Melissa D. Smith - Jan 22, 2024 Form 4 Insider Report for WEX Inc. (WEX)

Role
Chair, CEO, and President, Director
Signature
/s/ Timothy Bergeron, as attorney-in-fact for Melissa D. Smith
Stock symbol
WEX
Transactions as of
Jan 22, 2024
Transactions value $
-$4,328,978
Form type
4
Date filed
1/24/2024, 05:54 PM
Previous filing
Oct 30, 2023
Next filing
Feb 21, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WEX Common Stock Options Exercise $4.1M +41.1K +50.13% $99.69 123K Jan 22, 2024 Direct
transaction WEX Common Stock Sale -$8.43M -41.1K -33.39% $205.00 82K Jan 22, 2024 Direct F1
holding WEX Common Stock 18.3K Jan 22, 2024 By husband
holding WEX Common Stock 1.69K Jan 22, 2024 FBC Irrevocable Trust F2
holding WEX Common Stock 1.69K Jan 22, 2024 BDC Irrevocable Trust F2
holding WEX Common Stock 1.69K Jan 22, 2024 GMC Irrevocable Trust 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 Stock Option (right to buy) Options Exercise $0 -41.1K -89.31% $0.00 4.92K Jan 22, 2024 Common Stock 41.1K $99.69 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The reported exercising of 41,107 options and subsequent sale of 41,107 shares occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 2, 2023.
F2 This trust was first described in a Form 4 filed by the reporting person on 06/28/2022.
F3 Half of the performance-based non-statutory stock options ("Performance-Based NSOs"), reported on the Reporting Person's Form 4 dated May 12, 2017 (the "Original Form 4"), vested on June 26, 2020 when the Company's closing stock price was at least $149.54 for twenty consecutive trading days. Another quarter of the Performance-Based NSOs vested on December 29, 2020 when the Company's closing stock price was at least $174.45 for twenty consecutive trading days. The last remaining quarter of the Performance-Based NSOs vested on March 8, 2021 when the Company's closing stock price was at least $199.38 for twenty consecutive trading days. Please reference the Original Form 4 for further information regarding the vesting of the Performance-Based NSOs.