Form 4: Evertec Executive Vice President Miguel Vizcarrondo Reports Stock Transactions

Executive Vice President Miguel Vizcarrondo reports acquisition of Evertec stock through restricted stock units and vesting of performance-based units.

Summary

• Miguel Vizcarrondo, Executive Vice President of EVERTEC, Inc., reported transactions involving the company's stock.
• On February 28, 2025, Vizcarrondo acquired 13,926 shares of common stock at $37.34 per share through a grant of restricted stock units.
• These restricted stock units vest in three equal installments on the anniversary of the grant date in 2026, 2027, and 2028, subject to certain termination conditions.
• On March 4, 2025, Vizcarrondo acquired 9,508 shares of common stock at $37.92 per share due to the vesting of performance-based restricted stock units.
• These units were originally granted on February 25, 2022, and earned based on the company's achievement of an adjusted EBITDA target for 2022, subject to a total shareholder return modifier over a three-year performance period.
• Following these transactions, Vizcarrondo beneficially owns 137,349 shares of EVERTEC common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The vesting of performance-based units suggests the company is meeting its financial targets, and the increased stock ownership aligns the executive's interests with those of shareholders.

Positives

• The vesting of performance-based restricted stock units suggests that EVERTEC met its adjusted EBITDA target for 2022.
• The executive's increased stock ownership aligns his interests with those of the shareholders.

Risks

• The vesting of restricted stock units is subject to the executive's continued service with the company, with earlier vesting possible upon termination in certain circumstances.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting schedule of the restricted stock units implies continued service of the executive.

Industry Context

Executive stock transactions are common in publicly traded companies and are often used to align management's interests with those of shareholders. The vesting of performance-based units suggests the company is meeting its financial targets.

Comparison to Industry Standards

• Executive compensation packages often include a mix of salary, bonus, and equity-based compensation, such as restricted stock units and performance-based units.
• The vesting schedules and performance metrics used by EVERTEC are likely comparable to those used by other companies in the financial technology sector.
• Companies like Global Payments, Fiserv, and PayPal also utilize similar equity-based compensation strategies to incentivize and retain key executives.

Stakeholder Impact

• The vesting of performance-based units and the grant of restricted stock units can positively impact shareholders by aligning management's interests with the company's performance.
• Employees may be motivated by the company's achievement of its adjusted EBITDA target.

Key Dates