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NCS Multistage Holdings, Inc.·4

Mar 3, 5:20 PM ET

MORRISON MICHAEL L 4

Research Summary

AI-generated summary

Updated

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).