XPEL (XPEL) director adds 1,596 shares through RSU vesting

Rhea-AI Filing Summary

XPEL, Inc. director Richard K. Crumly reported routine equity compensation activity. On September 16, 2025, December 16, 2025, and March 16, 2026, he exercised restricted stock units, converting 532 RSUs on each date into a total of 1,596 shares of common stock at a stated price of $0.00 per share. Following the latest transaction, he holds 5,334 common shares directly. Additional indirect holdings are reported as 316,912, 1,076,743, and 15,500 common shares held through entities and a spouse, with footnotes noting his status as a control person for certain LLCs and a disclaimer of beneficial ownership of his spouse’s shares. The RSUs were granted on June 16, 2025 under XPEL’s 2020 Equity Incentive Plan and vest in quarterly installments over one year.

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^*

Crumly Richard K.

(Last) (First) (Middle)

PO BOX 460633

(Street)

SAN ANTONIO TEXAS 78246-0633

(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)	4,270	D
Common Stock	12/16/2025		M		532	A	(1)	4,802	D
Common Stock	03/16/2026		M		532	A	(1)	5,334	D
Common Stock								316,912	I	See Footnotes(2)(3)
Common Stock								1,076,743	I	See Footnotes(2)(4)
Common Stock								15,500	I	See Footnotes(5)

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	(6)	(6)	Common Stock	532	$0	1,596	D
Restricted Stock Units	(1)	12/16/2025		M			532	(6)	(6)	Common Stock	532	$0	1,064	D
Restricted Stock Units	(1)	03/16/2026		M			532	(6)	(6)	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. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this filing shall not be deemed an admission that Mr. Crumly is or was, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of any equity securities in excess of his pecuniary interests.

3. Represents securities held by CARPE, LLC, of which Mr. Crumly is a control person.

4. Represents securities held by ADAMAS, LLC, of which Mr. Crumly is a control person.

5. Represents securities held by Mr. Crumly's spouse. Mr. Crumly disclaims beneficial ownership of such securities.

6. 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/ Richard K. Crumly	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 Richard K. Crumly report for XPEL (XPEL)?

Richard K. Crumly reported exercising restricted stock units into common stock, acquiring 532 shares on each of three dates. These derivative exercises converted RSUs at a stated price of $0.00 per share as part of his equity compensation, not open-market purchases.

How many XPEL shares did Richard K. Crumly acquire through RSU exercises?

He acquired 1,596 XPEL common shares in total, converting 532 restricted stock units on each of three vesting dates. These transactions reflect the settlement of previously granted RSUs into stock at a stated price of $0.00 per share.

What are Richard K. Crumly’s direct XPEL share holdings after these transactions?

After the most recent RSU exercise, Richard K. Crumly directly holds 5,334 XPEL common shares. This direct ownership figure reflects the addition of 532 newly issued shares from the March 16, 2026 restricted stock unit conversion.

Does Richard K. Crumly have indirect ownership of XPEL shares?

Yes. Indirect holdings reported include 316,912, 1,076,743, and 15,500 XPEL common shares. Footnotes state some shares are held by CARPE, LLC and ADAMAS, LLC, where he is a control person, and by his spouse, whose shares he disclaims beneficial ownership of.

Were Richard K. Crumly’s XPEL transactions open-market purchases or compensation-related?

They were compensation-related exercises of restricted stock units, not open-market purchases. Each RSU represented a contingent right to receive one XPEL common share, which was delivered upon vesting and exercise at a stated price of $0.00 per share.

What are the vesting terms of Richard K. Crumly’s XPEL restricted stock units?

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 reported conversion dates.