Stiefel Justin B 4
4 · IP STRATEGY HOLDINGS, INC. · Filed May 5, 2026
Research Summary
AI-generated summary of this filing
IP Strategy (IPST) CEO Justin Stiefel Exercises RSUs, Covers Taxes
What Happened Justin B. Stiefel, CEO, Treasurer and a director of IP Strategy Holdings, converted/received 1,666 shares from vested restricted stock units (RSUs) on May 2, 2026. To satisfy tax-withholding obligations associated with the vesting, he relinquished 495 of those shares (433 + 62) at an applied price of $5.50 per share, totaling $2,723. According to the filing, the surrendered shares were cancelled and returned to the issuer's treasury — they were not sold on the open market.
Key Details
- Transaction date: May 2, 2026; Form 4 filed May 5, 2026 (no late filing notice in the filing).
- Converted/issued: 1,458 + 208 = 1,666 shares from RSU vesting (derivative conversion).
- Tax-withholding: 433 shares @ $5.50 ($2,382) and 62 shares @ $5.50 ($341) = 495 shares, $2,723 total; shares were surrendered/cancelled to cover withholding (not an open-market sale).
- Important footnotes: F1 — all share amounts reflect a 1-for-20 reverse split on April 23, 2026; F2/F8 — these were RSUs (contingent rights to receive shares) with a scheduled vesting cadence beginning Sept 1, 2025 and installments on May 2, 2026 (and later dates); F4 — shares were relinquished and cancelled for tax remittance.
- Ownership after the transaction: not specified in the provided filing details.
Context This is a routine RSU vesting plus tax-withholding transaction: the insider converted restricted units into shares and used some of those shares to pay withholding taxes (a common practice). Because the surrendered shares were cancelled rather than sold on the open market, this does not represent a shareholder sale signal to the market.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2][F3]2026-05-02+1,458→ 4,316 total - Tax Payment
Common Stock
[F4][F5][F3]2026-05-02$5.50/sh−433$2,382→ 3,883 total - Exercise/Conversion
Common Stock
[F2][F6]2026-05-02+208→ 1,319 total(indirect: By Spouse) - Tax Payment
Common Stock
[F4][F5][F6]2026-05-02$5.50/sh−62$341→ 1,257 total(indirect: By Spouse) - Exercise/Conversion
Restricted Stock Units
[F2][F1][F8]2026-05-02−1,458→ 4,375 total→ Common Stock (1,458 underlying) - Exercise/Conversion
Restricted Stock Units
[F2][F8][F6]2026-05-02−208→ 625 total(indirect: By Spouse)→ Common Stock (208 underlying)
- 8,274(indirect: By LLC)
Common Stock
[F7]
Footnotes (8)
- [F1]All share amounts in this Form 4 reflect a 1-for-20 reverse stock split effected on April 23, 2026.
- [F2]Each restricted stock unit ("RSU") represents a contingent right to receive one share of the issuer's common stock.
- [F3]Includes 4 shares beneficially owned through American Estate and Trust, LC FBO Justin Stiefel IRA account
- [F4]The reporting person relinquished the shares of Common Stock reported herein and the issuer cancelled such shares and returned them to issuer's treasury in exchange for remitting certain tax withholding obligations of the reporting person resulting from the vesting of the RSUs. As such, no shares of the issuer were sold by the reporting person.
- [F5]Represents the per share closing price of the issuer's Common Stock on the applicable vesting date or, if there was no closing price on such date, the closing price on the trading date that was immediately prior to such vesting date.
- [F6]These securities are held by Jennifer D.H. Stiefel, the spouse of the reporting person. For purposes of Section 16 of the Exchange Act, the reporting person disclaims beneficial ownership of any such securities, except to the extent of her pecuniary interest therein, if any, and this report shall not be deemed an admission that such reporting person is the beneficial owner of such securities for purposes of Section 16 or otherwise.
- [F7]The reported securities are held by Constantine IHSV, LLC, of which the reporting person is the sole member and may be deemed to beneficially own the securities held by it.
- [F8]The RSUs vest over an eighteen (18) month period beginning September 1, 2025, with six (6) months of service-based vesting deemed satisfied as of February 2, 2026, and the remaining units vesting in equal installments May 2, 2026, August 2, 2026, November 2, 2026, and February 2, 2027, subject to continued service.