Boada Ernesto 4

4 · CPI Card Group Inc. · Filed Jun 2, 2026

AI-generated summary of this filing

Updated Jun 2, 2026

CPI Card (PMTS) CTO Ernesto Boada Receives RSU Award, Settles Vested Units

What Happened

Ernesto Boada, Chief Technology Officer of CPI Card Group (PMTS), was granted 3,205 restricted stock units (RSUs on 2026-05-29) and reported conversion/settlement activity related to previously awarded RSUs that vested on 2026-05-30.
On 2026-05-30 he converted/exercised 748 derivative units (reported as acquired and then disposed the same day) and had 216 shares withheld to satisfy tax withholding at $16.97 per share (216 x $16.97 = $3,666). The 3,205-RSU grant shows $0 acquisition price (standard for RSU awards).

Key Details

Transaction dates: Grant recorded 2026-05-29 (3,205 RSUs); vesting/conversion activity on 2026-05-30. Filing date: 2026-06-02. No late filing flag indicated.
Prices/values: Tax withholding: 216 shares × $16.97 = $3,666. Other RSU entries reported at $0 (typical for awards); some conversion/disposition lines show $0 or N/A.
Shares owned after transaction: Not specified in the provided Form 4 lines.
Notable footnotes:
- F1: Each RSU equals the right to one common share on vesting.
- F2: Shares withheld to satisfy mandatory tax withholding—this is not an open-market sale.
- F3: The 3,205-RSU grant (5/29/2026) vests in three substantially equal installments in 2027–2029, subject to continued service.
- F4: The vested units settled on 5/30/2026 were from a May 30, 2025 award that vested on its first anniversary.

Context

The filings reflect routine compensation activity (RSU grant and vesting/settlement), not a discretionary open-market purchase or sale. The conversion/exercise with same-day disposition suggests a net settlement/cashless-style settlement of vested units; the tax-withheld shares were retained by the company to cover withholding obligations rather than sold on the open market.

Form 4

Period: 2026-05-29

Chief Technology Officer

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-05-30+748→ 4,909 total
Tax Payment
Common Stock
[F2]
2026-05-30$16.97/sh−216$3,666→ 4,693 total
Award
Restricted Stock Units
[F1][F3]
2026-05-29+3,205→ 3,205 total
→ Common Stock (3,205 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F4]
2026-05-30−748→ 1,492 total
→ Common Stock (748 underlying)

Footnotes (4)

[F1]Each restricted stock unit ("RSU") represents the right to receive one common share of the Issuer upon vesting of such RSU.
[F2]Shares withheld by Issuer to satisfy the mandatory tax withholding requirement upon vesting of RSUs. Not an open market sale of securities.
[F3]Represents a restricted stock unit award which vests in three substantially equal installments on May 29, 2027, 2028, and 2029, subject to the reporting person's continued service through such date or as otherwise provided for in the applicable award agreement.
[F4]This line reports RSUs that were awarded on the May 30, 2025 award date, which vested on the first anniversary of the award date. The remaining RSUs granted on the award date will vest in substantially equal installments on the second and third anniversaries of the award date, subject to the reporting person's continued service through such date or as otherwise provided for in the applicable award agreement.

Signature

/s/ Darren Dragovich, attorney-in-fact|2026-06-02

2 files