Melanie J. Tinto - 15 Mar 2024 Form 4 Insider Report for WEX Inc. (WEX)

Role
Chief Human Resources Officer
Signature
/s/ Timothy Bergeron, as attorney-in-fact for Melanie J. Tinto
Issuer symbol
WEX
Transactions as of
15 Mar 2024
Net transactions value
-$637,982
Form type
4
Filing time
19 Mar 2024, 21:05:49 UTC
Previous filing
27 Feb 2024
Next filing
01 Aug 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WEX Common Stock Options Exercise $0 +267 +4% $0.000000 6,874 15 Mar 2024 Direct F1
transaction WEX Common Stock Tax liability $27,840 -119 -1.7% $233.95 6,755 15 Mar 2024 Direct F2
transaction WEX Common Stock Options Exercise $0 +408 +6% $0.000000 7,163 15 Mar 2024 Direct
transaction WEX Common Stock Tax liability $42,345 -181 -2.5% $233.95 6,982 15 Mar 2024 Direct F2
transaction WEX Common Stock Options Exercise $0 +690 +9.9% $0.000000 7,672 15 Mar 2024 Direct
transaction WEX Common Stock Tax liability $71,823 -307 -4% $233.95 7,365 15 Mar 2024 Direct F2
transaction WEX Common Stock Options Exercise $0 +4,780 +65% $0.000000 12,145 15 Mar 2024 Direct
transaction WEX Common Stock Tax liability $495,974 -2,120 -17% $233.95 10,025 15 Mar 2024 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 -267 -100% $0.000000* 0 15 Mar 2024 Common Stock 267 $0.000000 Direct F3
transaction WEX Restricted Stock Units Options Exercise $0 -408 -50% $0.000000 410 15 Mar 2024 Common Stock 408 $0.000000 Direct F3
transaction WEX Restricted Stock Units Options Exercise $0 -690 -33% $0.000000 1,385 15 Mar 2024 Common Stock 690 $0.000000 Direct F3
transaction WEX Restricted Stock Units Options Exercise $0 -4,780 -100% $0.000000* 0 15 Mar 2024 Common Stock 4,780 $0.000000 Direct F3
transaction WEX Restricted Stock Units Award $0 +1,403 $0.000000 1,403 15 Mar 2024 Common Stock 1,403 $0.000000 Direct F4
transaction WEX Market Share Units Award $0 +1,403 $0.000000 1,403 15 Mar 2024 Common Stock 1,403 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Effective December 1, 2023, WEX eliminated WEX Inc. Common Stock as an investment alternative available under WEX's 401(k) plan. As a result, the plan liquidated the shares of WEX common stock it held, including 560 shares of WEX common stock the reporting person previously reported as beneficially owned under the plan.
F2 Represents tax withholding in connection with the vesting of the Restricted Stock Units ("RSUs") on March 15, 2024.
F3 Restricted Stock Units vested on March 15, 2024 and each RSU converted into one share of common stock.
F4 Restricted Stock Units ("RSUs") vest with respect to one-third of these shares on each one year anniversary of this grant.
F5 Each market share unit (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%. The target number of MSUs is reported in this Form 4.
F6 One-third of the MSU award will vest on each of the first, second and third anniversaries of the grant date and will be converted into shares of common stock based on a payout factor, provided that the MSUs will only vest if the payout factor is at least 60%, and if the payout factor is not at least 60% on an applicable vesting date MSUs eligible to vest on that date will be forfeited.