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Pape Ryan

Disclosed activity across 1 company

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35881
SEC CIK
0001783948

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Reported relationships

Latest disclosed role at each company.

CompanyLast reported asReport datePublished
XPEL, Inc.XPEL · Entity 4771Director · President and CEOJune 19, 2026June 23, 2026

Disclosed balances

About these balances

Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.

XPEL, Inc.

Report date June 19, 2026 · Filed June 23, 2026

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeDirect1,087,570 Ending reported balance After 2026-06-19 transaction · row 4
4 source rows · reconciled sequence

Row 1 · 2026-06-19 · Exercise / conversion · Acquired 1,990 · Balance 1,085,766

F1: Each restricted stock unit ("RSU") represents a contingent right to receive one share of XPEL common stock.

Row 2 · 2026-06-19 · Tax withholding · Disposed 485 · Balance 1,085,281

Row 3 · 2026-06-19 · Grant · Acquired 3,026 · Balance 1,088,307

F2: Represents performance-based restricted stock units (PSUs). Each PSU represents a contingent right to receive one share of the Issuer's common stock. The PSUs were originally granted to the Reporting Person on June 19, 2023, and are eligible to vest only upon the achievement of company performance objectives. The PSUs reflected in this row represent the portion of the award that vested as a result of the achievement of the performance objectives.

Row 4 · 2026-06-19 · Tax withholding · Disposed 737 · Balance 1,087,570

Restricted Stock UnitsSEC Table II · derivative / convertible securityDirect1,991 Reported balance After 2026-06-19 transaction · row 5 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 5 · 2026-06-19 · Exercise / conversion · Disposed 1,990 · Balance 1,991

F1: Each restricted stock unit ("RSU") represents a contingent right to receive one share of XPEL common stock.

F3: On June 19, 2023, the Reporting Person was granted 7,962 RSUs pursuant to the XPEL 2020 Equity Incentive Plan which was approved by the Board of Directors and stockholders. Provided the reporting person remains in continuous service, RSUs vest annually in four equal installments beginning on the first anniversary of the grant.

Filing footnotes · ownership attribution and instrument terms

F1: Each restricted stock unit ("RSU") represents a contingent right to receive one share of XPEL common stock.

F2: Represents performance-based restricted stock units (PSUs). Each PSU represents a contingent right to receive one share of the Issuer's common stock. The PSUs were originally granted to the Reporting Person on June 19, 2023, and are eligible to vest only upon the achievement of company performance objectives. The PSUs reflected in this row represent the portion of the award that vested as a result of the achievement of the performance objectives.

F3: On June 19, 2023, the Reporting Person was granted 7,962 RSUs pursuant to the XPEL 2020 Equity Incentive Plan which was approved by the Board of Directors and stockholders. Provided the reporting person remains in continuous service, RSUs vest annually in four equal installments beginning on the first anniversary of the grant.

Transaction history

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Purchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”

The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.

Transaction dateCompanyActivity / securityShares / unitsReported priceReported valueDetails
July 28, 2021 Filed Jul 30, 2021 20:58 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 3,426 $84.27 $288,709.02
Disclosure

SEC source: 0001783948-21-000011 · wf-form4_162767871180695.xml · nonDerivative · entry 4

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,219,602

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 26, 2021.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $84.00 to $84.53, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (4) to this Form 4.

Read SEC document
July 28, 2021 Filed Jul 30, 2021 20:58 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 2,558 $85.61 $218,990.38
Disclosure

SEC source: 0001783948-21-000011 · wf-form4_162767871180695.xml · nonDerivative · entry 3

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,223,028

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 26, 2021.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $85.00 to $85.80, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

Read SEC document
July 28, 2021 Filed Jul 30, 2021 20:58 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 2,001 $86.30 $172,686.30
Disclosure

SEC source: 0001783948-21-000011 · wf-form4_162767871180695.xml · nonDerivative · entry 2

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,225,586

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 26, 2021.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $86.00 to $86.99, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

Read SEC document
July 28, 2021 Filed Jul 30, 2021 20:58 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 15 $87.07 $1,306.05
Disclosure

SEC source: 0001783948-21-000011 · wf-form4_162767871180695.xml · nonDerivative · entry 1

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,227,587

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 26, 2021.

Read SEC document
July 21, 2021 Filed Jul 23, 2021 21:10 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 1,308 $89.71 $117,340.68
Disclosure

SEC source: 0001783948-21-000009 · wf-form4_162707458432719.xml · nonDerivative · entry 5

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,227,602

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F6 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $89.31 to $89.98, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (6) to this Form 4.

