0001309108-24-000088.txt : 20240319
0001309108-24-000088.hdr.sgml : 20240319
20240319210625
ACCESSION NUMBER: 0001309108-24-000088
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240315
FILED AS OF DATE: 20240319
DATE AS OF CHANGE: 20240319
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Dearborn Joel Alan JR
CENTRAL INDEX KEY: 0001724040
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-32426
FILM NUMBER: 24766048
MAIL ADDRESS:
STREET 1: C/O WEX INC.
STREET 2: 97 DARLING AVENUE
CITY: SOUTH PORTLAND
STATE: ME
ZIP: 04106
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: WEX Inc.
CENTRAL INDEX KEY: 0001309108
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389]
ORGANIZATION NAME: 07 Trade & Services
IRS NUMBER: 010526993
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 1 HANCOCK STREET
CITY: PORTLAND
STATE: ME
ZIP: 04101
BUSINESS PHONE: (207) 773-8171
MAIL ADDRESS:
STREET 1: 1 HANCOCK STREET
CITY: PORTLAND
STATE: ME
ZIP: 04101
FORMER COMPANY:
FORMER CONFORMED NAME: Wright Express CORP
DATE OF NAME CHANGE: 20041118
4
1
wk-form4_1710896775.xml
FORM 4
X0508
4
2024-03-15
0
0001309108
WEX Inc.
WEX
0001724040
Dearborn Joel Alan JR
1 HANCOCK ST.
PORTLAND
ME
04101
0
1
0
0
Chief Strategy Officer
0
Common Stock
2024-03-15
4
M
0
385
0
A
15488
D
Common Stock
2024-03-15
4
F
0
171
233.95
D
15317
D
Common Stock
2024-03-15
4
M
0
673
0
A
15990
D
Common Stock
2024-03-15
4
F
0
299
233.95
D
15691
D
Common Stock
2024-03-15
4
M
0
882
0
A
16573
D
Common Stock
2024-03-15
4
F
0
392
233.95
D
16181
D
Common Stock
2024-03-15
4
M
0
6904
0
A
23085
D
Common Stock
2024-03-15
4
F
0
3062
233.95
D
20023
D
Restricted Stock Units
0
2024-03-15
4
M
0
385
0
D
Common Stock
385
0
D
Restricted Stock Unit
0
2024-03-15
4
M
0
673
0
D
Common Stock
673
676
D
Restricted Stock Unit
0
2024-03-15
4
M
0
882
0
D
Common Stock
882
1769
D
Restricted Stock Units
0
2024-03-15
4
M
0
6904
0
D
Common Stock
6904
0
D
Restricted Stock Units
0
2024-03-15
4
A
0
1628
0
A
Common Stock
1628
1628
D
Market Share Units
2024-03-15
4
A
0
1628
0
A
Common Stock
1628
1628
D
Represents tax withholding in connection with the vesting of the Restricted Stock Units ("RSUs") on March 15, 2024.
Restricted Stock Units vested on March 15, 2024 and each RSU converted into one share of common stock.
Restricted Stock Units ("RSUs") vest with respect to one-third of these shares on each one year anniversary of this grant.
Each market share unit (MSU), a form of performance-based restricted stock 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 average of the closing price on the measurement date plus the nine prior trading days divided by the average stock price on the grant date (also a 10-day average) divided by the close price on the grant date. The minimum payout factor that must be achieved to earn a payout is 60% and the maximum payout factor is 200%. The target number of MSUs is reported in this Form 4.
One-third of the MSU award will vest on each of the first, second and third anniversaries of the grant date and will be converted into shares of common stock based on a payout factor, provided that the MSUs will only vest if the payout factor is at least 60%, and if the payout factor is not at least 60% on an applicable vesting date MSUs eligible to vest on that date will be forfeited.
/s/ Timothy Bergeron, as Attorney-in-Fact for Joel A. Dearborn
2024-03-19