Jagtar Narula - Mar 15, 2024 Form 4 Insider Report for WEX Inc. (WEX)

Role: Chief Financial Officer
Signature: /s/ Timothy Bergeron, as Attorney-in-Fact for Jagtar Narula
Stock symbol: WEX
Transactions as of: Mar 15, 2024
Transactions value $: -$705,125
Form type: 4
Date filed: 3/19/2024, 09:06 PM
Previous filing: Mar 7, 2024
Next filing: Mar 21, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	WEX	Common Stock	Options Exercise	$0	+882	+50.14%	$0.00	2.64K	Mar 15, 2024	Direct
transaction	WEX	Common Stock	Tax liability	-$60.6K	-259	-9.81%	$233.95	2.38K	Mar 15, 2024	Direct	F1
transaction	WEX	Common Stock	Options Exercise	$0	+6.21K	+260.71%	$0.00	8.59K	Mar 15, 2024	Direct
transaction	WEX	Common Stock	Tax liability	-$645K	-2.76K	-32.06%	$233.95	5.84K	Mar 15, 2024	Direct	F1

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	-882	-33.27%	$0.00	1.77K	Mar 15, 2024	Common Stock	882	$0.00	Direct	F2
transaction	WEX	Restricted Stock Units	Options Exercise	$0	-6.21K	-100%	$0.00^*	0	Mar 15, 2024	Common Stock	6.21K	$0.00	Direct	F2
transaction	WEX	Restricted Stock Units	Award	$0	+2.58K		$0.00	2.58K	Mar 15, 2024	Common Stock	2.58K	$0.00	Direct	F3
transaction	WEX	Market Share Units	Award	$0	+2.58K		$0.00	2.58K	Mar 15, 2024	Common Stock	2.58K		Direct	F4, F5

* 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, 2024.
F2	Restricted Stock Units vested on March 15, 2024 and each RSU converted into one share of common stock
F3	Restricted Stock Units ("RSUs") vest with respect to one-third of these shares on each one year anniversary of this grant.
F4	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.
F5	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.