Wealthfront (WLTH) VP Iyer Kal Sells Shares After RSU Vesting

What Happened Iyer Kal, Vice President of Engineering at Wealthfront (WLTH), had multiple restricted stock units (RSUs) convert to 77,452 shares on Sept 15, 2026 (reported as derivative exercises). To cover tax withholding, 77,452 of the vested shares were surrendered/withheld. In addition, Kal sold 33,583 shares on Sept 15, 2026 at a weighted average price of $10.73 (range $10.55–$10.88) for $360,359, and sold 10,408 shares on Sept 16, 2026 at a weighted average price of $10.19 (range $9.96–$10.83) for $106,068 — total reported open‑market proceeds about $466,427. These are sales (routine/liquidity) rather than purchases.

Key Details

• Transaction dates: RSU settlement recorded 2026-09-15; open-market sales 2026-09-15 and 2026-09-16.
• Prices: Weighted averages $10.73 (33,583 shares, range $10.55–$10.88) and $10.19 (10,408 shares, range $9.96–$10.83).
• Shares involved: 77,452 shares vested (converted), 77,452 shares withheld for taxes, and 43,991 shares sold in the open market.
• Proceeds: ~ $360,359 (9/15 sale) + $106,068 (9/16 sale) = ~$466,427 total reported from open-market sales.
• Footnotes: F1 indicates shares were sold/withheld to satisfy tax withholding on RSU vesting; F4–F9 describe RSU mechanics and quarterly 1/16 vesting schedules for different awards. F2/F3 note the reported prices are weighted averages across multiple trades.
• Shares owned after transaction: Not specified in this filing.
• Timeliness: Filing indicates a late report (marked "L").

Context The "M" codes reflect conversion/exercise of derivative awards (here, settled RSUs). The pattern — shares vesting then being withheld to cover taxes plus additional open-market sales — is common for executives receiving RSU compensation and generally reflects tax withholding and liquidity needs rather than a signal of changed conviction. This filing does not show any purchases.