Inson Paul Joseph 4

What Happened

• Inson Paul Joseph, Chief People Officer of IBEX Ltd (IBEX), received 25,180 restricted shares as a vesting performance award on February 6, 2026 (recorded as an award at $0.00). On the same date, 2,627 shares were disposed (sold) at $34.98 each, generating proceeds of $91,892. The disposal represents shares withheld/sold in connection with taxes on the vesting.

Key Details

• Transaction date: February 6, 2026; Form 4 filed February 11, 2026.
• Award (A): 25,180 restricted shares granted/issued at $0.00.
• Sale/Disposition (S): 2,627 shares sold at $34.98 per share = $91,892.
• Shares owned after transaction: not specified in the filing.
• Footnotes:
  • F1: These shares come from a performance share award granted April 20, 2022, that vested one-third on Feb 6, 2026 after achieving certain revenue and EBITDA targets; remaining one-third tranches vest Feb 6, 2027 and Feb 6, 2028, subject to continued service.
  • F2: The 2,627-share disposition represents shares withheld/sold to cover taxes upon vesting.
• Timeliness: The Form 4 was filed five days after the transaction (filed Feb 11 for a Feb 6 transaction). Form 4s are typically due within two business days, so this appears to be a late filing.

Context

• This filing reflects a routine vesting of a performance-based restricted stock award (not a cash purchase). The simultaneous sale/withholding appears to be tax-related rather than an opportunistic open-market sale. Vesting was tied to company revenue and EBITDA targets achieved for the trailing four quarters; the award’s remaining tranches vest in 2027 and 2028 if the officer remains employed. Late filing reduces near-term transparency but does not by itself indicate wrongdoing.