CHISM DANIEL M 4

What Happened
Daniel M. Chism, Chief Financial Officer of TSS, received a grant of 5,000 restricted shares on March 23, 2026 (reported on Form 4). The award is shown at $0.00 acquisition price. As part of the vesting event, 2,500 shares vested immediately on March 23, 2026 and 2,500 remain scheduled to vest on January 1, 2027 (subject to forfeiture if employment conditions are not met). To cover tax withholding related to the vested shares, 609 shares were surrendered to the issuer at $12.40 per share, totaling $7,552.

Key Details

• Transaction date: March 23, 2026; Form 4 filed March 25, 2026 (filed two days after the transaction, which appears timely under the 2-business-day rule).
• Award: 5,000 restricted shares acquired (code A) at $0.00.
• Tax withholding: 609 shares disposed (code F) at $12.40 per share, amounting to $7,552 surrendered to satisfy withholding.
• Vesting schedule (footnote): 2,500 shares vested on March 23, 2026; remaining 2,500 vest on January 1, 2027 and are subject to forfeiture.
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context
Restricted stock grants (acquisition at $0.00) are compensation awards and not open-market purchases; they signal company compensation rather than a personal market bet. Surrendering shares to cover taxes is a routine administrative step and does not necessarily indicate directional trading intent. The remaining 2,500 shares are contingent on continued employment and performance vesting.