CPI Card (PMTS) CTO Ernesto Boada Receives RSUs, Has Shares Withheld

What Happened

Ernesto Boada, Chief Technology Officer of CPI Card Group (PMTS), had 1,046 restricted stock units (RSUs) vest on August 29, 2026, which converted into common shares. To satisfy mandatory tax withholding, the issuer withheld 301 of those shares (valued at $28.83 each, totaling about $8,678). On August 31, 2026, Boada was granted 1,907 new RSUs (no cash value at grant) that vest in future installments.

Net result from the vesting: Boada received approximately 745 shares after the tax-withholding (1,046 vested - 301 withheld = 745 net). The withholding is not an open-market sale but a company action to cover taxes.

Key Details

• Transaction dates: Aug 29, 2026 (vesting/conversion and tax withholding); Aug 31, 2026 (new RSU grant).
• Vesting/conversion: 1,046 RSUs converted to shares on Aug 29, 2026 (reported as derivative conversion).
• Tax withholding: 301 shares withheld at $28.83/share = ~$8,678 to cover taxes (not an open market sale).
• New award: 1,907 RSUs granted on Aug 31, 2026 (reported as derivative/RSU award, $0.00 reported price).
• Vesting schedule notes: The 1,046 RSUs were from an Aug 29, 2025 award that vested on its first anniversary; the 1,907 RSUs vest in three substantially equal installments on Aug 31, 2027–2029, subject to continued service (per footnotes).
• Shares owned after the transactions: not specified in the provided filing.
• Filing timeliness: the Form 4 was filed Sept 1, 2026 reporting activity through Aug 29, 2026; no late-filing flag is indicated in the supplied data.

Context

• These transactions reflect RSU vesting and a standard company tax-withholding procedure, not an open-market sale. Such withholding is common and does not necessarily signal insider sentiment.
• The conversion lines are RSU vesting (not a cash exercise of options). The new 1,907 RSU grant vests over future anniversaries, subject to service conditions.