Sachin Dhawan - Mar 15, 2024 Form 4 Insider Report for WEX Inc. (WEX)

Role
Chief Technology Officer
Signature
/s/ Timothy Bergeron, as attorney-in-fact for Sachin Dhawan
Stock symbol
WEX
Transactions as of
Mar 15, 2024
Transactions value $
$0
Form type
4
Date filed
3/19/2024, 09:06 PM
Previous filing
Dec 19, 2023

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 Award $0 +2.26K $0.00 2.26K Mar 15, 2024 Common Stock 2.26K $0.00 Direct F1
transaction WEX Market Share Units Award $0 +2.26K $0.00 2.26K Mar 15, 2024 Common Stock 2.26K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted Stock Units ("RSUs") vest with respect to one-third of these shares on each one year anniversary of this grant.
F2 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.
F3 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.