Wealthfront (WLTH) CEO David Fortunato Sells Shares After RSU Vest

What Happened

• David Fortunato, CEO, President and Director of Wealthfront (WLTH), had restricted stock units vest/convert (total 215,175 shares) and sold a portion in open-market trades. He sold 93,289 shares on 2026-09-15 (weighted avg $10.73, proceeds $1,001,028) and 28,914 shares on 2026-09-16 (weighted avg $10.19, proceeds $294,663). Total shares sold = 122,203 for combined proceeds of approximately $1,295,691.
• The conversion/exercise entries show $0.00 price because these were RSUs settling into common stock; subsequent sales were used to satisfy tax withholding and related obligations.

Key Details

• Transaction dates & prices:
  • 2026-09-15: RSUs converted — 76,463; 79,181; 59,531 shares (total 215,175) at $0.00 (acquired on vesting).
  • 2026-09-15: Sold 93,289 shares — reported weighted avg $10.73 (sales ranged $10.55–$10.88). Proceeds $1,001,028. (See footnote F2.)
  • 2026-09-16: Sold 28,914 shares — reported weighted avg $10.19 (sales ranged $9.96–$10.83). Proceeds $294,663. (See footnote F3.)
• Footnotes of note:
  • F1: Shares sold were to satisfy tax withholding from RSU vesting.
  • F2/F3: Reported prices are weighted averages; the filer can provide a breakdown of individual trade prices on request.
  • F5–F9: These holdings are RSUs (one RSU = one share on settlement) with quarterly vesting schedules described in the filing.
  • F4: Some reported securities are directly held by the reporting person's spouse.
• Shares owned after the transactions are not included in the excerpt provided.
• Filing: Report covers period 2026-09-15 and was filed 2026-09-17 (no indication in this excerpt of a late filing).

Context

• These transactions reflect RSU settlement and sales to cover tax obligations (a routine, cashless-type settlement), not an open-market purchase that would signal new insider conviction.
• For retail investors, sale-for-tax-withholding is common and typically not interpreted as a directional bet on the stock. The filing provides weighted-average sale prices and offers to disclose exact per-trade prices if requested.