Form 4: i3 Verticals General Counsel Reduces Class B Common Stock Holdings Following Recapitalization

Paul Maple, General Counsel and Secretary of i3 Verticals, Inc., decreased his holdings of Class B common stock by 1,028 shares due to a recapitalization.

Summary

• Paul Maple, the General Counsel and Secretary of i3 Verticals, Inc., reported a change in his beneficial ownership of the company's Class B common stock.
• On January 23, 2025, a recapitalization of i3 Verticals, LLC common units occurred, resulting in a reverse unit split.
• This recapitalization led to the retirement of 369,256 shares of the company's Class B common stock.
• As a result of the recapitalization, Mr. Maple's holdings of Class B common stock were reduced by 1,028 shares.
• Following the transaction, Mr. Maple beneficially owns 26,866 shares of Class B common stock.

Sentiment

Score: 5

Explanation: The document is a neutral report of a transaction resulting from a corporate action. It does not indicate positive or negative sentiment.

Negatives

• Paul Maple's holdings of Class B common stock decreased by 1,028 shares.

Industry Context

This filing reflects a routine change in beneficial ownership following a corporate action, which is common in publicly traded companies. The recapitalization is a specific event for i3 Verticals and may not be directly comparable to broader industry trends.

Comparison to Industry Standards

• Changes in beneficial ownership are a standard reporting requirement for company insiders, as mandated by the SEC.
• Recapitalizations and reverse unit splits are corporate actions that can affect the number of shares held by individuals, and are not uncommon in the corporate world.
• Similar filings are made by insiders at companies like Global Payments Inc. (GPN) and Fiserv, Inc. (FISV), which are also in the payment processing industry, when they have changes in their holdings.

Stakeholder Impact

• The recapitalization and subsequent reduction in shares held by insiders may have a minor impact on shareholders, but is not expected to be significant.

Key Dates

Keywords

i3 Verticals, Class B Common Stock, Recapitalization, Beneficial Ownership, SEC Form 4, Reverse Unit Split, Paul Maple