Keirn Cris 4

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.