Alvarado Michael 4

What Happened

• Michael Alvarado (Chief Operating Officer, Chief Legal Officer & Vice President) received a total of 626,260 Class A common shares through the vesting/settlement and conversion of restricted share units and awards on March 8–9, 2026. The filing shows multiple vesting/conversion events and one new award/settlement.
• The company withheld 318,645 shares to satisfy tax withholding obligations (payment entries), which the filing values at a combined $1,673,590. Separately, 67,767 restricted share units were recorded as forfeited on March 9, 2026 per the filing.

Key Details

• Transaction dates: March 8–9, 2026; Form 4 filed March 10, 2026 (appears timely).
• Gross shares received (vesting/conversion/award): 626,260 (66,225 + 89,686 + 290,977 + 179,372).
• Shares withheld for taxes (dispositions labeled F): 318,645 shares, cash value shown as $1,673,590 (breakdowns in filing: 33,696 @ $5.44 = $183,306; 45,633 @ $5.23 = $238,661; 91,266 @ $5.23 = $477,321; 148,050 @ $5.23 = $774,302).
• Forfeiture: 67,767 restricted share units were forfeited on March 9, 2026 (per footnote).
• Footnotes: RSUs settle 1-for-1 into Class A common shares; some awards vested based on milestone/performance metrics and scheduled vesting (see filing footnotes F1–F9). The withheld shares were used to satisfy tax obligations — not an open-market sale by the insider.
• Shares owned after the transactions are not specified in the provided excerpt.

Context

• This was primarily a vesting/settlement event of restricted share units (and conversions/exercises of derivatives), not an open-market sale or purchase; the company withheld a portion of the issued shares for taxes (a routine cashless-withholding mechanism).
• Such compensation-driven vesting events are common and reflect scheduled/performance vesting rather than a directional buy/sell signal by the insider.