Deshaies Robert Joseph 4

What Happened Robert Joseph Deshaies, WEX Inc.'s Chief Operating Officer, received equity awards and had a tranche of previously granted restricted units convert into shares. On March 16, 2026 he was granted 5,358 RSUs and a target of 4,019 MSUs (awards). On March 17, 2026 certain restricted units converted/exercised into shares (675 shares and 711 shares reported as conversions). To cover tax withholding, the company withheld 335 and 353 shares on March 17, 2026 (codes F), valued at $156.79 per share and totaling $52,525 and $55,347 (combined $107,872).

Key Details

• Transaction dates: Grants on 2026-03-16; conversions and tax-withholding on 2026-03-17; filing date 2026-03-18.
• Conversion (code M): 675 shares and 711 shares converted into common stock at $0 exercise price (derivative-to-share conversion).
• Tax withholding (code F): 335 shares withheld ($52,525) and 353 shares withheld ($55,347) at $156.79/share; total withholding value = $107,872.
• Grants (code A): 5,358 RSUs and 4,019 MSU target shares reported as granted on 2026-03-16.
• Shares owned after the transactions: not specified in the provided filing summary.
• Filing timeliness: Form 4 filed 2026-03-18 reporting 2026-03-16/17 activity — no indication of a late filing in the provided data.
• Notable footnotes: withholdings represent automatic shares withheld to pay taxes on vesting (F1, F2); RSUs vested and converted to one share each (F3, F4); MSUs are performance-based and converted using a payout factor (F5, F6, F7); the vested MSU tranche reflected a 105.38% payout factor for the applicable award (F6). The 4,019 MSU figure is the target number for the MSU award granted on 2026-03-16 (F8).

Context

• This was largely an award vesting / conversion event, not an open-market purchase or voluntary sale. The F-code transactions indicate a cashless-type settlement where shares were withheld to satisfy tax obligations — a routine administrative step rather than a directional buy/sell decision by the insider.
• MSUs are performance-based: payout depends on a calculated payout factor (min 60%, max 200%). The filing shows the first tranche of a prior MSU award paid out at ~105.38%, producing shares that were converted and partly withheld for taxes.