Kovachev Kiril 4

What Happened

• Kiril Kovachev, Chief Accounting Officer of CECO Environmental Corp. (CECO), had 1,753 restricted stock units (RSUs vest) on March 16, 2026 (reported as an award/grant). The RSUs show an acquisition at $0.00.
• To cover tax withholding on the vesting, a total of 726 shares were withheld/disposed across two net-settlement transactions: 380 shares on 2026-03-15 at $54.50 ($20,710) and 346 shares on 2026-03-17 at $57.06 ($19,743). Combined withholding value ≈ $40,453.
• Net from the vesting event, Kovachev received 1,027 shares (1,753 vested − 726 withheld). This reflects a routine tax-withholding cashless settlement rather than an open-market sale.

Key Details

• Transaction types/codes: A = award/grant (1,753 RSUs on 2026-03-16 at $0.00); F = tax withholding/net settlement (380 shares on 2026-03-15 @ $54.50; 346 shares on 2026-03-17 @ $57.06).
• Dollar amounts: 380 × $54.50 = $20,710; 346 × $57.06 = $19,743; total withheld ≈ $40,453.
• Shares owned after transaction: Not specified in the filing; net shares received from this vesting = 1,027.
• Footnotes: F1 indicates shares were withheld for net settlement to cover tax liability on RSU vesting. F2 notes inclusion of 120 shares acquired under CECO’s 2020 Employee Stock Purchase Plan (as disclosed in the filing).
• Timeliness: Form 4 was filed on 2026-03-17 for transactions between 2026-03-15 and 2026-03-17 (reported timely).

Context

• This filing reflects RSU vesting with net settlement tax withholding — a common administrative action that reduces newly vested shares to satisfy tax obligations. It is not an open-market sale and should not be read as an explicit bearish signal.
• Transaction codes: A = award/grant (vesting); F = tax withholding/net settlement.