Deshaies Robert Joseph 4
4 · WEX Inc. · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
WEX (WEX) COO Robert Deshaies Receives 15,121 Shares; Taxes Withheld
What Happened
- Robert Joseph Deshaies, Chief Operating Officer of WEX Inc., had awards vest on March 15, 2026 and converted restricted/share units into 15,121 shares of common stock. To satisfy tax withholding, WEX withheld 7,190 shares at $159.95 per share (total ≈ $1,150,041), leaving a net issuance to Deshaies of 7,931 shares. The filing shows conversion/exercise of derivative awards (code M) and share withholding for taxes (code F).
Key Details
- Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (timely).
- Gross shares converted/issued: 15,121 (sum of 1,175 + 693 + 12,759 + 494).
- Shares withheld for taxes: 7,190 (407 + 240 + 6,298 + 245) at $159.95/share; total withholding ≈ $1,150,041.
- Net new shares received by insider: 7,931.
- Transaction types: M = exercise/conversion of RSUs/MSUs; F = shares withheld to pay tax liability.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Notable footnotes: RSUs converted 1:1 to shares; MSUs converted based on a performance payout factor (the second tranche of MSUs granted 3/15/2024 paid out at a 71.27% factor). One-third of RSUs and MSUs vest annually over three years; tax withholding was done via share retention by the company.
Context
- This is a routine vesting and tax-withholding event (not an open-market sale or purchase). The withholding effectively functions like a cashless sale of a portion of the vested award to cover taxes. Footnotes clarify the MSU payout rules (60% minimum to earn a payout; capped at 200%) and that the reported MSU tranche paid out at 71.27%.
Insider Transaction Report
Form 4
WEX Inc.WEX
Deshaies Robert Joseph
COO, Benefits
Transactions
- Exercise/Conversion
Common Stock
2026-03-15+1,175→ 16,034 total - Tax Payment
Common Stock
[F1]2026-03-15$159.95/sh−407$65,100→ 15,627 total - Exercise/Conversion
Common Stock
2026-03-15+693→ 16,320 total - Tax Payment
Common Stock
[F1]2026-03-15$159.95/sh−240$38,388→ 16,080 total - Exercise/Conversion
Common Stock
2026-03-15+12,759→ 28,839 total - Tax Payment
Common Stock
[F1]2026-03-15$159.95/sh−6,298$1,007,365→ 22,541 total - Exercise/Conversion
Common Stock
2026-03-15+494→ 23,035 total - Tax Payment
Common Stock
[F2]2026-03-15$159.95/sh−245$39,188→ 22,790 total - Exercise/Conversion
Restricted Stock Units
[F3][F4]2026-03-15−1,175→ 0 totalExercise: $0.00→ Common Stock (1,175 underlying) - Exercise/Conversion
Restricted Stock Units
[F3][F4]2026-03-15−693→ 696 totalExercise: $0.00→ Common Stock (693 underlying) - Exercise/Conversion
Restricted Stock Units
[F3][F5]2026-03-15−12,759→ 0 totalExercise: $0.00→ Common Stock (12,759 underlying) - Exercise/Conversion
Market Share Units
[F6][F7][F8]2026-03-15−494→ 894 total→ Common Stock (494 underlying)
Footnotes (8)
- [F1]Represents the number of shares automatically withheld by WEX for the payment of taxes in connection with the vesting of Restricted Stock Units ("RSUs") on March 15, 2026.
- [F2]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 15, 2026.
- [F3]RSUs vested on March 15, 2026 and each RSU converted into one share of common stock.
- [F4]One-third of RSUs vest each year on the first, second and third anniversaries of the date of grant.
- [F5]Following certification of performance relating to the award (as previously reported by the reporting person), the RSUs vested on March 15, 2026 and each converted into one share of common stock.
- [F6]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%.
- [F7]Represents the number of MSUs that vested in the second tranche of the MSU award granted on March 15, 2024, based on a 71.27% payout factor, and were converted into an equal number of shares of common stock.
- [F8]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.
Signature
/s/ Matthew Finkelstein as attorney-in-fact for Robert Joseph Deshaies|2026-03-17