Paysign (PAYS) CFO Jeffery Baker Exercises RSUs; 28.5K Shares Withheld

What Happened
Jeffery Bradford Baker, CFO of Paysign, converted/exercised 64,000 derivative/restricted shares into common stock on July 31, 2026 (code M). No cash was paid for the conversion (reported $0.00 per share). The issuer withheld 28,506 shares to satisfy tax withholding obligations (code F) at $8.96 per share, a withholding value of $255,414, leaving a net of 35,494 shares issued to Baker after withholding. This is a routine vesting/conversion event rather than an open-market purchase or sale.

Key Details

• Transaction date: July 31, 2026. Filing date: August 4, 2026 (filed within the required 2 business-day window).
• Conversions/exercises: 64,000 shares (M) at $0.00.
• Tax withholding: 28,506 shares withheld (F) at $8.96/share = $255,414.
• Net shares received by insider: 64,000 − 28,506 = 35,494 shares.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes:
  • F1: These are part of restricted stock that vests one-fifth annually from 7/31/2022 through full vesting on 7/31/2027.
  • F2: The 28,506 shares were withheld by the issuer to satisfy tax withholding on vesting (sell-to-cover).
• Transaction codes explained: M = exercise/conversion of derivative; F = tax withholding (share surrender).

Context
This appears to be a scheduled vesting/conversion of restricted stock units (RSUs) under the vesting schedule (one-fifth per year). The withholding of shares to cover taxes is common in RSU vestings (a sell-to-cover), and does not by itself indicate a trade-based view of the company.