Jagtar Narula - Mar 15, 2025 Form 4 Insider Report for WEX Inc. (WEX)

Signature
/s/ Matthew Finkelstein, as Attorney-in-Fact for Jagtar Narula
Stock symbol
WEX
Transactions as of
Mar 15, 2025
Transactions value $
-$935,326
Form type
4
Date filed
3/18/2025, 08:18 PM
Previous filing
Feb 24, 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WEX Common Stock Options Exercise $0 +883 +12.4% $0.00 8K Mar 15, 2025 Direct
transaction WEX Common Stock Tax liability -$60.4K -392 -4.9% $154.09 7.61K Mar 15, 2025 Direct F1
transaction WEX Common Stock Options Exercise $0 +860 +11.3% $0.00 8.47K Mar 15, 2025 Direct
transaction WEX Common Stock Tax liability -$58.9K -382 -4.51% $154.09 8.09K Mar 15, 2025 Direct F1
transaction WEX Common Stock Options Exercise $0 +12.2K +150.87% $0.00 20.3K Mar 15, 2025 Direct
transaction WEX Common Stock Tax liability -$790K -5.13K -25.26% $154.09 15.2K Mar 15, 2025 Direct F1
transaction WEX Common Stock Options Exercise $0 +579 +3.82% $0.00 15.7K Mar 15, 2025 Direct
transaction WEX Common Stock Tax liability -$26.2K -170 -1.08% $154.09 15.6K Mar 15, 2025 Direct F2

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 WEX Restricted Stock Units Options Exercise $0 -883 -49.92% $0.00 886 Mar 15, 2025 Common Stock 883 $0.00 Direct F3, F4
transaction WEX Restricted Stock Units Options Exercise $0 -860 -33.28% $0.00 1.72K Mar 15, 2025 Common Stock 860 $0.00 Direct F3, F4
transaction WEX Restricted Stock Units Options Exercise $0 -12.2K -100% $0.00 0 Mar 15, 2025 Common Stock 12.2K $0.00 Direct F3, F5
transaction WEX Market Share Units Options Exercise $0 -579 -25.15% $0.00 1.72K Mar 15, 2025 Common Stock 579 Direct F6, F7, F8
transaction WEX Restricted Stock Units Award $0 +3.8K $0.00 3.8K Mar 17, 2025 Common Stock 3.8K $0.00 Direct F4
transaction WEX Market Share Units Award $0 +3.8K $0.00 3.8K Mar 17, 2025 Common Stock 3.8K Direct F6, F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents tax withholding in connection with the vesting of the Restricted Stock Units ("RSUs") on March 15, 2025.
F2 Represents tax withholding in connection with the vesting of the Market Stock Units ("MSUs") on March 15, 2025.
F3 RSUs vested on March 15, 2025 and each RSU converted into one share of common stock.
F4 One-third of RSUs vest each year on the first, second and third anniversaries of the date of grant.
F5 Following certification of performance relating to this award (as previously reported by the reporting person), the RSUs vested on March 15, 2025 and each converted into one share of common stock.
F6 Each MSU, a form of performance-based restricted stock unit, converts into the number of shares of common stock determined by applying a payout factor to the target number of MSUs vesting on a given date. The payout factor is a ratio of the average of the closing price on the measurement date plus the nine prior trading days divided by the average stock price on the grant date (also a 10-day average) divided by the close price on the grant date. The minimum payout factor that must be achieved to earn a payout is 60% and the maximum payout factor is 200%.
F7 Represents the number of MSUs that vested in the first tranche of the MSU award granted on March 15, 2024, based on a 67.24% payout factor, and were converted into an equal number of shares of common stock.
F8 One-third of the MSU award vests on each of the first, second and third anniversaries of the grant date and converts into shares of common stock based on a payout factor, provided that if the payout factor is not at least 60% on an applicable vesting date, the MSUs eligible to vest on such date will be forfeited.
F9 Represents the target number of shares underlying the MSU award granted on March 17, 2025.