Normile Michael James 4

What Happened

• Normile Michael James (CFO of Cass Information Systems, ticker CASS) received a grant of 2,836 restricted common shares on January 22, 2026. The Form 4 reports the shares were acquired at $0.00 (award), total cash paid $0.
• This is a compensation award (not a market purchase or sale); awards are common as part of executive pay and do not by themselves indicate a buy or sell market signal.

Key Details

• Transaction date: 2026-01-22; Form 4 filed: 2026-01-26 (filed four days after the transaction date; this may exceed the typical two-business-day filing deadline).
• Security: Common stock; Amount: 2,836 shares; Price reported: $0.00 (award).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Footnotes: F1 — Restricted stock bonus award; restrictions cliff expire on the third anniversary of the award. F2 — These shares are restricted and subject to vesting and forfeiture.
• No indication of a 10b5-1 plan, cashless exercise, gift, or tax-withholding reported in the provided details.

Context

• Restricted stock with a cliff vesting schedule means the shares typically do not vest (become freely transferable) until the cliff date (third anniversary), so the award is long-term compensation rather than an immediate liquidity event.
• Such awards are common in executive compensation and should be viewed as company pay rather than a straightforward market purchase signal.