SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Willems Tim (Last) (First) (Middle) C/O NCS MULTISTAGE HOLDINGS, INC. 19350 STATE HIGHWAY 249, SUITE 600 (Street) HOUSTON TX 77070 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol NCS Multistage Holdings, Inc. [ NCSM ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Chief Operations Officer
	3. Date of Earliest Transaction (Month/Day/Year) 02/28/2023
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/28/2023		M(1)		2,423	A	$0	20,752	D
Common Stock	02/28/2023		F(1)		2,423	D	$23.84	18,329	D
Common Stock	02/28/2023		D		240(2)	D	$23.84	18,089(3)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Equivalent Stock Units	(4)	02/28/2023		M(1)			2,423	(5)	(5)	Common Stock	2,423	$0	2,033(5)	D

Explanation of Responses:

1. Equivalent stock units vested on February 28, 2023 and settled for cash.

2. These shares were surrendered to satisfy the tax obligations related to the vesting of restricted stock units.

3. Includes 562 restricted stock units which vest on February 28, 2024 and 1,471 restricted stock units which vest in two equal annual installments beginning on February 28, 2024. Since the date of Mr. Willem's last ownership report, he dissolved the Willems Family Limited Partnership and transferred 15,274 shares of NCSM common stock, 2,190 equivalent stock units, of which 1,735 vested on February 28, 2023, and 1,067 restricted stock units, of which 612 vested on February 28, 2023, to his ex-wife pursuant to a domestic relations order (as defined in the Internal Revenue Code). The Reporting Person no longer reports as beneficially owned any securities owned by his ex-wife.

4. These equivalent stock units settle in cash and represent the economic equivalent of one share of common stock, provided that the amount of cash settled for any equivalent stock unit will not exceed the maximum payout established by the Compensation, Nominating and Governance Committee.

5. Includes 562 equivalent stock units which vest on February 28, 2024 and 1,471 equivalent stock units which vest in two equal annual installments beginning on February 28, 2024.

	/s/ Ori Lev, attorney-in-fact	03/02/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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