Wealthfront (WLTH) CEO Fortunato David Exercises Options, Sells Shares

What Happened
Fortunato David, CEO, President and Director of Wealthfront Corp (WLTH), exercised multiple stock options on 2026-09-11 totaling 705,248 shares at various strike prices, paying about $1.218M in exercise costs. To cover the tax and exercise obligations, 435,437 of the resulting shares were surrendered/sold (reported as a disposition) for a total value of $4,519,836. After the transactions, the filing shows a net increase of 269,811 shares held by the reporting person (705,248 acquired minus 435,437 surrendered). Footnotes indicate some reported securities are directly held by the reporting person’s spouse.

Key Details

• Transaction date: 2026-09-11; Form 4 filed 2026-09-15 (filed within the required 2 business days).
• Options exercised (code M) and strike prices/consideration paid:
  • 40,000 @ $1.50 = $60,000
  • 8,998 @ $1.50 = $13,497
  • 400,000 @ $1.79 = $716,000
  • 150,000 @ $1.87 = $280,500
  • 106,250 @ $1.39 = $147,688
  • Total paid on exercise: $1,217,685
• Shares disposed to cover tax/exercise (code F): 435,437 shares at $10.38 = $4,519,836.
• Derivative/cancellation entries at $0 reflect the options converted/exercised.
• Footnotes: options were fully vested (vesting dates range from Dec 27, 2021 through Nov 1, 2023); F1 notes some securities are held by spouse.
• Shares owned after the transaction: not specified in the excerpt provided beyond the net increase calculation above.

Context

• This was an option exercise with a cashless-like result: options were exercised and a portion of the resulting shares were surrendered/sold to satisfy exercise price and tax withholding (common practice for executives exercising vested options).
• Transaction codes: M = option exercise/conversion; F = payment of exercise price or tax liability.
• These filings are factual disclosures of ownership changes; they do not by themselves indicate the insider’s future view of the company.