Form 4: i3 Verticals President Vests 15,000 Performance Shares

i3 Verticals President Frederick Stanford acquired 15,000 shares of Class A common stock through the vesting of performance-based restricted stock units after achieving EPS targets.

Summary

• Frederick Stanford, President of i3 Verticals, Inc., acquired 15,000 shares of Class A common stock.
• The acquisition occurred on November 14, 2025, at a price of $0 per share.
• These shares represent performance-based restricted stock units that vested due to the achievement of specific adjusted diluted earnings per share targets.
• The Compensation Committee of the Board of Directors determined on November 14, 2025, that these targets were achieved.
• The original grant date for these restricted stock units was September 2, 2022.
• Following this transaction, Frederick Stanford beneficially owns 55,000 shares of Class A common stock.
• An additional 10,000 performance-based restricted stock units remain eligible to vest based on future fiscal year performance.

Sentiment

Score: 8

Explanation: The vesting of performance-based restricted stock units indicates the company successfully met its adjusted diluted earnings per share targets, reflecting strong operational performance and effective executive incentive alignment.

Positives

• Achievement of adjusted diluted earnings per share targets, indicating strong company performance.
• Vesting of performance-based restricted stock units aligns management incentives with shareholder value creation.

Future Outlook

An additional 10,000 performance-based restricted stock units are still eligible to vest based on the achievement of future fiscal year performance targets.

Industry Context

This filing reflects standard executive compensation practices, where performance-based equity awards are used to incentivize management to achieve specific financial targets, a common strategy across various industries to align executive interests with shareholder value.

Comparison to Industry Standards

• The use of performance-based restricted stock units (RSUs) tied to earnings per share targets is a common executive compensation practice, comparable to programs at companies like Global Payments Inc. (GPN) or Fiserv, Inc. (FISV) in the financial technology sector, which also utilize long-term incentive plans to reward performance and retain key executives.

Corporate Governance

Stakeholder Impact

• Shareholders: Positive impact as the vesting indicates the company met its performance targets, potentially leading to increased shareholder value.
• Employees (specifically management): Positive impact through the realization of performance-based compensation, reinforcing incentive structures.

Next Steps

• Future vesting of 10,000 performance-based restricted stock units based on achievement of future fiscal year performance targets.

Key Dates

Recommendation

This Form 4 reports a routine vesting of performance-based restricted stock units for an executive, indicating the company met its EPS targets. While positive, it does not present new fundamental information that would significantly alter the investment thesis for i3 Verticals, Inc. Therefore, a 'hold' recommendation is appropriate, maintaining current positions based on broader company fundamentals rather than this specific insider transaction.

Keywords

i3 Verticals, IIIV, Frederick Stanford, Form 4, insider transaction, stock vesting, restricted stock units, performance shares, executive compensation