DeStefano David 4

What Happened

• Director David DeStefano exercised/converted 109,233 restricted stock units (RSUs) into Vertex Class A common shares on 2026-02-24.
• To satisfy tax withholding, 51,983 of those shares were withheld/disposed at $13.26 per share, totaling $689,295. The conversion also extinguished the corresponding derivative award.
• Net shares retained by DeStefano after withholding: 57,250 (109,233 acquired − 51,983 withheld). This was a routine net-settlement for tax purposes, not an open-market sale.

Key Details

• Transaction date: 2026-02-24; Form 4 filed 2026-02-26 (timely filing).
• Exercise/conversion: 109,233 RSUs acquired (transaction code M).
• Tax withholding/disposition: 51,983 shares disposed at $13.26 each, proceeds equal to $689,295 (transaction code F).
• Net shares received: 57,250.
• Footnotes: F1 — some securities are held in trusts for the reporting person’s three adult children (spouse is trustee); F2 — each RSU equals a contingent right to one share; F3 — this RSU award was fully vested.
• No 10b5-1 plan or open-market sale is reported in this filing.

Context

• This is a cashless/net settlement of vested RSUs (common for tax withholding) rather than a market sale intended to realize cash proceeds; such withholdings are routine and do not necessarily signal an insider’s view of the company.
• For retail investors, the key takeaway is an insider conversion of vested awards with a portion withheld for taxes, leaving DeStefano with a net increase in his shareholdings.