Ernesto Boada, Chief Technology Officer of CPI Card Group Inc., filed a Form 4 on November 3, 2026, disclosing the vesting of restricted stock units and a related tax withholding transaction dated October 31, 2026.

Key Highlights

  • RSU vesting: 4,650 restricted stock units vested on October 31, 2026, each representing the right to receive one common share of CPI Card Group Inc.
  • Tax withholding: 1,337 shares were withheld by the issuer at $26.15 per share to satisfy a mandatory tax withholding requirement upon vesting; the filing states this was "not an open market sale of securities."
  • Post-transaction holdings: Boada directly holds 8,751 shares of common stock following the reported transactions.
  • Remaining RSUs: 4,650 RSUs remain beneficially owned following the transactions, with the remaining tranche from the October 31, 2024 award date scheduled to vest on the third anniversary of that date, subject to continued service.
  • Award origin: The vested RSUs were originally awarded on October 31, 2024, vesting in substantially equal installments on the first and second anniversaries of the award date.
  • Issuer: CPI Card Group Inc., listed on NASDAQ:PMTS.

CPI Card Group CTO Boada Reports RSU Vesting and Tax Withholding on October 31, 2026

According to the filing, Ernesto Boada, serving as Chief Technology Officer of CPI Card Group Inc. (NASDAQ:PMTS), reported two transactions in the company's common stock on October 31, 2026. The first was the vesting of 4,650 restricted stock units under transaction code "M," which resulted in an acquisition of 4,650 shares of common stock. The filing notes that each RSU represents the right to receive one common share upon vesting.

The second transaction, coded "F," reflects 1,337 shares disposed of at a price of $26.15 per share. The filing specifies that these shares were "withheld by Issuer to satisfy the mandatory tax withholding requirement upon vesting RSUs" and characterizes the disposition as "not an open market sale of securities." Following both transactions, Boada directly held 8,751 shares of common stock.

The filing further discloses that the vested RSUs were part of an award granted on October 31, 2024, structured to vest "in substantially equal installments on the first and second anniversaries of the award date." A remaining tranche of 4,650 RSUs from that same award is disclosed as still outstanding, with vesting expected "on the third anniversary of the award date, subject to the reporting person's continued service through such date or as otherwise provided for in the applicable award agreement." The Form 4 was signed by Darren Dragovich as attorney-in-fact and filed on November 3, 2026.

What Was Disclosed

Ernesto Boada, CTO of CPI Card Group Inc., disclosed the vesting of 4,650 RSUs and the withholding of 1,337 shares at $26.15 for tax purposes on October 31, 2026, leaving him with 8,751 shares held directly and 4,650 RSUs remaining.