Form 4: Evertec Executive Vice President Miguel Vizcarrondo Reports Stock Transactions
SEC Form 4
Miguel Vizcarrondo, Executive Vice President of EVERTEC, Inc., reports acquisition and disposal of common stock related to vesting of performance-based restricted stock units and tax liability coverage.
Summary
- On March 7, 2024, Miguel Vizcarrondo, Executive Vice President of EVERTEC, Inc., acquired 26,684 shares of common stock at $36.92 per share due to the vesting of performance-based restricted stock units (RSUs).
- These RSUs were originally granted on March 2, 2021, and were earned based on EVERTEC's achievement of an adjusted EBITDA target for 2021, subject to a total shareholder return modifier over a three-year performance period.
- On the same day, 4,732 shares were disposed of at $36.92 per share to cover the tax liability associated with the vesting of RSUs.
- After these transactions, Vizcarrondo beneficially owns 169,928 shares of EVERTEC common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 2021-03-02 | Original grant date of performance-based restricted stock units (RSUs). |
| 2022-02-25 | Grant date of RSUs. |
| 2023-02-24 | Grant date of RSUs. |
| 2024-03-07 | Date of stock acquisition and disposal due to RSU vesting and tax liability. |
| 2024-03-11 | Date of signature on the report. |
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