WEX (NYSE: WEX) CEO converts 7,515 MSUs as 3,333 shares withheld for tax
Rhea-AI Filing Summary
WEX Inc. Chair, CEO, and President Melissa D. Smith reported compensation-related equity activity, mainly the vesting and conversion of performance-based Market Share Units (MSUs). On March 17, 2026, 7,515 MSUs from a March 17, 2025 award vested at a 105.38% payout factor and converted into 7,515 shares of common stock. To cover associated taxes, 3,333 shares were automatically withheld by WEX at $156.79 per share rather than sold on the open market.
On March 16, 2026, Smith also received a new MSU grant covering a target of 21,570 shares, which will vest in three equal annual tranches, subject to a payout factor that can range from 60% to 200%. After these transactions, she holds 111,816 common shares directly, along with additional indirect holdings, including 18,277 shares held by her husband and 42,274 shares in a 2025 trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Market Share Units | 7,515 | $0.00 | -- |
| Exercise | Common Stock | 7,515 | $0.00 | -- |
| Tax Withholding | Common Stock | 3,333 | $156.79 | $523K |
| Grant/Award | Market Share Units | 21,570 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Represents the number of shares automatically withheld by WEX for the payment of taxes in connection with the vesting of Market Share Units ("MSUs") on March 17, 2026. This trust was first described in a Form 4 filed by the reporting person on 06/28/2022. This trust was first described in a Form 4 filed by the reporting person on 03/18/2025. This trust was first described in a Form 4 filed by the reporting person on 02/23/2026. Each MSU, a form of performance-based restricted share 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 volume weighted average closing price per share over the 10 trading days immediately preceding (and excluding) the vesting date divided by the volume weighted average closing price per share over the 10 trading days immediately preceding (and excluding) the grant date. The minimum payout factor that must be achieved to earn a payout is 60% and the maximum payout factor is 200%. Represents the number of MSUs that vested in the first tranche of the MSU award granted on March 17, 2025, based on a 105.38% payout factor, and were converted into an equal number of shares of common stock. One-third of the MSU award vests on each of the first, second and third anniversaries of the date of grant and converts into shares of common stock based on a payout factor, provided that if the payout factor is not at least 60% on an applicable vesting date, the MSUs eligible to vest on such date will be forfeited. Represents the target number of shares underlying the MSU award granted on March 16, 2026.
