transaction Report
- Tax Payment
Common Stock
[F1]2026-02-20$115.55/sh−5,339.19$616,943→ 237,471.65 total - Award
Performance Share Units
[F2][F3]2026-02-20+34,248→ 34,248 total→ Common Stock (34,248 underlying)
- 125.693(indirect: By 401(k))
Common Stock
Footnotes (3)
- [F1]Withholding of shares of common stock to satisfy tax withholding obligations in connection with the vesting of previously awarded stock.
- [F2]On February 16, 2023 the Reporting Person received from the Issuer a target award of 66,890.62 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 34,248.00 PSUs.
- [F3](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.