Kimball Jennifer 4

What Happened

• Jennifer Kimball, WEX’s Chief Accounting Officer, had restricted stock units (RSUs) and market/share-based units (MSUs) vest and convert into common stock on March 15, 2026. A total of 2,172 shares were issued to her (conversion priced at $0 per share for the derivative), and the company withheld 639 shares to cover tax withholding obligations (dispositions valued at $159.95 per share, totaling $102,208). Net new shares delivered to her after withholding: 1,533 shares.

Key Details

• Transaction date: March 15, 2026; filing date: March 17, 2026 (appears timely).
• Conversion/exercise code: M (exercise/conversion of derivative RSUs/MSUs); Withholding/disposition code: F (shares withheld to pay taxes).
• Withheld shares and values: 46 shares ($7,358), 59 shares ($9,437), 492 shares ($78,695), 42 shares ($6,718) — all at $159.95/share.
• MSU payout: The MSUs that vested were part of the March 15, 2024 award and converted at a 71.27% payout factor (footnote), producing fewer shares than target; MSU payouts range from 60%–200%.
• Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context

• These were vesting/conversion events (not open-market buys or voluntary sales). The F-coded entries reflect routine “sell-to-cover” tax withholding where the company retains shares to satisfy tax withholding on vesting. MSUs are performance-based awards; their payout depends on a formula tied to stock-price performance (described in the footnotes). Such transactions are common compensation events and don't by themselves indicate the insider is buying or selling stock for investment reasons.