Schulz David S. 4

What Happened

• David S. Schulz, EVP and former CFO of WESCO International (WCC), exercised stock appreciation rights/options that resulted in 35,003 shares being issued on March 4, 2026. He did not retain those shares — 7,670 were surrendered to the issuer, 11,887 were used to satisfy tax withholding/exercise liabilities, and 15,446 were sold in open-market transactions on March 5, 2026.
• Open-market sales: 14,190 shares at a weighted average ~$282.88 and 1,256 shares at a weighted average ~$284.03, totaling about $4,370,809. Surrenders/withholding (19,557 shares) were valued at roughly $5,604,645 at the reported $286.58 per-share market reference in the filing.

Key Details

• Transaction dates: Exercises and surrender/withholding on 2026-03-04; open-market sales on 2026-03-05. Form filed 2026-03-06 (appears timely).
• Exercise details: 22,144 shares acquired at $54.64 and 12,859 shares acquired at $76.80 (total 35,003 shares acquired via exercise/conversion).
• Dispositions to issuer: 4,223 and 3,447 shares (total 7,670) at $286.58 (D code).
• Tax/withholding: 7,794 and 4,093 shares (total 11,887) withheld/used to pay exercise/tax liabilities at $286.58 (F code).
• Open-market sales (S code): 15,446 shares sold for ~$4.37M (weighted price ranges noted in footnotes).
• Net effect: All 35,003 exercised shares were either surrendered/withheld or sold — no net new shares retained from these exercises.
• Footnotes: Sales were executed in multiple tranches across narrow price ranges (see weighted-average notes). The exercised awards were Stock Appreciation Rights that vested in installments (grants from Feb 13, 2019 and Feb 11, 2021 per footnotes F3/F4).
• Shares owned after transaction: Not specified in this filing (filing does not list total beneficial ownership).

Context

• This was essentially a cashless/net settlement of exercised awards: Schulz exercised SARs/options, and the issued shares were used to cover the exercise price and tax obligations, with the remainder sold in the open market. Such transactions commonly reflect routine exercise-and-sell activity rather than a simple buy signal.
• No indication in the filing of a 10b5-1 plan or that transactions were gifts; codes show exercises (M), dispositions to issuer (D), tax withholding (F), and open-market sales (S).