Stiefel Justin B 4

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.