Schmidt Michael Reed 4

What Happened

• Michael R. Schmidt, a director of Wealthfront (WLTH), had 2,125 restricted stock units (RSUs) vest on March 15, 2026. The filing shows 2,125 shares acquired at $0.00 (conversion of the derivative) and a corresponding disposition of 2,125 RSU derivatives at $0.00 — i.e., the RSUs settled into 2,125 shares. These shares were part of an earlier RSU award of 34,014 units granted on September 26, 2025.
• This was a vesting/settlement of compensation (award conversion), not an open-market purchase or a sale for cash.

Key Details

• Transaction date: March 15, 2026. Filing date: March 17, 2026 (timely; Form 4 due within two business days).
• Reported amounts: 2,125 shares acquired at $0.00 (conversion) and 2,125 RSU derivatives disposed at $0.00; original grant: 34,014 RSUs on 2025-09-26.
• Shares owned after transaction: Not specified in the Form 4.
• Footnotes of note:
  • F1: Each RSU converts to one share on settlement.
  • F2: The award vests 1/16 quarterly (Mar/Jun/Sep/Dec 15), with the first tranche vesting March 15, 2026.
  • F3: These RSUs do not expire prior to vesting.
  • F4: The award was granted pre-IPO and the transaction is reported as an exempt transaction under Rule 16a-2(a); the award was previously reported on the reporting person's Form 3.
• No cash exchanged in the reported conversion; no sale price or tax-withholding details were disclosed in this filing.

Context

• For retail investors: this is routine director compensation vesting — RSUs converting into common shares — and does not in itself indicate a buy or sell decision by the insider. The filing shows conversion of a derivative (RSU) into underlying shares rather than an open-market transaction.