Naranjo Alvarez Santiago 4

What Happened
Santiago Naranjo, Chief Revenue Officer of VTEX (NYSE: VTEX), reported conversions of derivative securities (RSUs) into a total of 190,625 shares on May 29, 2026 (75,000 + 15,625 + 100,000). The filing also reports dispositions of the identical amounts on the same date, resulting in no net change to his beneficial ownership. No per-share prices or dollar values are provided in the Form 4.

Key Details

• Transaction date: May 29, 2026; Form 4 filed June 2, 2026 (filed within typical two-business-day window).
• Actions reported: Three conversions (code C) totaling 190,625 shares and three corresponding dispositions of the same amounts.
• Price: N/A — the filing does not disclose sale or acquisition prices or total dollar amounts.
• Shares owned after transaction: Filing shows no net change in beneficial ownership (acquisitions and dispositions equal).
• Footnotes: F1–F4 indicate these were RSUs (1:1 share right) with staggered vesting schedules (some vested earlier, remainder vest in 6.25% tranches every three months).
• Regulatory note: VTEX is a foreign private issuer; the filing remarks exemption from Sections 16(b) and 16(c).

Context
The Form 4 records conversion of RSUs (derivative securities) into common shares and immediate disposition of those same shares. For retail investors, conversions followed by matching dispositions typically leave an insider’s net position unchanged; because no prices were reported here, the filing does not reveal proceeds or tax-related details.