Read SEC document
July 21, 2021 Filed Jul 23, 2021 21:10 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 400 $90.50 $36,200.00
Disclosure

SEC source: 0001783948-21-000009 · wf-form4_162707458432719.xml · nonDerivative · entry 4

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,228,910

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $90.29 to $90.71, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (5) to this Form 4.

Read SEC document
July 21, 2021 Filed Jul 23, 2021 21:10 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 1,242 $91.69 $113,878.98
Disclosure

SEC source: 0001783948-21-000009 · wf-form4_162707458432719.xml · nonDerivative · entry 3

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,229,310

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $91.33 to $91.96, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (4) to this Form 4.

Read SEC document
July 21, 2021 Filed Jul 23, 2021 21:10 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 1,680 $92.47 $155,349.60
Disclosure

SEC source: 0001783948-21-000009 · wf-form4_162707458432719.xml · nonDerivative · entry 2

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,230,552

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $92.05 to $92.86, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

Read SEC document
July 21, 2021 Filed Jul 23, 2021 21:10 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 3,370 $93.18 $314,016.60
Disclosure

SEC source: 0001783948-21-000009 · wf-form4_162707458432719.xml · nonDerivative · entry 1

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,232,232

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $93.02 to $93.53, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

Read SEC document
July 15, 2021 Filed Aug 16, 2022 20:32 UTC XPEL, Inc. XPEL · Entity 4771 GrantRestricted Stock Units · Derivative 4,157 $0.00 $0.00
Disclosure

SEC source: 0001783948-22-000002 · wf-form4_166068196112977.xml · derivative · entry 3

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,157

Underlying: Common Stock · 4,157 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of XPEL common stock.

F3 · derivative.exercise_date: On July 15, 2021, the Reporting Person was granted 4,157 RSUs pursuant to the XPEL 2020 Equity Incentive Plan which was approved by the Board of Directors and stockholders. Provided the reporting person remains in continuous service, RSUs vest annually in four equal installments beginning on the first anniversary of the grant.

F3 · derivative.expiration_date: On July 15, 2021, the Reporting Person was granted 4,157 RSUs pursuant to the XPEL 2020 Equity Incentive Plan which was approved by the Board of Directors and stockholders. Provided the reporting person remains in continuous service, RSUs vest annually in four equal installments beginning on the first anniversary of the grant.

Read SEC document
July 14, 2021 Filed Jul 16, 2021 21:25 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 1,300 $81.78 $106,314.00
Disclosure

SEC source: 0001783948-21-000006 · wf-form4_162647069939621.xml · nonDerivative · entry 10

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,235,602

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F10 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $81.37 to $81.98, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (10) to this Form 4.

Read SEC document
July 14, 2021 Filed Jul 16, 2021 21:25 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 1,605 $82.65 $132,653.25
Disclosure

SEC source: 0001783948-21-000006 · wf-form4_162647069939621.xml · nonDerivative · entry 9

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,236,902

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F9 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $82.26 to $82.93, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (9) to this Form 4.

Read SEC document
July 14, 2021 Filed Jul 16, 2021 21:25 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 548 $83.62 $45,823.76
Disclosure

SEC source: 0001783948-21-000006 · wf-form4_162647069939621.xml · nonDerivative · entry 8

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,238,507

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F8 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $83.56 to $83.90, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (8) to this Form 4.

Read SEC document
July 14, 2021 Filed Jul 16, 2021 21:25 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 1,003 $84.00 $84,252.00
Disclosure

SEC source: 0001783948-21-000006 · wf-form4_162647069939621.xml · nonDerivative · entry 7

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,239,055

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F7 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $84.00 to $84.01, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (7) to this Form 4.

Read SEC document
July 14, 2021 Filed Jul 16, 2021 21:25 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 600 $85.50 $51,300.00
Disclosure

SEC source: 0001783948-21-000006 · wf-form4_162647069939621.xml · nonDerivative · entry 6

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,240,058

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F6 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $85.48 to $85.53, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (6) to this Form 4.

Read SEC document
July 14, 2021 Filed Jul 16, 2021 21:25 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 396 $86.39 $34,210.44
Disclosure

SEC source: 0001783948-21-000006 · wf-form4_162647069939621.xml · nonDerivative · entry 5

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,240,658

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $86.34 to $86.52, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (5) to this Form 4.

Read SEC document
July 14, 2021 Filed Jul 16, 2021 21:25 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 1,000 $87.54 $87,540.00
Disclosure

SEC source: 0001783948-21-000006 · wf-form4_162647069939621.xml · nonDerivative · entry 4

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,241,054

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $87.17 to $87.95, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (4) to this Form 4.

