Priority Technology: director Michael Passilla exercised 4,296 shares

What happened

• Michael Passilla, a director, converted or exercised 4,296 restricted stock units into common stock on Oct 1, 2026. The filing shows 1,159 shares were disposed to the issuer at $7.80 per share for $9,040 to satisfy tax obligations. The filing also notes transactions listing 4,296 shares with $0.00 consideration in connection with the derivative conversion.

Key details

• Transaction date(s) and price(s):
  • Oct 1, 2026 — exercise/conversion of derivative (M): 4,296 shares (acquired, price reported as N/A).
  • Oct 1, 2026 — disposition to issuer (D): 1,159 shares at $7.80, total $9,040 (shares withheld for taxes).
  • Oct 1, 2026 — exercise/conversion of derivative (M): 4,296 shares with $0.00 consideration (reported as derivative disposal).
• Shares owned after the transaction: not reported in the filing.
• Relevant footnotes:
  • F1: each restricted stock unit represents a contingent right to one share of common stock.
  • F2: shares withheld to satisfy tax obligations.
  • F3: some shares were acquired by Posillipo Ventures, Inc., a limited liability company of which the reporting person is a managing member.
  • F4: the reporting person was granted 17,182 restricted stock units on Feb 5, 2026, vesting 25% on Apr 1, 2026, 25% on Jul 1, 2026, 25% on Oct 1, 2026, and 25% on Jan 1, 2027, subject to continued service.
• Filing date and timeliness: Form filed Oct 5, 2026 for transactions dated Oct 1, 2026; the filing does not indicate whether it was late.

Why it may matter

• The filing shows restricted stock units vested/converted and that a portion of the shares were withheld to satisfy tax obligations rather than sold on the open market.
• The filing notes some shares were acquired by a company controlled by the reporting person (Posillipo Ventures, Inc.).
• A filing does not show why the insider traded or why the company acted.