Form 4: Evertec Executive Vice President Miguel Vizcarrondo Reports Tax Liability Share Withholding

Executive Vice President Miguel Vizcarrondo reports the withholding of 4,840 common stock shares by Evertec to cover tax liabilities related to vesting restricted stock units.

Summary

• On March 5, 2025, Miguel Vizcarrondo, Executive Vice President of EVERTEC, Inc., reported a transaction involving the withholding of 4,840 shares of common stock by the issuer to cover tax liabilities.
• These shares were withheld in connection with the vesting of restricted stock units (RSUs) granted on February 25, 2022 (1,478 shares), February 24, 2023 (1,667 shares), and February 29, 2024 (1,695 shares).
• Following the transaction, Vizcarrondo directly owns 132,509 shares of Evertec common stock.

Sentiment

Score: 5

Explanation: This is a routine transaction related to executive compensation and tax obligations, with no inherent positive or negative implications for the company's overall performance.

Industry Context

This is a standard Form 4 filing, reflecting insider transactions related to equity compensation. It's common for companies to withhold shares to cover tax obligations upon the vesting of RSUs.

Comparison to Industry Standards

• Share withholding for tax liabilities upon RSU vesting is a standard practice across publicly traded companies.
• Companies like Global Payments Inc. (GPN) and Fiserv Inc. (FI) also report similar transactions by their executives in Form 4 filings.
• The number of shares withheld is proportional to the executive's tax rate and the value of the vested RSUs, aligning with standard compensation practices.

Stakeholder Impact

• The transaction has a minimal impact on shareholders, as it involves the withholding of shares already allocated as part of executive compensation.
• Employees who hold RSUs may experience similar share withholding for tax purposes upon vesting.

Key Dates