VOLLMER SONYA 4

What Happened

• Sonya Vollmer, Chief Human Resources Officer of CPI Card Group (PMTS), was granted equity awards and reported conversions/exercises on March 31, 2026. The filing shows awards of 2,077 restricted stock units (RSUs) and 7,628 phantom stock units (both reported at $0.00 as derivative awards). The report also records exercise/conversion activity for 355 units (transaction code M). Separately, 87 shares were withheld to satisfy tax withholding at $14.51 per share, totaling $1,262 (transaction code F).
• These were grant/award and derivative conversion transactions (not open-market purchases or sales). The RSUs represent the right to receive one common share upon vesting; the phantom stock is an economic equivalent that will settle in cash based on price/performance metrics per the award terms.

Key Details

• Transaction date: March 31, 2026; Form filed April 2, 2026 (appears timely).
• Awards: 2,077 RSUs (F1/F3/F5) and 7,628 phantom stock units (F4) granted at $0.00.
• Exercise/conversion: 355 units reported as exercised/converted (code M).
• Tax withholding: 87 shares withheld at $14.51 to cover taxes = $1,262 (code F). This is a withholding by the issuer, not an open-market sale (F2).
• Shares owned after transaction: Not disclosed in the provided filing details.
• Notable footnotes: RSUs vest in installments (some portions vest 2027–2029; some granted on 3/31/2025 vested on first anniversary with remaining installments per F5). Phantom stock vests/settles based on performance and service conditions (F4).

Context

• RSUs are future share awards that convert to common stock on vesting; withholding of shares to cover taxes is routine and does not imply an open-market sale. Phantom stock awards are typically cash-settled based on stock performance and may vest/settle later subject to service and performance conditions.
• The filing shows award receipt and derivative conversions rather than an investment buy or an open-market sale — useful for tracking executive compensation but not necessarily a directional buying/selling signal.