Form 4: EVERTEC EVP Vizcarrondo Reports Stock Vesting & Tax Withholding

EVERTEC's Executive Vice President, Miguel Vizcarrondo, reported the vesting of performance-based restricted stock units and subsequent tax-related share withholdings.

Summary

• Miguel Vizcarrondo, Executive Vice President of EVERTEC, Inc., reported transactions on March 3, 2026.
• Acquired 24,404 shares of common stock at $28.35 per share due to the vesting of performance-based restricted stock units (RSUs).
• These RSUs were originally granted on February 24, 2023, and earned based on EVERTEC's achievement of an adjusted EBITDA target for 2023, subject to a three-year total shareholder return modifier.
• Disposed of 13,817 shares of common stock at $28.35 per share.
• This disposition was due to shares withheld by EVERTEC to cover the reporting person's tax liability associated with the vesting of various RSUs.
• The tax withholding included shares from performance-based RSUs granted on February 24, 2023, and time-based RSUs granted on February 24, 2023, February 29, 2024, and February 28, 2025.
• Following these transactions, Miguel Vizcarrondo directly beneficially owns 103,096 shares of EVERTEC common stock.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this filing as moderately positive, primarily because the vesting of performance-based RSUs indicates the company met its 2023 adjusted EBITDA target, reflecting solid operational performance.

Positives

• The vesting of 24,404 performance-based restricted stock units indicates that EVERTEC achieved its adjusted EBITDA target for 2023, demonstrating strong operational performance.
• The vesting also suggests a positive outcome regarding the three-year total shareholder return modifier for the RSUs granted on February 24, 2023.

Negatives

• The disposition of 13,817 shares for tax withholding reduces the reporting person's direct beneficial ownership, although this is a standard practice for RSU vesting.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that executive stock vesting and subsequent tax withholdings are standard practices in executive compensation across the financial technology and payment processing industry. The achievement of performance targets, such as adjusted EBITDA, is a common incentive structure designed to align executive interests with shareholder value creation.

Comparison to Industry Standards

• StockSavvy.ai observes that the use of performance-based restricted stock units tied to financial metrics like adjusted EBITDA and total shareholder return is a widely adopted compensation strategy among publicly traded companies, particularly in the technology and financial services sectors.
• Companies like Visa (V), Mastercard (MA), and Fiserv (FI) frequently utilize similar long-term incentive plans to motivate executives and ensure alignment with company performance and shareholder interests.
• The specific share price of $28.35 for the transactions is reflective of EVERTEC's market valuation at the time of the event.

Stakeholder Impact

• Shareholders: The vesting of performance-based RSUs suggests the company met its performance targets, which is generally positive for shareholder confidence. The executive's continued ownership of a significant number of shares aligns their interests with shareholders.
• Employees: The successful vesting of executive compensation plans can signal a healthy company performance, potentially boosting overall employee morale.

Key Dates

Recommendation

The filing details routine executive compensation events, specifically the vesting of restricted stock units and subsequent tax-related share withholdings. While the vesting of performance-based RSUs indicates the company met its 2023 adjusted EBITDA target, which is a positive sign of operational performance, these transactions are standard and expected. They do not introduce new information that would fundamentally alter the investment thesis for EVERTEC, warranting a 'hold' recommendation based solely on this filing.

Keywords

EVERTEC, EVTC, Form 4, Insider Trading, Stock Vesting, Restricted Stock Units, RSU, Executive Compensation, Miguel Vizcarrondo, Share Ownership, Tax Withholding, Performance-Based Compensation