Power Solutions International, Inc. CFO Li Xun filed a Form 4 on November 13, 2026, reporting the net exercise of 7,500 stock appreciation rights and a related share withholding transaction dated November 10, 2026.

Key Highlights

  • Reporting person: Li Xun, Chief Financial Officer of Power Solutions International, Inc. (NASDAQ:PSIX)
  • SAR exercise: 7,500 stock appreciation rights were exercised on November 10, 2026, using transaction code M
  • Shares received: According to the filing, 3,956 shares of common stock were received upon the net exercise of the 7,500 SARs
  • Shares withheld: 3,544 shares were withheld to cover the exercise price and satisfy tax withholding obligations, at a price of $37.72 per share
  • SAR terms: The SARs carried a conversion price of $2.00, vested on September 2, 2026, and have an expiration date of September 2, 2032
  • Resulting ownership: Following the transactions, Li Xun directly held 8,548 shares of common stock and zero stock appreciation rights

Li Xun's SAR Exercise and Share Withholding at Power Solutions International

According to the Form 4 filed with the SEC, Li Xun, serving as Chief Financial Officer of Power Solutions International, Inc. (NASDAQ:PSIX), reported two transactions in common stock on November 10, 2026. The first was an acquisition of 7,500 shares coded as M, reflecting the conversion of stock appreciation rights. The second was a disposition of 3,544 shares coded as F, representing shares withheld at $37.72 per share to satisfy the exercise price and tax withholding obligations arising from the SAR exercise.

The filing's explanation of responses states that "the reporting person received 3,956 shares of common stock upon the net exercise of 7,500 stock appreciation rights." The same footnote confirms that "a total of 3,544 shares of common stock underlying such SARs were withheld in payment of the exercise price and to satisfy the withholding tax obligation resulting from the exercise." The SARs, which carried a conversion or exercise price of $2.00 per share, are noted in Table II as having vested and become exercisable on September 2, 2026, with an expiration date of September 2, 2032.

Prior to the reported transactions, the filing indicates Li Xun held 4,592 shares directly (derived from the post-M transaction total of 12,092 minus the 7,500 acquired). After the M transaction, beneficial ownership stood at 12,092 shares, and after the F withholding transaction, direct ownership was reduced to 8,548 shares. The filing was signed by Xun Li and dated November 13, 2026.

What Was Disclosed

Li Xun, CFO of Power Solutions International, Inc., disclosed the net exercise of 7,500 SARs on November 10, 2026, resulting in 3,956 shares received, 3,544 shares withheld at $37.72, and a remaining direct holding of 8,548 common shares.