Form 4: i3 Verticals GC Sells Shares for Tax Obligation

i3 Verticals' General Counsel, Paul Maple, disposed of 5,903 shares of Class A common stock to cover tax liabilities following the vesting of restricted stock units.

Summary

• Paul Maple, General Counsel and Secretary of i3 Verticals, Inc. (IIIV), reported a transaction involving Class A common stock.
• On November 14, 2025, Mr. Maple disposed of 5,903 shares of Class A common stock at a price of $30.75 per share.
• This disposition was a mandatory withholding of shares to cover tax payments associated with the vesting of 15,000 performance-based restricted stock units.
• These restricted stock units were originally granted to Mr. Maple on September 2, 2022.
• Following this transaction, Mr. Maple directly beneficially owns 42,366 shares of Class A common stock.

Sentiment

Score: 5

Explanation: The transaction is a routine, non-discretionary sale for tax purposes following RSU vesting, which is neutral in terms of company sentiment.

Positives

• The vesting of 15,000 performance-based restricted stock units indicates the achievement of performance criteria and provides compensation to the executive.

Negatives

• Paul Maple's direct beneficial ownership of Class A common stock decreased by 5,903 shares.

Future Outlook

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

Industry Context

This insider transaction is a routine event related to executive compensation and tax obligations, and it does not provide specific insights into broader industry trends or competitive positioning.

Stakeholder Impact

• Shareholders: A minor reduction in insider ownership, but for a routine, non-discretionary reason, which typically has minimal impact on investor perception.
• Employees (specifically Paul Maple): The vesting of RSUs represents a realization of compensation, with a portion sold to cover tax obligations.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary sale of shares by an executive to cover tax obligations upon RSU vesting. It does not reflect a change in the executive's confidence in the company's future or provide new fundamental information that would alter an investment thesis. Therefore, a 'hold' recommendation is appropriate as this event does not warrant a change in investment strategy.

Keywords

i3 Verticals, IIIV, Form 4, Insider Transaction, Stock Sale, Restricted Stock Units, RSU, Tax Withholding, Corporate Governance