Deshaies Robert Joseph 4

What Happened

• Robert Joseph Deshaies, Chief Operating Officer of WEX Inc., had awards vest on March 15, 2026 and converted restricted/share units into 15,121 shares of common stock. To satisfy tax withholding, WEX withheld 7,190 shares at $159.95 per share (total ≈ $1,150,041), leaving a net issuance to Deshaies of 7,931 shares. The filing shows conversion/exercise of derivative awards (code M) and share withholding for taxes (code F).

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (timely).
• Gross shares converted/issued: 15,121 (sum of 1,175 + 693 + 12,759 + 494).
• Shares withheld for taxes: 7,190 (407 + 240 + 6,298 + 245) at $159.95/share; total withholding ≈ $1,150,041.
• Net new shares received by insider: 7,931.
• Transaction types: M = exercise/conversion of RSUs/MSUs; F = shares withheld to pay tax liability.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Notable footnotes: RSUs converted 1:1 to shares; MSUs converted based on a performance payout factor (the second tranche of MSUs granted 3/15/2024 paid out at a 71.27% factor). One-third of RSUs and MSUs vest annually over three years; tax withholding was done via share retention by the company.

Context

• This is a routine vesting and tax-withholding event (not an open-market sale or purchase). The withholding effectively functions like a cashless sale of a portion of the vested award to cover taxes. Footnotes clarify the MSU payout rules (60% minimum to earn a payout; capped at 200%) and that the reported MSU tranche paid out at 71.27%.