CARROSINO MICHAEL 4

4 · IP STRATEGY HOLDINGS, INC. · Filed May 5, 2026

AI-generated summary of this filing

Updated May 6, 2026

IP Strategy (IPST) CFO Michael Carrosino Exercises RSUs, Withholds

What Happened

Michael Carrosino, EVP of Finance & CFO of IP Strategy Holdings (IPST), converted vested restricted stock units (RSUs) into 1,236 shares of common stock on May 2, 2026 (125 + 1,111 share conversions reported). To cover tax withholding obligations, a total of 368 shares were surrendered/withheld (38 + 330) at $5.50 per share for total tax withholding of $2,024. The filing shows certain derivative/RSU shares were cancelled and returned to the issuer’s treasury rather than sold for cash.

Key Details

Transaction date: May 2, 2026; Form 4 filed May 5, 2026.
Conversions (code M): 125 and 1,111 shares acquired (RSU conversions).
Tax withholding (code F): 38 and 330 shares withheld at $5.50 each = $209 and $1,815 (total $2,024).
Post‑transaction shares owned: not disclosed in the provided filing data.
Notable footnotes:
- F1: All share amounts reflect a 1‑for‑20 reverse stock split effective April 23, 2026.
- F2–F5: These were RSU vesting events (details show scheduled vesting from grants on Oct 1, 2025 and Dec 10, 2025 with installments including May 2, 2026).
- F3: The reporting person relinquished/cancelled shares to satisfy tax withholding; no shares were sold on the open market.

Context

This was not a market sale—Carrosino’s RSUs vested and converted to shares, and some of those shares were surrendered to the company to satisfy tax withholding (a common, administrative “cashless” settlement). That means the transaction does not indicate an open‑market disposition and should not be read as a conventional sale for liquidity or investment signaling.

Form 4

Period: 2026-05-02

EVP of Finance & CFO

Transactions

Exercise/Conversion
Common Stock
[F1][F2]
2026-05-02+125→ 1,971 total
Tax Payment
Common Stock
[F3]
2026-05-02$5.50/sh−38$209→ 1,933 total
Exercise/Conversion
Common Stock
[F2]
2026-05-02+1,111→ 3,044 total
Tax Payment
Common Stock
[F3]
2026-05-02$5.50/sh−330$1,815→ 2,714 total
Exercise/Conversion
Restricted Stock Units
[F2][F1][F4]
2026-05-02−125→ 125 total
→ Common Stock (125 underlying)
Exercise/Conversion
Restricted Stock Units
[F2][F5]
2026-05-02−1,111→ 4,814 total
→ Common Stock (1,111 underlying)

Footnotes (5)

[F1]All share amounts in this Form 4 reflect a 1-for-20 reverse stock split effected on April 23, 2026.
[F2]Each restricted stock unit ("RSU") represents a contingent right to receive one share of the issuer's common stock.
[F3]The reporting person relinquished the shares of Common Stock reported herein and the issuer cancelled such shares and returned them to issuer's treasury in exchange for remitting certain tax withholding obligations of the reporting person resulting from the vesting of the RSUs. As such, no shares of the issuer were sold by the reporting person.
[F4]Of the RSUs granted on October 1, 2025, 125 units were vested as of September 1, 2025. The remaining 500 units vest in equal quarterly installments over twelve (12) months beginning September 1, 2025, of which 375 units vested and settled on February 2, 2026. The remaining units vest in equal installments on May 2, 2026 and August 2, 2026, subject to continued service.
[F5]The RSUs vest over an eighteen (18) month period beginning December 10, 2025, with two (2) months of service-based vesting satisfied as of February 2, 2026. The remaining units vest in equal installments on May 2, 2026, August 2, 2026, November 2, 2026, and February 2, 2027, subject to continued service.

Signature

/s/ Justin B. Stiefel, attorney-in-fact for Michael Carrosino|2026-05-05

1 file