XPEL (XPEL) director converts 1,596 RSUs into common shares in stages

Rhea-AI Filing Summary

XPEL, Inc. director John F. North reported routine equity compensation activity. On September 16, 2025, December 16, 2025, and March 16, 2026, he exercised restricted stock units (RSUs) in three separate tranches of 532 units each, converting them into 532 shares of common stock on each date at a price of $0.00 per share.

Across these transactions, he exercised a total of 1,596 RSUs into common stock and did not sell any shares. After the most recent transaction on March 16, 2026, he directly holds 9,743 shares of XPEL common stock and 532 RSUs. The footnotes explain that each RSU represents a right to receive one share of common stock and that these RSUs were granted on June 16, 2025 under the XPEL 2020 Equity Incentive Plan, vesting quarterly over one year through June 16, 2026.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

North John F

(Last) (First) (Middle)

711 BROADWAY ST

SUITE 320

(Street)

SAN ANTONIO TEXAS 78215

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
XPEL, Inc. [ XPEL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/16/2025		M		532	A	(1)	8,679	D
Common Stock	12/16/2025		M		532	A	(1)	9,211	D
Common Stock	03/16/2026		M		532	A	(1)	9,743	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	09/16/2025		M			532	(2)	(2)	Common Stock	532	$0	1,596	D
Restricted Stock Units	(1)	12/16/2025		M			532	(2)	(2)	Common Stock	532	$0	1,064	D
Restricted Stock Units	(1)	03/16/2026		M			532	(2)	(2)	Common Stock	532	$0	532	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of XPEL common stock.

2. The RSUs were granted on June 16, 2025 pursuant to the XPEL 2020 Equity Incentive Plan approved by the Board of Directors and stockholders and will vest in quarterly installments over a one year period with a final vesting date of June 16, 2026.

Remarks:

	/s/ Barry R. Wood, XPEL Senior Vice President/CFO (Attorney-in-Fact)	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did XPEL (XPEL) report for John F. North?

XPEL director John F. North exercised restricted stock units in three tranches of 532 units each, converting them into 532 common shares per tranche. These transactions are equity compensation-related exercises, not open-market purchases or sales.

Did the XPEL (XPEL) director buy or sell any shares on the open market?

No open-market trades were reported. The Form 4 shows only option-style RSU exercises at $0.00 per share, converting RSUs into common stock. There were no reported sales or cash purchases in the disclosed transactions.

How many XPEL (XPEL) shares does John F. North hold after these transactions?

Following the March 16, 2026 transaction, John F. North directly holds 9,743 shares of XPEL common stock. He also has 532 restricted stock units remaining, each representing a contingent right to receive one additional share of common stock.

What is the total number of XPEL (XPEL) RSUs exercised by the director?

Across the reported dates, the director exercised 1,596 restricted stock units into common stock. This reflects three separate exercises of 532 RSUs each, with each RSU converting into one share of XPEL common stock at $0.00 per share.

When were the XPEL (XPEL) RSUs granted and how do they vest?

The RSUs were granted on June 16, 2025 under the XPEL 2020 Equity Incentive Plan. According to the footnotes, they vest in quarterly installments over one year, with a final vesting date of June 16, 2026, driving the periodic exercises shown.

Are the XPEL (XPEL) RSU exercises by the director compensation-related?

Yes. The Form 4 states that the RSUs were granted under the XPEL 2020 Equity Incentive Plan and vest over time. The reported transactions are exercise or conversion of derivative securities, typical of equity compensation rather than discretionary market trading.