Passilla Michael 4

What Happened

• Michael Passilla, a director of Priority Technology Holdings, had 4,296 restricted stock units (RSUs) vest and convert into common shares on April 1, 2026. The RSUs were granted Feb 5, 2026 and vest in quarterly 25% tranches.
• Of the shares converted, 1,168 shares were surrendered to the issuer to satisfy tax withholding obligations at $4.72 per share, producing cash withheld of $5,513. The RSU conversion itself carried no cash exercise price.

Key Details

• Transaction date: 2026-04-01 (filed Apr 3, 2026).
• Conversion: 4,296 RSUs vested and converted to common stock (derivative exercise/conversion; no exercise price).
• Tax withholding: 1,168 shares withheld at $4.72 each = $5,513 (disposition to issuer).
• Entity: Filing notes shares were acquired by Posillipo Ventures, Inc., an LLC of which Passilla is a managing member.
• Grant context: These RSUs were part of a 17,182-RSU grant (Feb 5, 2026) that vests 25% on Apr 1, 2026 and quarterly thereafter through Jan 1, 2027 (per filing footnote).
• Shares owned after the reported transactions are not specified in the Form 4.

Context

• This was a routine vesting and conversion of restricted stock units, not an open-market buy or sale driven by a cash exercise price. The withholding of shares to cover taxes is a common administrative step and does not necessarily indicate a change in insider sentiment.