Wolf Christine Ann 4

What Happened

• Christine Ann Wolf, EVP & CHRO of WESCO International (WCC), exercised 5,231 stock appreciation rights (SARs) on 2026-03-05, acquiring 5,231 shares. The exercise accounted for $252,762 (5,231 shares @ $48.32).
• Immediately following the exercise, 3,637 of those shares were disposed: 897 shares were withheld/returned to the issuer (D) for $252,810, 1,896 shares were surrendered to cover tax liability (F) for $534,369, and 844 shares were sold in the open market (S) for $242,734. Total cash proceeds/dispositions from those transactions equal about $1.03 million.
• The filing also records a $0.00 derivative conversion entry related to the exercise (standard reporting detail for converting SARs to shares).

Key Details

• Transaction date: 2026-03-05; filing date: 2026-03-06 (timely).
• Exercise (M): 5,231 shares @ $48.32 = $252,762 (acquired).
• Dispositions: 897 shares @ $281.84 = $252,810 (to issuer); 1,896 shares @ $281.84 = $534,369 (tax withholding/surrendered); 844 shares @ $287.60 = $242,734 (open‑market sale).
• Net shares retained from this exercise: 1,594 shares (5,231 acquired − 3,637 disposed). The filer’s total WCC holdings after these transactions are not specified in the provided filing.
• Footnote: SARs became exercisable in three equal annual installments beginning on the first anniversary of the 2020-02-13 grant date (per F1).
• Transaction codes explained: M = exercise/conversion of derivative; D = disposition to issuer (often tax withholding); F = payment of exercise price or tax liability; S = open-market sale.

Context

• This was effectively a cashless exercise of SARs: the insider exercised appreciation rights, and a portion of the resulting shares were withheld/surrendered to cover taxes and fees, while another portion was sold on the open market for cash.
• Such combined exercise/withholding/sale transactions are common for satisfying tax obligations and do not, by themselves, indicate a change in insider confidence.