Willems Tim 4

What Happened
Tim Willems, Chief Operations Officer of NCS Multistage Holdings (NCSM), had vested equity settled and surrendered shares to cover tax obligations, and received new equity awards. Key moves: equivalent stock units (6,880) vested/converted on Feb 28 and were settled (cash/stock mechanics), triggering share surrenders to cover taxes — a tax-withholding disposition of 6,880 shares valued at $39.84 each (≈ $274,099). Additional dispositions to the issuer include 489 shares on Feb 28 at $39.84 (≈ $19,482) and 2,316 shares on Mar 2 at $40.93 (≈ $94,794). Following these settlements, Willems was granted new awards (restricted/performance stock units) on Mar 2 and Mar 3 totaling several thousand equivalent/award units.

Key Details

• Transaction dates and amounts:
  • 2026-02-28: 6,880 equivalent units vested/converted (exercise/conversion M) and settled; tax-withholding surrender of 6,880 shares @ $39.84 = $274,099 (F1, F2).
  • 2026-02-28: Disposition to issuer of 489 shares @ $39.84 = $19,482 (F2/F3).
  • 2026-03-02: Grant of 9,173 shares (award A) (no cash) and disposition to issuer of 2,316 shares @ $40.93 = $94,794 (tax withholding).
  • 2026-03-03: Grants of 2,498 shares (award A) and derivative awards totaling 2,498 and 5,047 equivalent units (no cash).
  • Total proceeds/value associated with surrendered/disposed shares shown in the filing ≈ $388,375.
• Shares owned after the transactions: not specified in the information provided in this summary (Form 4 shows the transactions but ownership totals were not included here).
• Footnotes / mechanics to note:
  • F1: Equivalent stock units vested Feb 28, 2026 and were settled for cash.
  • F2/F3: Certain shares were surrendered to the issuer to satisfy tax obligations upon vesting.
  • F4: Some restricted stock units included in the grants vest in annual installments starting Feb 28, 2027.
  • F5: Some equivalent stock units settle in cash and represent the economic equivalent of one share, subject to a maximum payout.
  • F6–F7: Detail vesting schedules of the reported derivative-equivalent units (future vesting dates).
  • F8: Performance stock units (PSUs) are contingent and may settle for 0–1.25 shares each based on three‑year relative TSR performance (payment expected Q1 2029 if earned).
• Filing date: Form 4 filed March 3, 2026, reporting transactions between Feb 28 and Mar 3, 2026.

Context and what it means for investors

• These transactions appear to be routine vesting and tax-withholding settlements rather than open-market, discretionary sales — shares were surrendered to the issuer to satisfy tax obligations (common when RSUs/PSUs vest or equivalents are cash-settled). That makes them less indicative of a change in the insider’s market view than a voluntary sale would be.
• New awards (RSUs and PSUs) were granted with multi-year vesting conditions (some time-based and some performance-based), so future share issuance or cash settlement depends on vesting/achievement of performance metrics.
• For retail investors: routine tax withholding and grant activity is normal for executives; purchases or open-market sales are typically more informative about insider sentiment.