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IP STRATEGY HOLDINGS, INC.·4

May 5, 7:23 PM ET

Stiefel Jennifer D H 4

Research Summary

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IP Strategy (IPST) President Jennifer Stiefel Exercises RSUs, Surrenders Shares

What Happened
Jennifer D. H. Stiefel, President, Secretary and a director of IP Strategy Holdings, converted (exercised/vested) a total of 1,666 restricted stock units (RSUs) into common shares on May 2, 2026 (208 + 1,458). To satisfy tax withholding obligations related to the RSU vesting, she relinquished (surrendered) 495 shares (62 + 433) at an effective per-share price of $5.50, yielding withholding of $341 and $2,382 respectively (total $2,723). Per the filing, the surrendered shares were cancelled and returned to the issuer’s treasury—no open-market sale by the reporting person.

Key Details

  • Transaction date: May 2, 2026; Form 4 filed May 5, 2026.
  • Converted/vested shares: 1,666 RSUs -> 1,666 shares (208 + 1,458).
  • Shares surrendered for tax withholding: 495 shares (62 + 433) at $5.50/share; total withheld $2,723.
  • Derivative reporting: entries coded M (exercise/conversion) and F (payment of exercise price/tax withholding). Some derivative entries show $0 proceeds reflecting the surrender/cancellation.
  • Reverse split: all share amounts reflect a 1-for-20 reverse stock split effective April 23, 2026 (footnote F1).
  • RSU terms: each RSU equals one share; vesting schedule spans 18 months beginning Sept 1, 2025 (footnotes F2, F6). The May 2 vesting was part of that schedule.
  • Spousal holdings: certain securities are held by spouse Justin B. Stiefel; reporting person disclaims beneficial ownership except to extent of any pecuniary interest (footnote F5).
  • Shares owned after transaction: not specified in the provided filing summary.
  • Filing timeliness: Form filed May 5 for May 2 transaction; the filing does not state a late filing exception in the disclosed footnotes.

Context
This was a routine RSU vesting and tax-withholding transaction, not an open-market sale or purchase. The reporting person did not sell shares to a third party; instead shares were surrendered/cancelled to cover withholding taxes (a common cashless/“share surrender” method). For retail investors, such vesting entries show insiders receiving compensation-linked stock rather than signaling active buying or selling intent.