BitGo (BTGO) CCO Jeff Horowitz Settles Phantom Stock Units

What Happened
Jeff Horowitz, Chief Compliance Officer of BitGo Holdings, Inc. (BTGO), reported the vesting and cash settlement of phantom stock units. Two derivative transactions (code M) show 261 and 782 phantom units vested on July 22, 2026 and were settled for cash on July 24, 2026. No per-share price or total dollar amount was disclosed in the filing.

Key Details

• Transaction dates: Units vested July 22, 2026; settlement (cash) occurred July 24, 2026. Filing date: July 28, 2026 (six days after the transaction date).
• Transaction type: Reported as exercise/conversion of derivative (Form 4 code M) and shown as dispositions (cash settlement).
• Units involved: 261 units + 782 units = 1,043 units vested and settled.
• Shares/units owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: Each phantom stock unit equals the economic equivalent of one Class A share. Remaining unvested units: 5,217 units vest monthly through Mar 1, 2028 (related to the 261-unit award) and 23,445 units vest monthly through Dec 18, 2028 (related to the 782-unit award). The awards do not expire and vesting is conditioned on continued service.
• Timeliness: The Form 4 was filed July 28, 2026 — later than the typical 2-business-day deadline for reporting Form 4 transactions.

Context
These were settlements of phantom (cash-settled) equity units, not open-market buy or sell trades of actual shares. Cash settlements are commonly used for compensation and tax withholding and do not necessarily indicate a personal buy/sell sentiment in the market. Purchases are generally more informative about insider confidence; this filing documents routine vesting and payout of compensation-related derivatives.