Afdahl David Martin 4

What Happened
David Martin Afdahl, Chief Operating Officer of IBEX Ltd (IBEX), received 109,708 restricted shares as the vesting portion of a 2022 performance share award. One‑third of the award vested on February 6, 2026 (award code A; acquired at $0.00 per share). To cover tax withholding on the vested shares, 13,917 shares were withheld/disposed at $34.98 per share, a withholding value of approximately $486,817 (code F).

Key Details

• Transaction dates: Vesting and withholding occurred on 2026-02-06; Form 4 filed 2026-02-12 (appears late—Form 4s are generally due within 2 business days).
• Award: 109,708 restricted shares granted/issued in connection with the April 20, 2022 performance share award; one‑third vested 2/6/2026.
• Tax withholding: 13,917 shares withheld to satisfy tax obligations at $34.98/share = $486,817.
• Vesting schedule: Remaining two-thirds scheduled to vest one‑third on 2/6/2027 and one‑third on 2/6/2028, subject to continued service (Footnote F1).
• Shares owned after the transaction: Not specified in the provided filing.
• Footnotes: F1 explains vesting tied to revenue and EBITDA targets and continued service; F2 confirms shares were withheld for tax purposes.
• Transaction codes: A = Award/Grant; F = Shares withheld for tax (disposition).

Context

• This was a routine compensation vesting event (performance‑based restricted stock), not an open‑market purchase or discretionary sale. The withholding of shares for taxes is standard and does not necessarily indicate a trading view.
• The filing date is several days after the transaction date; investors may note the apparent late filing.