Oleson Lisa 4

What Happened
Lisa Oleson, a director of CPI Card Group Inc. (PMTS), received a grant of 2,164 restricted stock units (RSUs) and had 1,072 RSUs from a prior award vest and convert to common shares on March 31, 2026. The grant is reported at $0 (typical for RSUs). The filing also shows 1,072 shares associated with the conversion were reported as disposed at $0 (reported disposition), which is commonly how tax withholding or share surrender to cover taxes is reported rather than an open-market sale. No cash proceeds are reported.

Key Details

• Transaction date: March 31, 2026 (Form 4 filed April 2, 2026) — filing appears timely.
• Reported items:
  • Grant (A): 2,164 RSUs @ $0.00 (new award).
  • Exercise/conversion (M): 1,072 RSUs converted to shares (reported as acquired/converted).
  • Exercise/conversion (M) / Disposal (F-like): 1,072 shares reported disposed at $0.00 (likely withholding/surrender).
• Shares owned after transaction: Not specified in this filing.
• Footnotes:
  • F1: Each RSU equals one common share upon vesting.
  • F2: The 2,164 RSUs vest on the first anniversary of the March 31, 2026 award, subject to continued service.
  • F3: The 1,072 RSUs converted were awarded on March 31, 2025 and vested on their 12‑month anniversary.

Context
RSU grants are a form of compensation (an award) rather than an open‑market purchase or sale; they generally signal standard equity compensation for service rather than a trading view on the stock. When vested RSUs convert to shares, it is common for some shares to be withheld or surrendered to cover tax withholding — filings often show those withheld shares as disposals at $0 rather than market sales. This filing shows no open‑market sale or cash purchase.