Fortunato David 4

What Happened

• Fortunato David (CEO, President and Director) had restricted stock units convert to 224,875 shares of Wealthfront common stock on March 15, 2026 (reported as derivative exercises/conversions, code M).
• To satisfy tax withholding on the net settlement, 121,322 shares were withheld by the issuer on March 16, 2026 at $7.86 per share, totaling $953,591 (reported under code F). The net number of shares delivered to David was approximately 103,553.

Key Details

• Transaction dates: conversions/vesting on 2026-03-15 (M); tax-withholding share withholding on 2026-03-16 (F).
• Price used for withholding: $7.86 per share; total withholding value $953,591.
• Shares acquired via conversion: 224,875; shares withheld for taxes: 121,322; net shares issued to insider: ~103,553.
• Footnotes of note: F1 = issuer withheld shares to satisfy tax withholding for a net RSU settlement; F3 = each RSU converts to one share; F4–F8 describe vesting schedules and that some awards vest quarterly or in full on March 15, 2026; F2 notes some reported securities are held by the reporting person’s spouse.
• Filing: Form 4 filed 2026-03-17 for a 2026-03-15 report date — appears to be timely (no late filing indicated).

Context

• This was a vesting/net-settlement of RSUs, not an open-market sale by the insider. The withholding (F) entry is a routine cashless/net settlement to cover tax liabilities and does not necessarily signal a buy or sell decision.
• Code explanation: M = exercise/conversion of derivative (here, RSUs converting to shares); F = shares withheld/used to pay exercise price or tax liability.