Conley Gregory A 4

What Happened

• Gregory A. Conley, a director of CSG Systems International, reported a disposition to the issuer on May 14, 2026: 14,792 shares were converted/paid out at $80.70 per share, for a total of $1,193,714 (before any applicable withholding).
• This was not an open-market sale but the cash-out of shares under the company's merger: Merger Sub merged into the issuer and each share (and unvested restricted stock) was converted into the right to receive $80.70 in cash.

Key Details

• Transaction date and price: May 14, 2026 — $80.70 per share.
• Shares involved: 14,792 total; transaction value $1,193,714 (gross).
• Includes 3,085 restricted stock awards (RSAs). Payment for unvested RSAs will be subject to vesting conditions substantially similar to the pre-merger terms (per filing footnote).
• Withholding: cash payments are net of any applicable withholding taxes.
• Filing: Form 4 filed May 18, 2026 (timely relative to the May 14 transaction).

Context

• This disposition is merger-related (conversion of shares to cash), not a typical voluntary sale; such transactions reflect deal terms rather than the insider taking a public market view.
• For retail investors: merger-driven cash-outs should be distinguished from discretionary insider sales—these are routine closings under a merger agreement and do not necessarily signal management sentiment about future performance.