Wood Barry 4

What Happened

Barry Wood, Senior Vice President and Chief Financial Officer of XPEL, converted vested derivative awards on March 1, 2026. The Form 4 shows 2,446 shares were acquired via exercise/conversion (code M). Simultaneously, 3,172 shares were reported as disposed, including 726 shares withheld to satisfy tax liability at $42.62 per share for a total withholding value of $30,942 (code F). Two other derivative-related disposals (1,495 and 951 shares) were reported with $0 proceeds.

Key Details

• Transaction date: March 1, 2026; Form 4 filed March 3, 2026 (appears timely — Form 4 is due within two business days).
• Reported entries:
  • 2,446 shares acquired (exercise/conversion, M)
  • 726 shares withheld for taxes at $42.62/share = $30,942 (F)
  • 1,495 shares disposed at $0 (M)
  • 951 shares disposed at $0 (M)
• Shares owned after the transaction: Not specified in the filing.
• Footnotes: F1 notes each RSU represents a right to one share. F2/F3 show prior RSU grants — 5,982 RSUs on 3/1/2025 and 3,804 RSUs on 3/1/2024 — each vesting in four annual installments starting one year after grant.
• No 10b5-1 plan or late filing indicated in the document.

Context

• These transactions look like routine RSU vesting and net-share settlement/tax withholding rather than an open-market sale; withholding shares to cover taxes (code F) is common after RSU vesting.
• The M code indicates exercise or conversion of derivative awards (here, RSUs per footnotes). The disposals reported at $0 typically reflect net-settlement mechanics (shares issued and immediately applied to taxes or withheld), not an active cash sale on the open market.
• For retail investors: this is a routine executive compensation settlement with a modest tax-withholding sale (~$31k), and does not by itself indicate a change in the insider’s view of the company.