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Turtle Beach Corp·4

Mar 13, 6:45 PM ET

Keirn Cris 4

4 · Turtle Beach Corp · Filed Mar 13, 2026

Research Summary

AI-generated summary of this filing

Updated

Turtle Beach (TBCH) CEO Keirn Cris Receives PSU Award

What Happened

  • Keirn Cris, CEO and a director of Turtle Beach Corporation (TBCH), was reported as acquiring 3,974 performance stock units (PSUs) on March 12, 2026. The units were recorded at $0.00 (no cash paid) and are derivative awards that represent a contingent right to receive one share of common stock if performance and vesting conditions are met.

Key Details

  • Transaction date: 2026-03-12; Form 4 filed: 2026-03-13 (appears timely).
  • Transaction type/code: Award/Grant (A); 3,974 PSUs acquired at $0.00.
  • Nature of award: PSUs (F1) — contingent right to one common share upon satisfaction of performance criteria.
  • Performance and vesting: This reported acquisition represents one-third of a PSU grant made April 1, 2023; vesting is tied to revenue growth versus a baseline market growth and adjusted EBITDA targets, with potential payout from 0% to 200% and vesting subject to continued employment (details per F2). Related PSU installments noted in the filing include scheduled vesting on April 1, 2026 and April 1, 2027 (F3).
  • Shares owned after transaction: Not specified in the provided excerpt of the filing.
  • Price/value: Reported acquisition price $0.00; intrinsic value depends on TBCH market price at conversion/settlement.

Context

  • These are derivative awards, not open-market purchases or sales. PSUs only convert to actual shares (or cash equivalent, depending on plan terms) if the performance targets and vesting conditions are met and the insider remains employed through the required dates. Such awards are common executive compensation and reflect potential future equity rather than an immediate change in share ownership.

Insider Transaction Report

Form 4
Period: 2026-03-12
Turtle Beach CorpTBCH
Keirn Cris
DirectorCEO
Transactions
  • Award

    Performance Stock Units

    [F1][F2]
    2026-03-12+3,974→ 3,974 total
    → Common stock (3,974 underlying)
Holdings

  • Common Stock

    58,135

  • Performance Stock Units

    [F1][F3]
    → Common stock (14,051 underlying)
    14,051

  • Restricted Stock Units

    [F4][F5]
    → Common stock (5,250 underlying)
    5,250

  • Restricted Stock Units

    [F4][F6]
    → Common stock (14,000 underlying)
    14,000

  • Restricted Stock Units

    [F4][F7]
    → Common stock (19,656 underlying)
    19,656

  • Restricted Stock Units

    [F4][F8]
    → Common stock (34,176 underlying)
    34,176

  • Stock Option (Right to Buy)

    [F9]
    Exercise: $12.10Exp: 2029-04-01→ Common stock (19,167 underlying)
    19,167

  • Stock Option (Right to Buy)

    [F9]
    Exercise: $5.95Exp: 2030-04-01→ Common stock (12,605 underlying)
    12,605
Footnotes (9)
  • [F1]The securities are performance stock units ("PSUs") representing a contingent right to receive one share of Turtle Beach Corporation common stock.
  • [F2]Acquired upon achievement of certain performance criteria pursuant to one-third of the performance stock units granted April 1, 2023 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of performance stock units is determined over a three-year period based on (i) the amount by which revenue growth exceeds a defined baseline market growth each year and (ii) the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year, with the ability to earn and vest into such units ranging from 0% to 200%. These performance stock units will vest with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2026, subject to continued employment through such date.
  • [F3]These PSUs vest in installments of 6,920 shares on April 1, 2026 and 7,130 shares on April 1, 2027.
  • [F4]The securities are restricted stock units ("RSUs") representing a contingent right to receive one share of common stock or cash with a value equal to the fair market value of the underlying common stock or a combination thereof.
  • [F5]These RSUs vest in equal annual installments until April 1, 2026.
  • [F6]These RSUs vest in equal annual installments until April 1, 2027.
  • [F7]These RSUs vest in equal annual installments until April 1, 2028.
  • [F8]One-quarter of these RSUs will vest on April 1, 2026, with the remainder of the RSUs vesting in equal annual installments until April 1, 2029.
  • [F9]These options were exercisable as of the transaction date.
Signature
/s/ Megan S. Wynne, attorney-in-fact for Cris Keirn|2026-03-13

Documents

1 file
  • 4
    ownership.xmlPrimary

    4