<SEC-DOCUMENT>0001140361-23-028185.txt : 20230602
<SEC-HEADER>0001140361-23-028185.hdr.sgml : 20230602
<ACCEPTANCE-DATETIME>20230602212536
ACCESSION NUMBER:		0001140361-23-028185
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20230531
FILED AS OF DATE:		20230602
DATE AS OF CHANGE:		20230602

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Kilgore Sarah
		CENTRAL INDEX KEY:			0001725379

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37584
		FILM NUMBER:		23991048

	MAIL ADDRESS:	
		STREET 1:		C/O CPI CARD GROUP, INC.
		STREET 2:		10026 WEST SAN JUAN WAY
		CITY:			LITTLETON
		STATE:			CO
		ZIP:			80127

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CPI Card Group Inc.
		CENTRAL INDEX KEY:			0001641614
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL PRINTING [2750]
		IRS NUMBER:				260344657
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		10368 WEST CENTENNIAL RD
		CITY:			LITTLETON
		STATE:			CO
		ZIP:			80127
		BUSINESS PHONE:		720-681-6304

	MAIL ADDRESS:	
		STREET 1:		10368 WEST CENTENNIAL RD
		CITY:			LITTLETON
		STATE:			CO
		ZIP:			80127

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CPI Holdings I, Inc.
		DATE OF NAME CHANGE:	20150506
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    <periodOfReport>2023-05-31</periodOfReport>

    <issuer>
        <issuerCik>0001641614</issuerCik>
        <issuerName>CPI Card Group Inc.</issuerName>
        <issuerTradingSymbol>PMTS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001725379</rptOwnerCik>
            <rptOwnerName>Kilgore Sarah</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O CPI CARD GROUP, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>10368 W. CENTENNIAL ROAD</rptOwnerStreet2>
            <rptOwnerCity>LITTLETON</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80127</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>true</isOfficer>
            <officerTitle>Chief Legal &amp; Compliance Off.</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

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            <securityTitle>
                <value>Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2023-05-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>736</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
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            <exerciseDate>
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            </exerciseDate>
            <expirationDate>
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            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>736</value>
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            </underlyingSecurity>
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                    <value>736</value>
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                    <value>D</value>
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        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>26.61</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2023-05-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>458</value>
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                <transactionPricePerShare>
                    <value>0</value>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
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            <exerciseDate>
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            <expirationDate>
                <value>2030-05-31</value>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
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                <underlyingSecurityShares>
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                    <value>D</value>
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    <footnotes>
        <footnote id="F1">Each restricted stock unit (&quot;RSU&quot;) represents the right to receive one common share of Issuer upon vesting of such RSU.</footnote>
        <footnote id="F2">50% of the RSUs reported on this line vest on the first anniversary of the May 31, 2023 award date, and 50% will vest on the second 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.</footnote>
        <footnote id="F3">50% of the options reported on this line vest on the first anniversary of the May 31, 2023 award date, and 50% will vest on the second 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.</footnote>
    </footnotes>

    <remarks>Exhibit 24 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ Jessica Browne, attorney-in-fact</signatureName>
        <signatureDate>2023-06-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
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<TYPE>EX-24
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<DESCRIPTION>EXHIBIT 24
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 24</font><br>
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  <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">POWER OF ATTORNEY</div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; color: rgb(0, 0, 0);">Know all by these presents, that the undersigned hereby constitutes and appoints each of Jessica Browne and Jeffrey
    Hochstadt, signing singly, the undersigned&#8217;s true and lawful attorney-in-fact to:</div>
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        <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">1.</td>
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          <div style="color: rgb(0, 0, 0);">Execute for and on behalf of the undersigned, in the undersigned&#8217;s capacity as an officer and/or director of CPI Card Group Inc. (the &#8220;Company&#8221;), Forms 3, 4 and 5 in
            accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder, and the initial insider report, subsequent insider reports and all other forms and reports if required to be filed on
            SEDI in accordance with National Instrument 55-102 &#8211; <font style="font-style: italic;">System for Electronic Disclosure by Insiders (SEDI)</font> and National Instrument 55-104 &#8211; <font style="font-style: italic;">Insider Reporting Requirements and Exemptions</font> (collectively, the &#8220;Canadian Insider Reports&#8221;);</div>
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  <div>&#160;</div>
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        <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">2.</td>
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          <div style="color: rgb(0, 0, 0);">Do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Form 3, 4, 5 or Canadian Insider
            Reports, complete and execute any amendment or amendments thereto and timely file such form with the United States Securities and Exchange Commission, any national quotation system, national securities exchange, stock exchange or similar
            authority and on SEDI; and</div>
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  <div>&#160;</div>
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        <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">3.</td>
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          <div style="color: rgb(0, 0, 0);">Take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest
            of or legally required by the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and
            conditions as such attorney-in-fact may approve in such attorney-in-fact&#8217;s discretion.</div>
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  <div style="text-align: justify; text-indent: 36pt; color: rgb(0, 0, 0);">The undersigned hereby grants to the attorney-in-fact full power and authority to do and perform any and every act and
    thing whatsoever requisite, necessary or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution
    or evocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact&#8217;s substitute or substitutes, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted. The
    undersigned acknowledges that the foregoing attorney-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned&#8217;s responsibilities to comply with Section 16 of the
    Securities Exchange Act of 1934 or the applicable Canadian securities legislation.</div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; color: rgb(0, 0, 0);">This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3,
    4, 5 and Canadian Insider Reports with respect to the undersigned&#8217;s holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorney-in-fact.</div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; color: rgb(0, 0, 0);">IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 24th day of May, 2023.</div>
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          <div style="color: rgb(0, 0, 0);"><u>/s/ Sarah Kilgore</u></div>
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          <div style="color: rgb(0, 0, 0);"><u>Sarah Kilgore</u></div>
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