Form 4: EVP & CFO Joaquin A. Castrillo-Salgado Reports EVERTEC, Inc. Stock Transactions

Joaquin A. Castrillo-Salgado, EVP & CFO of EVERTEC, Inc., reports acquisition and disposal of common stock related to RSU vesting and tax obligations.

Summary

• On March 7, 2024, Joaquin A. Castrillo-Salgado acquired 31,336 shares of EVERTEC, Inc. common stock at a price of $36.92 per share due to the vesting of performance-based restricted stock units (RSUs).
• On the same day, 5,752 shares were disposed of at $36.92 per share to cover tax liabilities associated with the vesting of RSUs granted in 2021, 2022, and 2023.
• Following these transactions, Castrillo-Salgado beneficially owns 103,451 shares of EVERTEC, Inc. common stock.

Sentiment

Score: 6

Explanation: The document reflects routine transactions related to executive compensation. It's neutral in sentiment as it simply reports facts without indicating positive or negative performance.

Positives

• The vesting of performance-based RSUs indicates that the company achieved its adjusted EBITDA target for 2021, subject to a total shareholder return modifier over a three-year performance period.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders in publicly traded companies like EVERTEC, similar to filings made by executives at companies like Global Payments Inc. (GPN) and Fiserv, Inc. (FI).
• The reporting of RSU vesting and subsequent tax-related share disposals is a common occurrence across the industry, reflecting standard compensation practices.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax obligations.

Key Dates