Ryan Pape - Jul 15, 2023 Form 4 Insider Report for XPEL, Inc. (XPEL)

Role: President and CEO, Director
Signature: /s/ Babatunde Awodiran, XPEL General Counsel (Attorney-in-Fact)
Stock symbol: XPEL
Transactions as of: Jul 15, 2023
Transactions value $: -$20,901
Form type: 4
Date filed: 7/17/2023, 04:28 PM
Previous filing: Jun 20, 2023
Next filing: Aug 23, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	XPEL	Common Stock	Options Exercise		+1.04K	+0.09%		1.15M	Jul 15, 2023	Direct	F1
transaction	XPEL	Common Stock	Tax liability	-$20.9K	-252	-0.02%	$82.94	1.15M	Jul 15, 2023	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	XPEL	Restricted Stock Units	Options Exercise	$0	-1.04K	-33.32%	$0.00	2.08K	Jul 15, 2023	Common Stock	1.04K		Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive one share of XPEL common stock.
F2	The Company withheld 252 shares of common stock underlying the RSUs for payment of the tax withholdings, using the closing stock price on July 14, 2023 of $82.94, pursuant to the terms of the XPEL 2020 Equity Incentive Plan.
F3	On July 15, 2021, the Reporting Person was granted 4,157 RSUs pursuant to the XPEL 2020 Equity Incentive Plan which was approved by the Board of Directors and stockholders. Provided the reporting person remains in continuous service, RSUs vest annually in four equal installments beginning on the first anniversary of the grant.