IYER KAL 4

What Happened

• Iyer Kal, Vice President of Engineering at Wealthfront (WLTH), had restricted stock units (RSUs) vest and convert to common shares on June 15, 2026. The filing shows multiple exercise/conversion (derivative) entries and subsequent dispositions: 41,784 shares were withheld to cover tax withholding at $8.80 per share (value $367,699) and 45,772 shares were sold in an open-market transaction at $8.92 per share (proceeds $408,208). The transactions reflect a net settlement of vested RSUs rather than a cash purchase of stock.

Key Details

• Transaction date: June 15, 2026 (Form filed June 17, 2026).
• Prices and values: tax withholding 41,784 shares @ $8.80 = $367,699; open-market sale 45,772 shares @ $8.92 = $408,208.
• Shares owned after transaction: not specified in the provided filing extract.
• Notable footnotes: tax withholding to issuer (F1); open-market sale executed under a Rule 10b5-1 trading plan adopted Jan 14, 2026 (F2); each RSU converts to one share on settlement (F3); a 249,000-RSU grant dated Dec 30, 2025 is reported on this Form 4 and was omitted earlier due to an administrative error (late report) (F8).
• Timeliness: Form filed June 17, 2026 and includes a late report of the Dec 30, 2025 RSU grant (see F8).

Context

• These were derivative/RSU settlement events: RSUs vested and converted into shares, with a portion withheld to satisfy tax obligations and the remainder sold under a pre-established 10b5-1 plan. This pattern is common for employees monetizing vested compensation and typically reflects routine post-vesting settlement rather than a directional buy/sell signal.
• Codes recap: M = exercise/conversion of derivative (RSU settlement), F = payment of exercise price or tax withholding, S = open market sale, A = award/grant.