Jeffrey Westphal - Oct 26, 2022 Form 4 Insider Report for Vertex, Inc. (VERX)

Role: 10%+ Owner
Signature: /s/ Jeffrey Westphal
Stock symbol: VERX
Transactions as of: Oct 26, 2022
Transactions value $: -$5,887,500
Form type: 4
Date filed: 10/26/2022, 05:46 PM
Previous filing: Aug 2, 2022
Next filing: Nov 3, 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VERX	Class A Common Stock	Exercise of in-the-money or at-the-money derivative security	-$5.89M	-750K	-6.64%	$7.85	10.6M	Oct 26, 2022	By The 2009 Jeffrey R. Westphal Generation Skipping Trust	F1
holding	VERX	Class A Common Stock						1.35M	Oct 26, 2022	See Footnote	F2
holding	VERX	Class A Common Stock						7.9K	Oct 26, 2022	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	VERX	Call Option (Obligation to Sell)	Exercise of in-the-money or at-the-money derivative security	$0	-750K	-100%	$0.00^*	0	Oct 26, 2022	Class A Common Stock	750K	$7.85	By The 2009 Jeffrey R. Westphal Generation Skipping Trust	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	In connection with the privately negotiated sale of shares of Class A Common Stock reported in the Form 4 filed on August 2, 2022, the Reporting Person granted the buyer an option to purchase up to 750,000 additional shares of Class A Common Stock at a price of $7.85 per share. The buyer exercised this option and the shares were paid for and delivered on October 26, 2022.
F2	Represents shares held by The 2009 Jeffrey R. Westphal Generation-Skipping Sub-Trust for Jenifer R. Westphal (the "Sub-Trust"), of which the Reporting Person's spouse is trustee.