IYER KAL 4

What Happened
Iyer Kal, VP of Engineering at Wealthfront (WLTH), converted a total of 71,577 restricted stock units (RSUs) into common shares on March 15, 2026. As part of the net-settlement, 25,805 shares were withheld on March 16, 2026 to satisfy tax withholding obligations, valued at $7.86 per share for a total withholding of $202,827. The RSU conversion lines are reported as exercise/conversion of a derivative (transaction code M) and the withholding as a payment of tax liability (code F).

Key Details

• Transaction dates: conversion reported March 15, 2026; tax-withholding payment on March 16, 2026. Filing date: March 17, 2026 (timely).
• Shares converted (acquired): 9,688 + 20,388 + 20,388 + 21,113 = 71,577 RSUs converted to shares.
• Shares withheld for taxes (disposed): 25,805 shares at $7.86 = $202,827. Net shares received after withholding: 71,577 − 25,805 = 45,772 shares.
• Price reported on conversion lines: $0.00 (RSUs settled into shares, not purchased).
• Footnotes: these were RSUs (each RSU = 1 share on settlement); vesting schedule is quarterly (1/16 each quarter per footnotes) with multiple award vintages; RSUs do not expire prior to vesting. Footnote F1 confirms the withholding satisfied tax liabilities via net settlement.
• Shares owned after the transaction are not specified in the filing.

Context

• This transaction is a conversion/net settlement of vested RSUs, not an open-market purchase or discretionary sale. The $0.00 price lines reflect settlement of RSUs rather than a cash purchase.
• Withholdings to cover taxes are routine for net-settled equity awards and do not by themselves indicate a buy/sell sentiment.