Wealthfront Director Michael Reed Schmidt Converts 2,126 RSUs

What Happened

• Michael Reed Schmidt, a director of Wealthfront Corp (WLTH), had 2,126 derivative units converted/settled on 2026-09-15. The Form 4 shows an "exercise or conversion of derivative" (transaction code M): 2,126 shares acquired at $0.00 and a corresponding 2,126-derivative disposal at $0.00. This reflects RSUs settling into common stock rather than an open‑market purchase or sale, so no cash proceeds or outlay were reported.

Key Details

• Transaction date: 2026-09-15; Form 4 filed: 2026-09-17 (filed within the typical two-business-day window).
• Reported amounts/prices: 2,126 shares acquired @ $0.00; 2,126 derivative units disposed @ $0.00 (code M).
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1–F3 state these were restricted stock units (each convertible to one share on settlement), vesting is 1/16 of the award quarterly on Mar/Jun/Sep/Dec (first tranche vested 3/15/2026), and the RSUs do not expire prior to vesting.
• No indication of a sale, tax withholding, 10b5-1 plan, or lateness in filing in this Form 4.

Context

• This was a conversion/settlement of RSUs upon vesting — not a market sale or cash purchase. For retail investors, vesting conversions generally reflect scheduled equity compensation being settled and do not on their own indicate insider buying or selling sentiment.