Read SEC document
July 14, 2021 Filed Jul 16, 2021 21:25 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 313 $88.28 $27,631.64
Disclosure

SEC source: 0001783948-21-000006 · wf-form4_162647069939621.xml · nonDerivative · entry 3

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,242,054

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $88.28 to $88.32, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

Read SEC document
July 14, 2021 Filed Jul 16, 2021 21:25 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 900 $89.08 $80,172.00
Disclosure

SEC source: 0001783948-21-000006 · wf-form4_162647069939621.xml · nonDerivative · entry 2

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,242,367

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $89.01 to $89.23, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

Read SEC document
July 14, 2021 Filed Jul 16, 2021 21:25 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 335 $90.30 $30,250.50
Disclosure

SEC source: 0001783948-21-000006 · wf-form4_162647069939621.xml · nonDerivative · entry 1

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,243,267

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

Read SEC document
July 07, 2021 Filed Jul 9, 2021 21:13 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 3,508 $79.41 $278,570.28
Disclosure

SEC source: 0001783948-21-000004 · wf-form4_162586520501532.xml · nonDerivative · entry 5

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,243,602

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $79.10 to $79.92, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (5) to this Form 4.

Read SEC document
July 07, 2021 Filed Jul 9, 2021 21:13 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 3,611 $80.42 $290,396.62
Disclosure

SEC source: 0001783948-21-000004 · wf-form4_162586520501532.xml · nonDerivative · entry 4

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,247,110

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $80.02 to $80.90, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (4) to this Form 4.

Read SEC document
July 07, 2021 Filed Jul 9, 2021 21:13 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 300 $81.81 $24,543.00
Disclosure

SEC source: 0001783948-21-000004 · wf-form4_162586520501532.xml · nonDerivative · entry 3

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,250,721

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $81.75 to $81.86 inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

Read SEC document
July 07, 2021 Filed Jul 9, 2021 21:13 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 200 $82.07 $16,414.00
Disclosure

SEC source: 0001783948-21-000004 · wf-form4_162586520501532.xml · nonDerivative · entry 2

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,251,021

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $82.04 to $82.09, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

Read SEC document
July 07, 2021 Filed Jul 9, 2021 21:13 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 381 $83.30 $31,737.30
Disclosure

SEC source: 0001783948-21-000004 · wf-form4_162586520501532.xml · nonDerivative · entry 1

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,251,221

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 7, 2021.

Read SEC document
June 30, 2021 Filed Jul 2, 2021 21:02 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 5,400 $83.68 $451,872.00
Disclosure

SEC source: 0001783948-21-000002 · wf-form4_162525975046948.xml · nonDerivative · entry 2

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,251,602

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 26, 2021.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $83.16 to $83.99, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

Read SEC document
June 30, 2021 Filed Jul 2, 2021 21:02 UTC XPEL, Inc. XPEL · Entity 4771 SaleCommon Stock 2,600 $84.19 $218,894.00
Disclosure

SEC source: 0001783948-21-000002 · wf-form4_162525975046948.xml · nonDerivative · entry 1

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,257,002

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 26, 2021.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $84.00 to $84.57, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

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November 02, 2020 Filed Nov 4, 2020 21:29 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 1,819 $24.95 $45,384.05
Disclosure

SEC source: 0001783948-20-000017 · wf-form4_160452531382782.xml · nonDerivative · entry 2

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,259,602

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.78 to 24.98, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

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November 02, 2020 Filed Nov 4, 2020 21:29 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 6,181 $25.26 $156,132.06
Disclosure

SEC source: 0001783948-20-000017 · wf-form4_160452531382782.xml · nonDerivative · entry 1

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,261,421

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.01 to 25.42, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

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October 26, 2020 Filed Oct 28, 2020 20:19 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 1,960 $25.83 $50,626.80
Disclosure

SEC source: 0001783948-20-000015 · wf-form4_160391636207243.xml · nonDerivative · entry 2

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,267,602

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.60 to $25.96, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

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October 26, 2020 Filed Oct 28, 2020 20:19 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 6,040 $26.46 $159,818.40
Disclosure

SEC source: 0001783948-20-000015 · wf-form4_160391636207243.xml · nonDerivative · entry 1

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,269,562

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.00 to $26.69, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

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October 19, 2020 Filed Oct 20, 2020 20:14 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 4,871 $26.82 $130,640.22
Disclosure

SEC source: 0001783948-20-000012 · wf-form4_160322484052068.xml · nonDerivative · entry 2

