Sestanovich Elizabeth 4

What Happened

• Elizabeth Sestanovich, Chief People Officer of System1, had 211 shares disposed (withheld) to satisfy tax withholding related to the vesting of restricted stock units (RSUs). The reported disposal price was $4.18 per share, for a total of approximately $882.
• The withholding covered the tax obligation on 375 RSUs that vested; 211 shares were withheld rather than sold on the open market.

Key Details

• Transaction date: 2026-01-28; Filing date: 2026-01-29 (file appears timely).
• Price per share: $4.18; Shares withheld/disposed: 211; Total value: ~$882.
• Shares/units after transaction: filing notes inclusion of 42,680 unvested RSUs (per footnote).
• Footnotes: F1 — 211 shares withheld to cover tax withholding on 375 vested RSUs; F2 — includes 42,680 unvested RSUs.
• Transaction code F denotes tax withholding (not an open-market sale or purchase).

Context

• This was a routine, non-discretionary tax-withholding action (cashless withholding) upon RSU vesting, common for equity-compensated employees. Such withholdings generally do not indicate a change in the insider’s market view.