JOLAS PAUL M 4

What Happened

• Paul M. Jolas, EVP, General Counsel & Secretary of Custom Truck One Source (CTOS), had derivative instruments converted/vested and received equity on April 1, 2026. The filing shows an exercise/conversion of derivatives for 50,625 shares (reported as acquired at $0) and a separate grant/award of 72,500 restricted stock units (RSUs) (acquired at $0).
• To cover tax obligations arising from vesting, 19,923 shares were withheld/disposed at $6.62 per share, totaling $131,890. The Form 4 also lists three derivative disposition entries of 16,875 shares each (totaling 50,625), which are reported in connection with the conversions/settlements.

Key Details

• Transaction date: April 1, 2026 (Form filed April 3, 2026).
• Prices and values: conversions/acquisitions reported at $0; 19,923 shares withheld at $6.62 = $131,890.
• Shares reported: 50,625 shares converted/acquired; 72,500 RSUs granted; 19,923 shares withheld for taxes. The filing does not state total shares beneficially owned after these transactions.
• Footnotes: F1–F2 confirm RSUs represent rights to receive one share and that shares were withheld to satisfy tax withholding. F3–F6 describe varying four-year vesting schedules for different RSU grants (vesting beginning 2024–2027; some subject to continued service and potential partial acceleration).
• Timeliness: Filed April 3, 2026 for transactions on April 1, 2026 (no late-file flag shown).

Context

• These entries reflect typical executive equity vesting and related tax withholding rather than an open-market sale or a discretionary purchase. The withholding of 19,923 shares to satisfy taxes is a routine administrative step and not a market-sale signal about insider sentiment.
• The 72,500 RSU award is subject to multi-year vesting per the footnotes, so those shares are not immediately available for sale unless and until they vest.