XPEL Director Stacy L. Bogart Converts 441 RSUs to Shares

What Happened
Stacy L. Bogart, a director of XPEL, had 441 restricted stock units (RSUs convert/convertible derivative) settle on September 10, 2026, resulting in 441 shares acquired through conversion. The same 441 shares are also reported as disposed with a reported price of $0.00 (reported value $0). The transaction is recorded as a conversion/exercise of a derivative (transaction code M) rather than an open-market purchase or sale.

Key Details

• Transaction date: September 10, 2026 (Form filed 2026-09-11).
• Transaction types: Exercise/conversion of derivative (M) — 441 shares acquired (price N/A); 441 shares disposed at $0.00 (reported value $0).
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes: F1 clarifies each RSU equals a contingent right to one share. F2 notes these RSUs were part of a 1,765-RSU grant on June 10, 2026 that vests quarterly over one year (final vesting June 10, 2027).
• Timeliness: Filing appears timely (filed the day after the reported transaction).

Context
This looks like routine RSU vesting/settlement (the 1,765-RSU grant vests in roughly four quarterly tranches of ~441 shares). Conversions of RSUs into shares are common compensation events and do not necessarily signal a buy or sell intent by the insider. The simultaneous reported disposition at $0 is often associated with share settlement mechanics (for example, withholding or delivery to satisfy tax obligations), though specific reasons aren’t detailed in the filing. Purchases or open-market sales typically carry clearer sentiment signals for investors.