Form 4: ACI Worldwide CTO Abraham Kuruvilla Reports Routine Stock Transactions for Tax Obligations
Insider Transaction Report
ACI Worldwide's Chief Technology Officer, Abraham Kuruvilla, reported the surrender of 2,116 shares of common stock to cover tax liabilities associated with the vesting of restricted stock units.
Summary
- Abraham Kuruvilla, Chief Technology Officer of ACI Worldwide, Inc. (ACIW), reported two transactions involving the disposition of common stock.
- On June 4, 2025, Mr. Kuruvilla surrendered 1,277 shares of common stock at a price of $46.62 per share.
- This surrender was to pay the tax liability due upon the vesting of 3,261 restricted stock units that were granted on March 4, 2024.
- Also on June 4, 2025, an additional 839 shares of common stock were surrendered at $46.62 per share.
- This second surrender covered the tax liability from the vesting of 2,134 restricted stock units granted on March 4, 2025.
- Following these transactions, Mr. Kuruvilla's direct beneficial ownership of ACI Worldwide common stock stands at 103,229 shares.
Sentiment
Score: 5
Explanation: The document reports a routine, non-discretionary transaction by an executive to cover tax obligations related to vested equity awards. This type of transaction is neutral in sentiment as it is a standard part of executive compensation and does not indicate a positive or negative outlook on the company's performance or stock.
Future Outlook
The document does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.
Industry Context
This Form 4 filing is a routine disclosure of an insider stock transaction, specifically the surrender of shares to cover tax obligations upon the vesting of restricted stock units. It does not provide broader industry context or trends.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Abraham Kuruvilla granted a Power of Attorney to Dennis Byrnes and Dru Moses to execute and file Forms 3, 4, and 5 on his behalf in accordance with Section 16(a) of the Securities Exchange Act of 1934. | 2025-06-04 | This is a standard administrative measure to facilitate timely and accurate SEC filings for insider transactions, ensuring compliance with regulatory requirements. It does not indicate a change in corporate governance structure or policy, but rather a procedural delegation. |
Stakeholder Impact
- Shareholders: The transaction is a routine tax-related disposition by an executive and is unlikely to have a significant direct impact on shareholders. It reflects the ongoing compensation structure for executives.
Key Dates
| Date | Description |
|---|---|
| 2024-03-04 | Date of grant for 3,261 restricted stock units, one-twelfth of which vested on June 4, 2025. |
| 2025-03-04 | Date of grant for 2,134 restricted stock units, one-twelfth of which vested on June 4, 2025. |
| 2025-06-04 | Date of stock transactions (disposition of shares for tax liability) and effective date of Power of Attorney. |
| 2025-06-06 | Date the Form 4 was signed by Abraham Kuruvilla. |
Keywords
ACI Worldwide, ACIW, Abraham Kuruvilla, Chief Technology Officer, CTO, Form 4, SEC filing, stock transaction, restricted stock units, RSU vesting, tax liability, insider trading, beneficial ownership
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