Form 4: EVP Viglianco Reports Stock Award Vesting and Tax Withholding

EVP and Chief Operating Officer Diego Viglianco reports the vesting of performance-based restricted stock units and subsequent tax withholding by Evertec, Inc.

Summary

• On March 7, 2024, Diego Viglianco, EVP & Chief Operating Officer of EVERTEC, Inc., reported transactions involving the company's common stock.
• 11,551 shares were acquired due to the vesting of performance-based restricted stock units (RSUs) granted on June 2, 2021, at a price of $36.92.
• These RSUs were earned based on the issuer's achievement of an adjusted EBITDA target for 2021, subject to a total shareholder return modifier over a three-year performance period.
• 4,296 shares were withheld by the issuer to cover the reporting person's tax liability at a price of $36.92.
• Following these transactions, Viglianco directly owns 62,398 shares of EVERTEC, Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The vesting of RSUs suggests the company met its performance targets, which is a positive sign. The tax withholding is a normal part of the process.

Positives

• The vesting of performance-based restricted stock units suggests that the company met its adjusted EBITDA target for 2021, which is a positive indicator of financial performance.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It reflects the company's compensation structure and alignment of executive interests with shareholder value through performance-based equity awards.

Stakeholder Impact

• Shareholders may view the vesting of performance-based RSUs as a positive sign, indicating that the company is achieving its financial goals.
• The tax withholding has no direct impact on stakeholders.

Key Dates