Trickett Sara 4

What Happened Sara Trickett, Chief Legal Officer of WEX Inc. (WEX), had restricted stock units (RSUs) and performance-based market share units (MSUs) convert into common shares in mid‑March 2026. On March 17, 2026 she converted a total of 1,039 derivative units into shares (two conversions of 506 and 533 shares; exercise/conversion price $0.00). To satisfy tax withholding obligations, 149 shares (valued at $23,362) and 237 shares (valued at $37,159) were automatically withheld/disposed (total 386 shares, ~$60,521) at $156.79 per share. Separately, on March 16, 2026 she was recorded as receiving new award grants totaling 4,401 and 3,301 derivative units (reported as awards/grants).

Key Details

• Transaction dates: grants recorded 2026-03-16; vesting/conversion and tax withholding occurred 2026-03-17. Filing date: 2026-03-18 (timely).
• Conversion entries: 506 and 533 shares converted at $0.00 (derivative exercise/conversion).
• Tax withholding (disposals): 149 shares @ $156.79 = $23,362; 237 shares @ $156.79 = $37,159; total withheld = 386 shares (~$60,521).
• New awards recorded 3/16/2026: 4,401 and 3,301 derivative units (the 3,301 figure is the target number for an MSU award).
• Shares owned after the transactions are not specified in the provided excerpt.
• Footnotes of note: withholding entries are automatic tax-withholdings (not open‑market sales); one-third vesting schedules apply to RSUs and MSUs; the MSU tranche that vested used a 105.38% payout factor (first tranche from the March 17, 2025 MSU grant). MSU payout factors range 60%–200%.

Context

• These filings show awards vesting and standard tax‑withholding (F = tax withholding) rather than an intentional open‑market sale; such dispositions are routine to cover taxes and do not necessarily indicate a deliberate sale of shares.
• MSUs are performance-based: the number of shares issued on vesting depends on a payout factor tied to stock price performance (minimum 60%, maximum 200%).
• Derivative conversions (M) here reflect RSU/MSU vesting and conversion into common stock; withheld shares satisfied tax obligations (cashless withholding).