Dixon Robert Michael 4

What Happened

• Dixon Robert Michael, Chief Digital Officer of CPI Card Group Inc. (PMTS), received equity awards on March 31, 2026 and had a small tax-withholding related disposition. The filing shows grants of 2,596 restricted stock units (RSUs) and 9,535 phantom stock units (total 12,131 units). The report also records the exercise/conversion of 288 derivative units, and 87 shares were withheld to satisfy mandatory tax withholding at $14.51 per share (total ~$1,262). The withheld shares were not an open-market sale.

Key Details

• Transaction date: March 31, 2026; Form 4 filed April 2, 2026 (appears timely).
• Grants: 2,596 RSUs @ $0.00 (award) and 9,535 phantom stock units @ $0.00 (award).
• Vesting/exercise: 288 derivative units were exercised/converted on 3/31/2026 (reported as code M).
• Tax withholding: 87 shares withheld (code F) at $14.51 each to cover taxes; reported value ~$1,262 — this is issuer withholding, not an open-market sale (per footnote).
• Shares owned after the transactions: not specified in the provided filing excerpts.
• Relevant footnotes: RSUs convert to one common share on vesting; phantom stock settles in cash based on performance and price; some RSUs vest in installments over 2027–2029 (see filing footnotes).

Context

• RSUs are awards that convert to ordinary shares upon vesting; withholding of shares to cover taxes is routine and does not indicate a market sale.
• Phantom stock is typically cash-settled and tied to performance metrics; it represents economic exposure rather than immediate share ownership.
• The filing shows award activity and routine tax withholding rather than a discretionary open-market sale or purchase.