Crumly Richard K. 4

What Happened
Richard K. Crumly, a director of XPEL, converted restricted stock units (RSUs) into a total of 1,596 shares of XPEL common stock in three quarterly vesting events of 532 shares each (Sept 16, 2025; Dec 16, 2025; Mar 16, 2026). Each conversion is reported as an "exercise or conversion of derivative" (code M). The filings also show corresponding dispositions of the derivatives at $0.00 (no cash proceeds reported).

Key Details

• Transaction dates: 2025-09-16, 2025-12-16, 2026-03-16; 532 shares converted on each date (total 1,596).
• Reported price/value: $0.00 for the dispositions; no cash sale proceeds are shown.
• Grant/vesting note: RSUs were granted June 16, 2025 and vest quarterly over one year, with final vesting June 16, 2026 (Footnote F6).
• Other footnotes: F1 defines RSUs as rights to receive one share each; F2–F5 clarify beneficial ownership disclaimers and holdings through related entities/spouse.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Timeliness: Form 4 was filed March 18, 2026 reporting events from Sept 2025–Mar 2026; this is after the typical 2-business-day Section 16 reporting window and appears untimely.

Context
These were RSU vesting/conversion events (derivative settlements), not open-market purchases or sales. The reported $0 dispositions generally indicate conversion/settlement of RSUs rather than a cash sale; filings of this kind often reflect issuance and internal settlement steps (e.g., withholding or conversion) rather than an actionable buy/sell decision by the insider.