LEV ORI 4
4 · NCS Multistage Holdings, Inc. · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
NCS Multistage (NCSM) EVP & GC Ori Lev Exercises Units, Surrenders Shares
What Happened
Ori Lev, Executive Vice President, General Counsel and Secretary of NCS Multistage (NCSM), had 5,289 equivalent stock units vest on Feb 28, 2026 that were cash-settled (exercise/conversion) for $210,714 (reported price $39.84). To cover tax obligations related to vesting, Lev surrendered shares to the issuer: 374 shares on Feb 28 (value $14,900) and 1,730 shares on Mar 2 (value $70,809). In addition, Lev was granted new equity awards: 6,853 shares (3/2/2026) and additional awards reported on 3/3/2026 (1,940 and 3,921 units); these are restricted stock units (RSUs) and performance stock units (PSUs) with multi-year vesting and performance conditions.
Key Details
- Dates & reported prices:
- 2026-02-28: 5,289 equivalent units vested and were cash-settled at $39.84 → $210,714.
- 2026-02-28: 374 shares surrendered to issuer at $39.84 → $14,900 (tax withholding).
- 2026-03-02: Grant of 6,853 RSUs (no cash cost reported) and 1,730 shares surrendered at $40.93 → $70,809 (tax withholding).
- 2026-03-03: Grants totaling 1,940 and 3,921 units (no cash cost reported); some reported as derivative-equivalent units.
- Shares owned after the transactions: not specified in the provided filing excerpt.
- Notable footnotes:
- F1/F5/F6/F7: Some reported units are "equivalent stock units" that settle in cash and represent the economic equivalent of a share; certain derivative-equivalent units vest in 2027.
- F2/F3: Specific surrendered shares were used to satisfy tax withholding on RSU and PSU vesting.
- F4/F8: New awards include RSUs with multi-year vesting schedules and PSUs that will settle for between 0 and 1.25 shares per unit (payout, if any, expected in Q1 2029, subject to performance certification).
- Filing timeliness: The Form 4 was filed on 2026-03-03 for transactions occurring 2026-02-28 – the filing is marked late (transactionTimeliness = 'L').
Context
This set of entries is largely routine compensation activity: vested equivalent units were cash-settled and portions of awards were surrendered to the issuer to cover tax withholding. New RSU and PSU awards were granted with multi-year vesting and, for PSUs, performance-based payoffs. For retail investors, purchases or open-market sales can be stronger signals; tax withholding and settlement of vested awards are common and do not by themselves indicate a change in insider sentiment.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-02-28+5,289→ 12,987 total - Tax Payment
Common Stock
[F1]2026-02-28$39.84/sh−5,289$210,714→ 7,698 total - Disposition to Issuer
Common Stock
[F2]2026-02-28$39.84/sh−374$14,900→ 7,324 total - Award
Common Stock
2026-03-02+6,853→ 14,177 total - Disposition to Issuer
Common Stock
[F3]2026-03-02$40.93/sh−1,730$70,809→ 12,447 total - Award
Common Stock
[F4]2026-03-03+1,940→ 14,387 total - Exercise/Conversion
Equivalent Stock Units
[F5][F1][F6]2026-02-28−5,289→ 4,759 total→ Common Stock (5,289 underlying) - Award
Equivalent Stock Units
[F5][F7]2026-03-03+1,940→ 6,699 total→ Common Stock (1,940 underlying) - Award
Performance Stock Units
[F8]2026-03-03+3,921→ 3,921 totalExp: 2028-12-31→ Common Stock (3,921 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 1,689 restricted stock units which vest in two equal annual installments beginning on February 28, 2027 and 1,940 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 3,070 equivalent stock units which vest on February 28, 2027 and 1,689 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 3,070 equivalent stock units which vest on February 28, 2027, 1,689 equivalent stock units which vest in two equal annual installments beginning on February 28, 2027 and 1,940 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.