Carriedo Carlos 4

What Happened
Carlos Carriedo, WEX’s COO for Americas Payments & Mobility, received equity awards and had a portion vest/convert in mid‑March 2026. On March 16, 2026 he was granted 6,634 Market Share Units (MSUs, performance‑based) and 4,975 Restricted Stock Units (RSUs). On March 17, 2026, 1,771 derivative units converted into shares (reported as exercise/conversion at $0.00). To satisfy tax withholding on the vesting, 786 shares were surrendered/withheld at $156.79 per share, totaling $123,237. The filings show a conversion/administrative disposal line for 1,771 shares at $0.00 (no cash proceeds).

Key Details

• Transaction dates: Grants on 2026-03-16; conversions/vesting and tax withholding on 2026-03-17. Filing date: 2026-03-18.
• Prices/values: Withheld 786 shares @ $156.79 = $123,237. Grants and conversions reported at $0.00 (typical for RSU/MSU conversions).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes of note:
  • RSUs vested on March 17 and converted 1-for-1 into shares (F2); one‑third of RSUs/MSUs typically vest each year (F3, F6).
  • MSUs are performance‑based and convert to a variable number of shares based on a payout factor tied to VWAP; payout range is 60%–200% of target (F4, F5, F6).
  • F1 indicates the 786‑share disposition reflects shares automatically withheld by WEX for taxes on vesting.
• Filing timeliness: Filed March 18 for March 16–17 activity — appears within the usual 2 business‑day Form 4 window.

Context

• These entries reflect executive compensation activity (grants and vesting/conversion), not an open‑market purchase or sale for personal liquidity. The tax withholding is a routine administrative disposition and does not necessarily indicate bearish sentiment. MSU awards are performance‑based: the ultimate number of shares from the 6,634 target MSUs will depend on future VWAP calculations and meeting the minimum payout threshold.