Narula Jagtar 4

What Happened
Jagtar Narula, Chief Financial Officer of WEX Inc., had restricted stock units (RSUs) and market share units (MSUs) vest/convert into common shares and also received new equity awards. On March 17, 2026, converted award units (recorded as derivative exercises at $0.00) resulted in share issuance, and WEX automatically withheld shares to cover withholding taxes: 562 shares (tax value $88,116) and 592 shares (tax value $92,820), totaling $180,936. On March 16, 2026, Narula was granted additional award units totaling 9,823 and 7,367 share equivalents (derivative awards).

Key Details

• Transaction dates: Grants on 2026-03-16; vesting/conversion and tax withholding on 2026-03-17. Filing date: 2026-03-18 (timely).
• Prices recorded: conversions/exercises at $0.00 (M = exercise/conversion of RSU/MSU); tax-withheld shares recorded at $156.79 per share (F), producing $88,116 and $92,820 withholding amounts. Total tax withholding = $180,936.
• Shares shown in filing: conversions of 1,265 and 1,333 units (M); tax-withheld disposals of 562 and 592 shares (F); grants of 9,823 and 7,367 derivative units (A).
• Shares owned after the transactions: not specified in the provided extract of the filing.
• Notable footnotes: tax withholding was done via automatic share withholding (F1, F2); RSUs and MSUs converted 1-for-1 into shares on vesting (F3, F6); MSU payout is performance-based with a 60%–200% payout factor and one-third vesting annually (F5–F8).
• Transaction codes: M = exercise/conversion of derivative award; F = shares withheld to satisfy tax liabilities; A = grant/award. No indication the filing was late.

Context

• These entries reflect award vesting/conversion and routine employer tax-withholding rather than an open-market sale or purchase. The $0.00 “price” for M-line items indicates conversion of restricted/performance units into stock, not a cash purchase. The withheld-share disposals are a common cashless method employers use to satisfy tax obligations on vested awards.
• Such award vesting and withholding are standard compensation events and are not, by themselves, a directional buy/sell signal.