John R. Schwab - Dec 18, 2023 Form 4 Insider Report for Vertex, Inc. (VERX)

Role
CHIEF FINANCIAL OFFICER
Signature
/s/ Lisa Coleman, Attorney-in-Fact
Stock symbol
VERX
Transactions as of
Dec 18, 2023
Transactions value $
-$546,363
Form type
4
Date filed
12/20/2023, 04:16 PM
Previous filing
May 17, 2023
Next filing
Feb 15, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VERX Class A Common Stock Options Exercise $118K +25K +107.22% $4.70* 48.3K Dec 18, 2023 Direct
transaction VERX Class A Common Stock Sale -$664K -25K -51.74% $26.55 23.3K Dec 18, 2023 Direct F1, 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 VERX Stock Option Options Exercise $0 -25K -5.66% $0.00 416K Dec 18, 2023 Class A Common Stock 25K $4.70 Direct 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 sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the Reporting Person on September 15, 2023.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $26.165 to $27.07, inclusive. The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
F3 This option became exercisable with respect to 50% of the shares on February 5, 2022, and will vest with respect to the remaining shares on February 5, 2025.