Form 4: EVP Viglianco Diego Reports Stock Transactions in EVERTEC, Inc.

EVP and Chief Operating Officer Diego Viglianco reports acquisition of EVERTEC, Inc. stock through restricted stock units and vesting of performance-based units.

Summary

• Diego Viglianco, EVP & Chief Operating Officer of EVERTEC, Inc., reported transactions involving the company's stock.
• On February 28, 2025, Viglianco acquired 20,889 shares of common stock at $37.34 per share through a grant of restricted stock units.
• These restricted stock units will vest in three equal installments annually starting in 2026.
• On March 4, 2025, Viglianco acquired 9,524 shares at $37.92 per share due to the vesting of performance-based restricted stock units granted on February 25, 2022.
• These performance-based units were earned 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, Viglianco beneficially owns 72,233 shares of EVERTEC common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The vesting of performance-based units indicates the company is meeting its targets, and the grant of new restricted stock units is a standard practice. There are no explicitly negative indicators.

Positives

• The vesting of performance-based restricted stock units suggests that EVERTEC met its adjusted EBITDA target for 2022, which is a positive indicator.
• The grant of restricted stock units incentivizes the executive to remain with the company and contribute to its long-term success.

Future Outlook

The restricted stock units granted on February 28, 2025, will vest in three equal installments on the anniversary of the grant date in 2026, 2027 and 2028, subject to earlier vesting upon a termination of service in certain circumstances.

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, stock options, and restricted stock units.
• Performance-based vesting is a common practice to incentivize executives to achieve specific financial or strategic goals.
• Companies like Global Payments Inc. (GPN) and Fiserv, Inc. (FISV), which are competitors of EVERTEC, also utilize similar compensation structures for their executives.

Stakeholder Impact

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

Key Dates