Narula Jagtar 4

What Happened
Jagtar Narula, Chief Financial Officer of WEX Inc. (WEX), had restricted and performance-based units convert into common stock on March 15, 2026. A total of 11,981 derivative units converted into shares (no cash exercise price). To cover tax withholding, WEX automatically withheld 4,832 shares at $159.95/share (total withheld ≈ $772,878), leaving Narula with a net issuance of approximately 7,149 shares (net value ≈ $1.14M at $159.95).

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (timely filing).
• Conversion details: 11,981 shares acquired via conversion of RSUs/MSUs (transaction code M; exercise/conversion of derivative).
• Tax withholding: 4,832 shares withheld by the company (transaction code F) at $159.95/share; total withheld ≈ $772,878.
• Net shares received: ≈7,149 shares retained by the reporting person.
• Footnotes: RSUs vested and converted to one share each; MSUs are performance-based and the second tranche vested with a 71.27% payout factor (so MSUs converted based on that factor). Withholding represents automatic company withholding to cover taxes (cashless withholding).
• Shares owned after transaction: not specified in the provided filing details.

Context

• These transactions reflect routine vesting and conversion of restricted stock units (RSUs) and market/share units (MSUs), not an open-market purchase or discretionary sale. The $0.00 “exercise price” indicates conversion of granted units (no cash paid to acquire the shares).
• MSUs are performance-based; the disclosed 71.27% payout factor reduced the number of shares delivered relative to target for the applicable tranche.
• Tax-withholding dispositions are common and do not necessarily indicate a personal sale decision by the insider.