2020 IRREVOCABLE TRUST FOR BENEFIT OF NICHOLAS A. SHUHAN - 04 Oct 2023 Form 4 Insider Report for Vertex, Inc. (VERX)

Role: 13(D) GROUP MEMBER, 10%+ Owner
Signature: /s/ Joshua Levine, as Trustee
Issuer symbol: VERX
Transactions as of: 04 Oct 2023
Net transactions value: $0
Form type: 4
Filing time: 25 Oct 2023, 18:59:52 UTC
Next filing: 05 Mar 2024
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	Conversion of derivative security	$0	+281,452		$0.000000	281,452	04 Oct 2023	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	Class B Common Stock	Conversion of derivative security	$0	-281,452	-100%	$0.000000^*	0	04 Oct 2023	Class A Common Stock	281,452		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The Class B Common Stock is convertible at any time at the option of the holder into one share of the Issuer's Class A Common Stock and has no expiration date. The Class B Common Stock will automatically convert into shares of the Issuer's Class A Common Stock on a one-to-one basis upon either (1) any transfer of the Class B Common Stock by the holder, whether or not for value, subject to certain exceptions or (2) the voting power of the Issuer's outstanding Class B Common Stock representing less than 10% of the combined voting power of all of the Issuer's outstanding common stock.
F2	The Form 3 originally filed by the reporting person understated the number of shares of Class B Common Stock by approximately 18,000 shares. This Form 4 reflects the corrected number of shares.

Content

The Class B Common Stock is convertible at any time at the option of the holder into one share of the Issuer's Class A Common Stock and has no expiration date. The Class B Common Stock will automatically convert into shares of the Issuer's Class A Common Stock on a one-to-one basis upon either (1) any transfer of the Class B Common Stock by the holder, whether or not for value, subject to certain exceptions or (2) the voting power of the Issuer's outstanding Class B Common Stock representing less than 10% of the combined voting power of all of the Issuer's outstanding common stock.

The Form 3 originally filed by the reporting person understated the number of shares of Class B Common Stock by approximately 18,000 shares. This Form 4 reflects the corrected number of shares.