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,275,602

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.63 to $26.99, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

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October 19, 2020 Filed Oct 20, 2020 20:14 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 3,129 $27.16 $84,983.64
Disclosure

SEC source: 0001783948-20-000012 · wf-form4_160322484052068.xml · nonDerivative · entry 1

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,280,473

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.00 to $27.58, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

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October 12, 2020 Filed Oct 13, 2020 20:40 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 7,425 $27.68 $205,524.00
Disclosure

SEC source: 0001783948-20-000010 · wf-form4_160262162478274.xml · nonDerivative · entry 2

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,283,602

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.47 to $27.95, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

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October 12, 2020 Filed Oct 13, 2020 20:40 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 575 $28.04 $16,123.00
Disclosure

SEC source: 0001783948-20-000010 · wf-form4_160262162478274.xml · nonDerivative · entry 1

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,291,027

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.00 to $28.16, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

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October 05, 2020 Filed Oct 7, 2020 21:39 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 4,663 $25.51 $118,953.13
Disclosure

SEC source: 0001783948-20-000008 · wf-form4_160210672399538.xml · nonDerivative · entry 3

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,291,602

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.10 to $25.80, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (4) to this Form 4.

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October 05, 2020 Filed Oct 7, 2020 21:39 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 3,038 $26.21 $79,625.98
Disclosure

SEC source: 0001783948-20-000008 · wf-form4_160210672399538.xml · nonDerivative · entry 2

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,296,265

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.00 to $26.97, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

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October 05, 2020 Filed Oct 7, 2020 21:39 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 299 $27.32 $8,168.68
Disclosure

SEC source: 0001783948-20-000008 · wf-form4_160210672399538.xml · nonDerivative · entry 1

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,299,303

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.32 to $27.33, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

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September 28, 2020 Filed Sep 29, 2020 21:12 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 3,100 $23.77 $73,687.00
Disclosure

SEC source: 0001783948-20-000006 · wf-form4_160141391177600.xml · nonDerivative · entry 2

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,299,602

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $23.53 to $23.99, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

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September 28, 2020 Filed Sep 29, 2020 21:12 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 4,900 $24.15 $118,335.00
Disclosure

SEC source: 0001783948-20-000006 · wf-form4_160141391177600.xml · nonDerivative · entry 1

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,302,702

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.00 to $24.46, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

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September 21, 2020 Filed Sep 22, 2020 21:40 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 200 $22.90 $4,580.00
Disclosure

SEC source: 0001783948-20-000004 · wf-form4_160081078816677.xml · nonDerivative · entry 4

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,307,602

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

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September 21, 2020 Filed Sep 22, 2020 21:40 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 5,151 $23.45 $120,790.95
Disclosure

SEC source: 0001783948-20-000004 · wf-form4_160081078816677.xml · nonDerivative · entry 3

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,307,802

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $23.03 to $23.69, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (4) to this Form 4.

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September 21, 2020 Filed Sep 22, 2020 21:40 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 2,253 $24.78 $55,829.34
Disclosure

SEC source: 0001783948-20-000004 · wf-form4_160081078816677.xml · nonDerivative · entry 2

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,312,953

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.07 to $24.98, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

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September 21, 2020 Filed Sep 22, 2020 21:40 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 396 $25.23 $9,991.08
Disclosure

SEC source: 0001783948-20-000004 · wf-form4_160081078816677.xml · nonDerivative · entry 1

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,315,206

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.06 to $25.50, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

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September 17, 2020 Filed Sep 18, 2020 21:05 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 1,067 $27.05 $28,862.35
Disclosure

SEC source: 0001783948-20-000002 · wf-form4_160046308888406.xml · nonDerivative · entry 3

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,315,602

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.02 to $27.13, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (4) to this Form 4.

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September 17, 2020 Filed Sep 18, 2020 21:05 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 3,290 $26.44 $86,987.60
Disclosure

SEC source: 0001783948-20-000002 · wf-form4_160046308888406.xml · nonDerivative · entry 2

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,316,669

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.03 to $26.85, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

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September 17, 2020 Filed Sep 18, 2020 21:05 UTC XPEL, Inc. XPEL, INC. · Entity 4771 SaleCommon Stock 3,643 $25.81 $94,025.83
Disclosure

SEC source: 0001783948-20-000002 · wf-form4_160046308888406.xml · nonDerivative · entry 1

Pape Ryan · CIK 0001783948 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,319,959

F1 · kind: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2020.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.61 to $25.97, inclusive. The reporting person undertakes to provide to XPEL, Inc., any security holder of XPEL, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

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Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.