Form 4: Evertec Director Virginia Gambale Reports Tax Liability Stock Disposal

Virginia Gambale, a director of Evertec, Inc., disposed of 94 shares of common stock on June 6, 2024, to cover tax liabilities related to vesting restricted stock units.

Summary

• On June 6, 2024, Virginia Gambale, a director of Evertec, Inc., had 94 shares of common stock disposed of to cover tax liabilities.
• The disposal was related to the vesting of restricted stock units granted on June 1, 2023.
• The price per share for the transaction was $34.97.
• Following the transaction, Gambale directly owns 8,044 shares of Evertec common stock.

Sentiment

Score: 5

Explanation: This is a neutral report of a routine transaction related to tax obligations. It doesn't indicate positive or negative sentiment.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.

Comparison to Industry Standards

• Executive compensation practices, including the granting and vesting of restricted stock units, are standard across publicly traded companies.
• The use of stock disposal to cover tax liabilities upon vesting is a common practice to simplify tax obligations for executives.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it involves a small number of shares.
• The transaction ensures the director meets her tax obligations related to her compensation.

Key Dates