Hummer Ryan 4
4 · NCS Multistage Holdings, Inc. · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
NCS Multistage (NCSM) CEO Ryan Hummer Exercises Derivatives and Sells Shares
What Happened
- Ryan Hummer, CEO of NCS Multistage Holdings, exercised/converted equivalent stock units on Feb 28, 2026 and received awards in early March. Several actions were cash-settled or involved surrendering shares to the issuer to cover tax obligations.
- Specific movements: on Feb 28 he converted 10,211 equivalent units and had 10,211 shares (cash value $39.84 each) applied to satisfy tax/payment obligations ($406,806) plus 588 shares surrendered ($23,426). On Mar 2 a grant of 30,844 units was reported and 10,424 shares were surrendered at $40.93 ($426,654). On Mar 3 additional grants totaling 17,153 units were reported. Total value of shares surrendered/paid reported across these transactions is about $856,886.
- These actions are largely tax withholding/settlement related and awards (RSUs/PSUs) were granted — not open-market purchases (so not a bullish long-term buy signal).
Key Details
- Transaction dates and values:
- 2026-02-28: Conversion/exercise of 10,211 equivalent stock units; tax/payment withholding of 10,211 shares @ $39.84 = $406,806; 588 shares surrendered @ $39.84 = $23,426.
- 2026-03-02: Grant/award of 30,844 units (RSU/PSU); 10,424 shares surrendered @ $40.93 = $426,654.
- 2026-03-03: Grants/awards of 5,679 and 11,474 units (total 17,153 units) reported as awards.
- Shares owned after the transactions: filing excerpt provided does not state total beneficial ownership after these transactions.
- Notable footnotes:
- Some units were “equivalent stock units” that settle in cash (F1, F5).
- Several surrendered shares were to satisfy tax withholding related to vested restricted stock units (RSUs) and performance stock units (PSUs) (F2, F3).
- Certain RSUs vest in installments beginning Feb 28, 2027 (F4, F6); PSUs are performance-based and may settle for 0–1.25 shares each in Q1 2029 based on relative total shareholder return and committee certification (F8).
- Filing: Form 4 was filed with the SEC on 2026-03-03 as reported (no late-filing flag noted in the provided data).
Context
- These transactions include cash settlements and “sell-to-cover” type actions to satisfy tax obligations (common when RSUs/PSUs vest or equivalents are cashed out). That differs from an open-market sale driven by liquidity needs and from a purchase that signals added insider conviction.
- The reported PSUs are contingent on multi-year performance and will only convert to shares (up to 1.25 per unit) after performance is certified in 2029, so those grants are future, performance-dependent compensation rather than immediate stock ownership.
Insider Transaction Report
Form 4
Hummer Ryan
DirectorChief Executive Officer
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-02-28+10,211→ 43,594 total - Tax Payment
Common Stock
[F1]2026-02-28$39.84/sh−10,211$406,806→ 33,383 total - Disposition to Issuer
Common Stock
[F2]2026-02-28$39.84/sh−588$23,426→ 32,795 total - Award
Common Stock
2026-03-02+30,844→ 63,639 total - Disposition to Issuer
Common Stock
[F3]2026-03-02$40.93/sh−10,424$426,654→ 53,215 total - Award
Common Stock
[F4]2026-03-03+5,679→ 58,894 total - Exercise/Conversion
Equivalent Stock Units
[F5][F1][F6]2026-02-28−10,211→ 12,623 total→ Common Stock (10,211 underlying) - Award
Equivalent Stock Units
[F5][F7]2026-03-03+5,679→ 18,302 total→ Common Stock (5,679 underlying) - Award
Performance Stock Units
[F8]2026-03-03+11,474→ 11,474 totalExp: 2028-12-31→ Common Stock (11,474 underlying)
Footnotes (8)
- [F1]Equivalent stock units vested on February 28, 2026 and settled for cash.
- [F2]These shares were surrendered to satisfy the tax obligations related to the vesting of restricted stock units.
- [F3]These shares were surrendered to satisfy the tax obligations related to the vesting of performance stock units.
- [F4]Includes 4,826 restricted stock units which vest in two equal annual installments beginning on February 28, 2027 and 5,679 restricted stock units which vest in three equal annual installments beginning on February 28, 2027.
- [F5]These equivalent stock units settle in cash and represent the economic equivalent of one share of common stock, provided that the amount of cash settled for any equivalent stock unit will not exceed the maximum payout established by the Compensation, Nominating and Governance Committee.
- [F6]The number of derivative securities reported in column 9 represents 7,797 equivalent stock units which vest on February 28, 2027 and 4,826 equivalent stock units which vest in two equal annual installments beginning on February 28, 2027.
- [F7]The number of derivative securities reported in column 9 represents 7,797 equivalent stock units which vest on February 28, 2027, 4,826 equivalent stock units which vest in two equal annual installments beginning on February 28, 2027 and 5,679 equivalent stock units which vest in three equal annual installments beginning on February 28, 2027.
- [F8]These performance stock units represent a contingent right to receive common stock, based on the Issuer's relative total shareholder return versus that of its peer group, subject to an absolute total shareholder return modifier. Each performance stock unit will settle for between zero and 1.25 shares of common stock in the first quarter of 2029, based on achievement of the performance measures over a three-year period, following certification by the Compensation, Nominating and Governance Committee of the performance results.
Signature
/s/ Ori Lev, attorney-in-fact|2026-03-03