MORRISON MICHAEL L 4
4 · NCS Multistage Holdings, Inc. · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
NCSM CFO Michael Morrison Exercises and Sells Shares
What Happened
- Michael L. Morrison, CFO & Treasurer of NCS Multistage (NCSM), had vested equity settled and received new equity awards. On Feb 28, 2026, 4,972 equivalent stock units vested and were cash-settled (exercise/conversion) and related tax withholding/payment of $198,084 was recorded. Portions of vested restricted and performance units were surrendered/withheld to satisfy tax obligations: 262 shares surrendered on Feb 28 ($10,438) and 2,019 shares surrendered on Mar 2 ($82,638). New awards were granted on Mar 2 (7,996 shares) and Mar 3 (2,463 and 4,978 equivalent units) with future vesting schedules.
Key Details
- Transaction dates & values:
- 2026-02-28: 4,972 equivalent stock units cash-settled (exercise/conversion); tax payment recorded $198,084 (code F).
- 2026-02-28: 262 RSUs surrendered to issuer for taxes at $39.84 each = $10,438 (code D).
- 2026-03-02: 7,996 RSU award (code A) and 2,019 PSUs surrendered to issuer at $40.93 each = $82,638 (code D).
- 2026-03-03: Grants of 2,463 and 4,978 restricted/equivalent units (code A; some reported as derivative equivalents).
- Total cash/share dispositions related to these actions ≈ $291,160.
- Shares owned after transactions: not specified in the provided filing.
- Notable footnotes:
- F1/F5: Certain equivalent stock units settle in cash (economic equivalent of one share); F1 notes vested units were cash-settled.
- F2/F3: Shares were surrendered to satisfy tax obligations for RSUs and PSUs.
- F4/F6/F7: Grants include RSUs with multi-year vesting schedules (e.g., 2,145 and 2,463 RSUs vesting in installments beginning Feb 28, 2027).
- F8: PSUs are performance-based (TSR vs. peers), settling 0–1.25 shares per unit after certification in Q1 2029.
- Transaction types explained: M = exercise/conversion of derivative equivalents; F = payment/withholding for taxes; D = disposition to issuer (tax withholding/surrender); A = grant/award.
Context
- These transactions are largely routine compensation events: vested units were cash-settled and awards were granted, while shares were surrendered/withheld to cover tax obligations—not open-market sales. The PSUs include performance conditions and may pay out between 0 and 1.25 shares per unit after the three-year performance period (subject to certification).
Insider Transaction Report
Form 4
MORRISON MICHAEL L
CFO & Treasurer
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-02-28+4,972→ 12,451 total - Tax Payment
Common Stock
[F1]2026-02-28$39.84/sh−4,972$198,084→ 7,479 total - Disposition to Issuer
Common Stock
[F2]2026-02-28$39.84/sh−262$10,438→ 7,217 total - Award
Common Stock
2026-03-02+7,996→ 15,213 total - Disposition to Issuer
Common Stock
[F3]2026-03-02$40.93/sh−2,019$82,638→ 13,194 total - Award
Common Stock
[F4]2026-03-03+2,463→ 15,657 total - Exercise/Conversion
Equivalent Stock Units
[F5][F1][F6]2026-02-28−4,972→ 6,043 total→ Common Stock (4,972 underlying) - Award
Equivalent Stock Units
[F5][F7]2026-03-03+2,463→ 8,506 total→ Common Stock (2,463 underlying) - Award
Performance Stock Units
[F8]2026-03-03+4,978→ 4,978 totalExp: 2028-12-31→ Common Stock (4,978 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 2,145 restricted stock units which vest in two equal annual installments beginning on February 28, 2027 and 2,463 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 3,898 equivalent stock units which vest on February 28, 2027 and 2,145 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 3,898 equivalent stock units which vest on February 28, 2027, 2,145 equivalent stock units which vest in two equal annual installments beginning on February 28, 2027 and 2,463 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