Dixon Robert Michael 4

What Happened

• Robert Michael Dixon, Chief Digital Officer of CPI Card Group (PMTS), had 636 restricted stock units (RSUs) convert to common shares on June 9, 2026. Of those, 192 shares were withheld by the company to satisfy mandatory tax withholding at $18.48 per share (total ~$3,548). The remaining 444 shares were delivered to Dixon. The RSU conversion shows no exercise price (typical for vested RSUs).

Key Details

• Transaction date: June 9, 2026; Form 4 filed June 11, 2026 (timely).
• Conversion/exercise code: M (exercise or conversion of derivative — here, RSU vesting into shares).
• Tax withholding code: F — 192 shares withheld at $18.48/share for ~$3,548 (not an open-market sale).
• Shares delivered to insider after withholding: 444 shares (636 vested − 192 withheld).
• Shares owned after transaction: Not disclosed in the filing.
• Relevant footnotes:
  • F1: Each RSU equals one common share upon vesting.
  • F2: Withheld shares were used to satisfy mandatory tax withholding (not a market sale).
  • F3: These RSUs were awarded on June 9, 2023 and vested in substantially equal installments on the first, second and third anniversaries.

Context

• This was a routine vesting of RSUs rather than an open-market buy or sell. The withholding of shares to cover taxes is common and does not by itself indicate a bullish or bearish signal. The filing shows conversion of RSUs (derivative-to-share conversion) with no outlay by the insider, and the withheld shares reflect tax obligations rather than a discretionary sale.