LEV ORI 4

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.