SEC Form 4 · accession 0001309108-17-000107
WEX Inc. · WEX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James Edward Pratt
Officer — SVP, GM Virtual Payments
Period of report
May 10, 2017
Accepted (ET)
May 12, 2017 · 8:08 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001309108
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | holding | — | — | — | 2,761 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F2 | $99.69 | May 10, 2017 | A | 52,281 | A | — | May 10, 2027 | Common Stock | 52,281 | 52,281 | D |
Explanation of responses
- F1Since the date of the reporting person's last ownership report, he transferred 1,337 shares to his former spouse pursuant to a domestic relations order. The reporting person is also obligated to deliver: (i) a portion of any currently held restricted stock units or performance stock units that vest in the future; and, (ii) a portion of the proceeds of stock option exercises. The reporting person no longer reports as beneficially owned any securities owned by his former spouse.
- F2The performance-based stock option (right to buy) vests upon the attainment of specified stock price hurdles beginning on the third anniversary of the Grant Date, being May 10, 2020, and ending on the fifth anniversary of the Grant Date, being May 10, 2022 ("Performance-Based NSOs"). Each stock price requirement is as follows: (a) 50% of the total award vests if the Company closing stock price is at least $149.53 for twenty consecutive trading days; (b) an additional 25% vests if the Company closing stock price is at least $174.45 for twenty consecutive trading days; and, (c) an additional 25% vests if the Company closing stock price is at least $199.38 for twenty consecutive trading days, in each instance so long at the reporting person remains employed with the company. If the respective stock price hurdles are not reached by the fifth anniversary of the grant date, being May 10, 2022, the option does not vest at all.