Leib Ryan J 4

What Happened

• Ryan J. Leib, Chief Accounting Officer of Vertex, converted/converted (exercise of derivative) a total of 6,348 restricted stock units (RSUs) into 6,348 shares on February 20, 2026. Per the filing, 2,045 of those shares were withheld to cover tax withholding (codes F) at a reported value of $12.74 per share, totaling $26,054. After withholding, Leib received a net 4,303 shares. The conversion entries are coded as M (exercise/conversion of derivative); the withholdings are coded F (tax withholding).

Key Details

• Transaction date: February 20, 2026; filing date: February 24, 2026 (reported within the typical SEC Form 4 window).
• Shares converted (acquired): 6,348 (4,035 + 2,313). Shares withheld for taxes (disposed): 2,045 (1,263 + 782) at $12.74/share, totaling $26,054.
• Net shares delivered to the insider: 4,303 shares.
• Footnotes: F1 notes each RSU equals one share. F2/F3 describe vesting schedules for remaining RSUs: some vest in two equal installments on Feb 22, 2027 and Feb 22, 2028; others vest in three equal installments on Feb 20 of 2027, 2028 and 2029. No expiration date for those RSUs.
• Shares owned after the transaction: not specified in the Form 4 details provided.

Context

• This was a conversion/vesting event (RSUs converting into common stock) with shares withheld to satisfy tax obligations — a routine administrative transaction, not an open-market sale or purchase. The M code refers to conversion of a derivative (RSU), and the F code indicates shares were surrendered/withheld for taxes (cashless withholding). Such transactions typically reflect scheduled vesting and tax compliance rather than an independent bullish or bearish trade signal.