Form 4: Evertec Inc. Executive Acquires Shares Through Restricted Stock Units and Performance-Based Vesting

Luis A. Rodriguez-Gonzalez, General Counsel & EVP of EVERTEC, Inc., reports acquisition of shares through restricted stock units and vesting of performance-based restricted stock units.

Summary

• Luis A. Rodriguez-Gonzalez, General Counsel & EVP of EVERTEC, Inc. acquired 13,926 shares of common stock on February 28, 2025, at a price of $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 of service conditions.
• Additionally, on March 4, 2025, Rodriguez-Gonzalez acquired 6,171 shares of common stock at $37.92 per share due to the vesting of performance-based restricted stock units originally granted on February 25, 2022.
• The vesting was based on EVERTEC'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, Rodriguez-Gonzalez beneficially owns 59,467 shares of EVERTEC, Inc. common stock.

Sentiment

Score: 7

Explanation: The document reflects a positive sentiment as it indicates the achievement of performance targets and alignment of executive interests with shareholders through equity ownership. The vesting of shares is a positive event.

Positives

• The vesting of performance-based restricted stock units suggests that EVERTEC, Inc. achieved its adjusted EBITDA target for 2022.
• The executive's increased stake in the company 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 of service in certain circumstances.

Future Outlook

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

Industry Context

Executive compensation practices, including the use of restricted stock units and performance-based vesting, are common in the industry to align management interests with shareholder value.

Comparison to Industry Standards

• Companies like Global Payments Inc. and Fiserv Inc. also utilize restricted stock units and performance-based equity awards as part of their executive compensation packages.
• The vesting schedules and performance metrics (such as EBITDA and total shareholder return) are typical components of these compensation plans, aiming to incentivize long-term value creation.

Stakeholder Impact

• Shareholders may view the vesting of performance-based restricted stock units positively, as it suggests the company is meeting its financial goals.
• Employees may be motivated by the company's achievement of performance targets.

Key Dates