Form 4: i3 Verticals CFO Reduces Holdings for Tax

i3 Verticals CFO Geoffrey C. Smith reported two dispositions of Class A common stock to cover tax obligations from vested restricted stock units.

Summary

• Geoffrey C. Smith, Chief Financial Officer of i3 Verticals, Inc. (IIIV), reported two transactions involving the disposition of Class A common stock.
• On September 21, 2025, Smith disposed of 1,964 shares of Class A common stock at a price of $32.07 per share.
• This disposition was to cover tax payments following the vesting of 3,750 restricted stock units originally granted on September 20, 2024.
• Following this transaction, Smith beneficially owned 68,036 shares of Class A common stock.
• On November 14, 2025, Smith disposed of an additional 7,403 shares of Class A common stock at a price of $30.75 per share.
• This second disposition was also for tax withholding purposes, related to the vesting of 15,000 performance-based restricted stock units originally granted on September 2, 2022.
• After the November 14, 2025 transaction, Smith's beneficial ownership of Class A common stock stood at 60,633 shares.

Sentiment

Score: 5

Explanation: The filing reports routine tax-related dispositions of shares following RSU vesting, which is a neutral event in terms of company performance or strategic direction. It does not indicate a change in management's confidence or company fundamentals.

Positives

• The vesting of 3,750 restricted stock units and 15,000 performance-based restricted stock units indicates successful achievement of compensation milestones for the Chief Financial Officer.

Negatives

• The dispositions resulted in a reduction of Geoffrey C. Smith's direct beneficial ownership of Class A common stock by a total of 9,367 shares (1,964 + 7,403).

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

Insider transactions, particularly those related to tax withholding upon RSU vesting, are common across all industries for publicly traded companies. They reflect standard executive compensation practices and tax obligations rather than specific industry trends.

Stakeholder Impact

• Shareholders: The transactions represent a minor reduction in insider ownership, which is a common occurrence for tax purposes and generally not indicative of a change in company prospects. The overall impact on shareholder confidence is likely minimal.

Key Dates

Recommendation

The Form 4 details routine tax-related dispositions of shares by the CFO following RSU vesting. These transactions do not reflect a change in investment thesis or company fundamentals, thus a 'hold' recommendation is maintained based solely on this filing.

Keywords

i3 Verticals, IIIV, Form 4, insider transaction, stock disposition, restricted stock units, CFO, tax withholding, beneficial ownership