CPI Card Group (PMTS) CTO granted RSUs, phantom stock and new shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
CPI Card Group Inc. Chief Technology Officer Ernesto Boada reported compensation-related equity activity. He received a grant of 3,635 restricted stock units, each representing one common share, scheduled to vest in three substantially equal installments on March 31, 2027, 2028, and 2029, subject to continued service.
Boada was also granted 13,350 shares of phantom stock, economically equivalent to common stock and scheduled to vest shortly after December 31, 2028, settling in cash based on average closing price and performance metrics. In addition, 577 RSUs granted earlier vested and were converted into 577 common shares, with 166 of those shares withheld at $14.51 per share to cover mandatory tax obligations, leaving him with 4,161 common shares held directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
577 shares exercised/converted
Mixed
5 txns
Insider
Boada Ernesto
Role
Chief Technology Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 3,635 | $0.00 | -- |
| Grant/Award | Phantom Stock | 13,350 | $0.00 | -- |
| Exercise | Restricted Stock Units | 577 | $0.00 | -- |
| Exercise | Common Stock | 577 | $0.00 | -- |
| Tax Withholding | Common Stock | 166 | $14.51 | $2K |
Holdings After Transaction:
Restricted Stock Units — 3,635 shares (Direct);
Phantom Stock — 13,350 shares (Direct);
Common Stock — 4,327 shares (Direct)
Footnotes (1)
- Each restricted stock unit ("RSU") represents the right to receive one common share of the Issuer upon vesting of such RSU. Shares withheld by Issuer to satisfy the mandatory tax withholding requirement upon vesting of RSUs. Not an open market sale of securities. Represents a restricted stock unit award which vests in three substantially equal installments on March 31, 2027, 2028, and 2029, subject to the reporting person's continued service through such date or as otherwise provided for in the applicable award agreement. Each share of phantom stock is the economic equivalent of one share of the Issuer's common stock. The award is scheduled to vest shortly following the Expiration Date and settle in cash based on a combination of the average closing price of the Issuer's common stock during the last month of the performance period and the achievement of certain performance metrics during the performance period, subject to the reporting person's continuous service through the vesting date or as otherwise provided for in the applicable award agreement. This line reports RSUs that were awarded on the March 31, 2025 award date, which vested on the first anniversary of the award date. The remaining RSUs granted on the award date will vest in substantially equal installments on the second and third anniversaries of the award date, subject to the reporting person's continued service through such date or as otherwise provided for in the applicable award agreement.
Key Figures
RSU grant size: 3,635 units
RSU vesting schedule: 3 installments
Phantom stock grant: 13,350 units
+3 more
6 metrics
RSU grant size
3,635 units
Restricted stock unit award granted March 31, 2026
RSU vesting schedule
3 installments
Vesting on March 31, 2027, 2028, and 2029
Phantom stock grant
13,350 units
Economically equivalent to common stock; vests after Dec 31, 2028
RSUs converted to shares
577 shares
Previously granted RSUs vested into common stock
Shares withheld for taxes
166 shares at $14.51
Mandatory tax withholding on RSU vesting
Common shares held after transactions
4,161 shares
Directly owned by Ernesto Boada after March 31, 2026
Key Terms
Restricted Stock Units, phantom stock, mandatory tax withholding, performance period, +1 more
5 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") represents the right to receive one common share"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
phantom stock financial
"Each share of phantom stock is the economic equivalent of one share of the Issuer's common stock"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
mandatory tax withholding financial
"Shares withheld by Issuer to satisfy the mandatory tax withholding requirement upon vesting of RSUs"
performance period financial
"during the last month of the performance period and the achievement of certain performance metrics"
The performance period is the specific time span over which an investment’s results, an employee’s targets, or a fund’s returns are measured and judged. It matters to investors because the length and start/end of that window determine which gains or losses count toward performance fees, bonus payouts, or benchmark comparisons—much like timing a race decides who wins, the chosen period can change whether results look strong or weak.
derivative security financial
"Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
