Nuvei said Wednesday that its president and CEO, Philip Fayer, had acquired more shares of the company.

According to the Montreal-based payment technology company, Mr. Fayer acquired 22,151 subordinate voting shares as a result of the settlement of vested restricted stock units.

Nuvei said Mr. Fayer now has beneficial ownership or control over, or control over, 27,857,328 multiple voting shares, representing 36.62% of the multiple voting shares issued and outstanding, and 22,151 subordinate voting shares.

He also holds equity-based awards allowing him to acquire up to 3,417,108 subordinate voting shares.

Mr. Fayer is the founder of Nuvei.

Nuvei shares fell $1.01, or 4.6 per cent, on the Toronto Stock Exchange on Wednesday, where they closed at $21.12.