Form 4: TTEC Holdings GC & CRO Reports Vesting of Restricted Stock Units and Tax Withholding

Margaret B. McLean, General Counsel and Chief Risk Officer of TTEC Holdings, Inc., reported the vesting of 9,384 Restricted Stock Units and the withholding of 2,698 shares for tax obligations, increasing her direct beneficial ownership of common stock to 63,279 shares.

Summary

• Margaret B. McLean, General Counsel and Chief Risk Officer of TTEC Holdings, Inc., reported transactions on May 30, 2025.
• She acquired 9,384 shares of Common Stock due to the vesting of Restricted Stock Units (RSUs).
• Concurrently, 2,698 shares were disposed of to satisfy tax obligations related to the RSU vesting, at a price of $4.91 per share.
• No shares were sold by the reporting person; the disposition was solely for tax purposes.
• Following these transactions, Ms. McLean directly beneficially owns 63,279 shares of Common Stock.
• She also holds 18,766 unvested Restricted Stock Units.
• The initial grant of 28,150 time-based RSUs occurred on May 30, 2024, with vesting in three annual installments of 33% starting May 30, 2025.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as it indicates an executive's equity compensation vesting and an increase in beneficial ownership, aligning their interests with shareholders. The disposition is for tax purposes, not a sale, which is a neutral event. It's a routine, expected transaction.

Positives

• Increased direct beneficial ownership of common stock by a key executive, indicating alignment of interests with shareholders.
• Vesting of Restricted Stock Units demonstrates the executive's continued long-term incentive compensation.

Negatives

• Disposition of shares, even for tax purposes, reduces the total number of shares held by the executive compared to the gross RSU vesting amount.

Future Outlook

The document indicates future vesting installments for the remaining Restricted Stock Units, with 33% vesting annually starting May 30, 2025, suggesting continued long-term incentive alignment for the executive.

Management Comments

• "Reflects vesting of Restricted Stock Units ('RSUs') on May 30, 2025."
• "The Reporting Person initially received 28,150 time-based RSUs on May 30, 2024. The RSUs vest in three installments of 33% per year beginning on May 30, 2025."
• "Reflects withholding of shares to satisfy tax obligations in connection with the vesting of RSUs. No shares were sold."

Industry Context

This Form 4 filing is a routine disclosure of insider stock transactions, common across all publicly traded companies. It reflects standard executive compensation practices involving equity awards like Restricted Stock Units, which are designed to align executive interests with shareholder value creation over the long term. The tax withholding aspect is also a standard practice upon RSU vesting.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a component of executive compensation is a common practice across various industries, including the business process outsourcing and customer experience technology sectors where TTEC operates. This aligns with typical long-term incentive structures aimed at executive retention and performance alignment.
• The vesting schedule of three annual installments is a standard approach for equity awards, comparable to practices seen in companies like Concentrix, Teleperformance, or Alorica, which also utilize multi-year vesting to encourage sustained performance.
• The withholding of shares to cover tax obligations upon RSU vesting is a universal and legally mandated practice for equity compensation, consistent with how similar transactions are handled at virtually all public companies globally.

Stakeholder Impact

• Shareholders: Increased alignment of executive's interests with shareholders due to increased beneficial ownership of common stock.
• Employees: No direct impact on general employees, but reflects standard executive compensation practices.

Next Steps

• Future vesting of the remaining 18,766 Restricted Stock Units in two additional 33% annual installments after May 30, 2025.

Key Dates

Recommendation

Keywords

TTEC Holdings, TTEC, Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Executive Compensation, Beneficial Ownership, Margaret B. McLean