CPI Card (PMTS) 10% Owner Parallel49 Equity Sells Shares

What Happened

• Parallel49 Equity, ULC (reported as a 10% owner) sold 2,687,921 shares of CPI Card Group Inc. (PMTS) on September 14, 2026. The Form 4 shows a reported disposition price of $20.43 per share for aggregate proceeds of $54,900,786.
• Footnotes clarify the shares were sold to underwriters under an Underwriting Agreement at $20.425 per share; the underwriters then sold the shares to the public at $21.50. The shares sold consisted of 1,690,238 shares from Tricor Pacific Capital Partners (Fund IV), LP and 997,683 shares from Tricor Pacific Capital Partners (Fund IV) US, LP.

Key Details

• Transaction date: 2026-09-14; reported price on Form 4: $20.43; underwriting purchase price: $20.425; public offering price: $21.50.
• Shares sold: 2,687,921; reported proceeds ≈ $54.9 million.
• Shares owned after transaction: Following these sales, both Tricor Funds (Tricor Pacific Capital Partners (Fund IV), LP and Tricor Pacific Capital Partners (Fund IV) US, LP) hold 0 shares of CPI Card common stock.
• Notable footnotes: sale executed pursuant to an Underwriting Agreement; Tricor Funds were the selling entities and are managed by Parallel49 Equity, ULC. The investment committee members named in the filing disclaim beneficial ownership of the Tricor Funds’ shares.
• Filing timeliness: Report filed on 2026-09-14 (same date as the transaction), indicating a timely filing.

Context

• This was an institutional sale via an underwriting (secondary offering structure), not an individual open-market sale. For retail investors, institutional secondary sales are routine liquidity events and do not by themselves indicate management sentiment about the company’s prospects.
• The reporting person is an entity that managed the selling funds; the filing notes the Tricor Funds were fully liquidated of these holdings.