Form 4: Vertex Inc. Director Westphal Reports Large Transaction Involving Class A and B Common Stock

Director Jeffrey Westphal reports a transaction involving the conversion of 2,500,000 shares of Class B Common Stock into Class A Common Stock and adjustments to beneficial ownership.

Summary

• On April 30, 2024, Jeffrey Westphal, a director of Vertex, Inc., engaged in a transaction involving the company's Class A and Class B Common Stock.
• The transaction involved the conversion of 2,500,000 shares of Class B Common Stock into Class A Common Stock.
• Following the transaction, Westphal directly owns 7,895 shares of Class A Common Stock.
• Westphal indirectly owns 4,054,641 shares of Class A Common Stock through The 2009 Jeffrey R. Westphal Generation Skipping Trust.
• Westphal indirectly owns 6,749,286.237 shares of Class B Common Stock through The 2009 Jeffrey R. Westphal Generation Skipping Trust.
• Westphal indirectly owns 1,153,756 shares of Class B Common Stock through the Rainer J. Westphal 2007 Separate Exempt Trust FBO Jeffrey Westphal.
• Westphal indirectly owns 332,244 shares of Class B Common Stock through the Rainer J. Westphal 2007 Separate Non-Exempt Trust FBO Jeffrey Westphal.
• The Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock and has no expiration date.
• The Class B Common Stock will automatically convert into shares of Class A Common Stock on a one-to-one basis upon transfer or if the voting power of the Class B Common Stock falls below 10% of the combined voting power.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company insiders.

Stakeholder Impact

• The transaction may have a minor impact on shareholders due to the conversion of Class B shares to Class A shares, potentially affecting voting power.

Key Dates