Barger Rachel A. 4

What Happened

• Rachel A. Barger, a director of CSG Systems International, disposed of 14,532 shares on May 14, 2026. The shares were converted into cash at $80.70 per share as part of the company's merger with NEC/Canvas Transaction Company, generating $1,172,732 (gross) to the reporting person. This was a disposition to the issuer under the merger agreement, not an open-market sale.

Key Details

• Transaction date and price: May 14, 2026 at $80.70 per share.
• Shares/total value: 14,532 shares → $1,172,732 (gross).
• Transaction code: D (Disposition to the issuer) — conversion under the Merger Agreement.
• Filing date: May 18, 2026 (filed within the Form 4 timing window).
• Shares owned after transaction: not specified in the Form 4 provided.
• Notable footnotes:
  • F1: The disposition occurred pursuant to the Merger Agreement dated Oct 29, 2025; each share (and each unvested restricted stock award) was converted into the right to receive $80.70 in cash, less applicable withholding.
  • F2: The reported amount includes 3,085 RSAs. Payments for unvested RSAs remain subject to vesting conditions on substantially the same terms as before the merger, except as modified by the merger.

Context

• This transaction resulted from a corporate merger (CSG became a wholly owned subsidiary of NEC) and reflects the merger consideration paid to shareholders, not a discretionary insider open-market sale. For retail investors, merger-driven dispositions are routine outcomes of change-of-control deals and do not necessarily indicate the insider’s view about the company’s future performance.