Form 4: EVERTEC CFO's Stock Activity: RSU Vesting & Tax Withholding

EVERTEC's EVP & CFO, Joaquin A. Castrillo-Salgado, reported the vesting of performance-based restricted stock units and subsequent tax-related share dispositions.

Summary

• Joaquin A. Castrillo-Salgado, EVP & CFO of EVERTEC, Inc. (EVTC), reported transactions involving the company's common stock.
• On March 3, 2026, Mr. Castrillo-Salgado acquired 31,163 shares of common stock at a price of $28.35 per share.
• These acquired shares represent fully vested performance-based restricted stock units (RSUs) originally granted on February 24, 2023.
• The vesting was contingent on EVERTEC's achievement of an adjusted EBITDA target for 2023, subject to a total shareholder return modifier over a three-year performance period.
• Concurrently, on March 3, 2026, 17,931 shares of common stock were disposed of at $28.35 per share to cover tax liabilities associated with the RSU vestings.
• The shares withheld for tax included 11,176 from the performance-based RSUs granted on February 24, 2023, 2,129 from time-based RSUs granted on February 24, 2023, 2,165 from time-based RSUs granted on February 29, 2024, and 2,461 from time-based RSUs granted on February 28, 2025.
• Following these transactions, Mr. Castrillo-Salgado's direct beneficial ownership of common stock decreased from 112,371 shares to 94,440 shares.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a routine insider transaction, with the vesting of performance-based RSUs indicating the company met specific financial targets, which is a positive signal for operational execution.

Positives

• The vesting of performance-based restricted stock units indicates that EVERTEC achieved its adjusted EBITDA target for 2023, a positive sign for the company's operational performance.
• The RSU program includes a total shareholder return modifier, aligning executive incentives with shareholder value creation over a three-year period.

Negatives

• The net effect of the transactions is a decrease in the reporting person's direct beneficial ownership of common stock by 17,931 shares due to tax withholding.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

StockSavvy.ai notes that this Form 4 filing details a routine insider transaction related to executive compensation. The vesting of performance-based RSUs is a common practice in the financial technology sector, aligning executive incentives with company performance metrics such as EBITDA and total shareholder return. This type of transaction is specific to the individual executive and does not typically reflect broader industry trends or competitive positioning.

Stakeholder Impact

• Shareholders: The vesting of performance-based RSUs suggests that the company met its 2023 adjusted EBITDA target, which could be viewed positively. The net decrease in shares held by the CFO is a routine event for tax purposes and not indicative of a change in confidence.
• Employees: The RSU vesting demonstrates the company's commitment to its executive compensation plans, which can positively influence employee morale and retention.

Key Dates

Keywords

EVERTEC, EVTC, Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Executive Compensation, Stock Ownership, EBITDA Target, Total Shareholder Return