Drew Ann Elena 4

What Happened

• Drew Ann Elena, Chief Risk and Compliance Officer at WEX, had restricted/share units vest and convert into common stock on March 15, 2026. A total of 3,638 units converted into shares (RSUs and MSUs).
• WEX automatically withheld 1,615 shares to cover tax withholding at $159.95 per share, generating proceeds of approximately $258,319. The underlying awards had no cash exercise price (conversion of units to shares).
• This was a vesting/conversion event (not an open-market purchase). Withholding of shares for taxes is a routine administrative step, not a discretionary sale by the insider.

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (appears timely).
• Conversion (code M): 3,638 RSUs/MSUs converted into common stock at $0 exercise price.
• Withholding (code F): 1,615 shares withheld/treated as disposed at $159.95 for taxes, totaling ~$258,319 (breakdown in filing: 120, 114, 1,299, 82 shares withheld).
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Footnotes: Withholdings (F1/F2) represent shares automatically withheld to pay taxes. RSUs converted 1:1 to shares (F3/F5/F4). MSU payout factor for the second tranche was 71.27% (F6/F7/F8), so MSUs converted into shares based on that performance multiplier.

Context

• This was a vesting and conversion of restricted stock/performance units (RSUs and MSUs), not a market purchase or voluntary sale. The company’s share withholding to satisfy tax obligations is a common “cashless” mechanism and does not necessarily indicate the insider’s view on the stock.
• Transaction codes: M = conversion/exercise of derivative (here, unit conversion); F = payment of tax liability via share withholding.