JOLAS PAUL M 4

What Happened

• Paul M. Jolas, Executive Vice President, General Counsel & Secretary of Custom Truck One Source, was granted 16,739 shares (reported as an award/acquisition) on February 23, 2026. The grant price is reported as $0.00 (no cash paid at grant), so the immediate reported value is $0.
• This award represents performance stock units (PSUs) that were earned based on performance criteria for the period ending December 31, 2025; they remain subject to a time-based vesting condition that will be satisfied on December 31, 2026.

Key Details

• Transaction date: February 23, 2026; Filing date: March 26, 2026 (appears to be filed late—Form 4s are normally due within 2 business days of the transaction).
• Transaction type/code: A (Award/Grant); Shares involved: 16,739; Price reported: $0.00.
• Shares owned after transaction: not disclosed in the filing.
• Footnote: PSUs were certified by the compensation committee as earned for the 2025 performance period; they vest time-based on 12/31/2026.
• No 10b5-1 plan, tax-withholding sale, or immediate disposition was reported.

Context

• PSUs are performance-based equity awards that convert to actual shares only after performance conditions are met (already certified here) and any remaining vesting conditions lapse; these shares are not immediately transferable until the time-based vesting date.
• Because this is an award (not a purchase or sale), it does not reflect an immediate cash outlay or market sale by the insider and should be viewed as compensation rather than a direct bullish/sell signal.