ITEM SECOND IRR. TRUST FBO JACOB J. WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 2001

10% owner sells 150,000 shares for $7.8M across 3 trades (blended avg $52.00); retains 782.7K shares post-sale

Jeffrey R. Westphal (trustee for ITEM SECOND IRR. TRUST FBO JACOB J. WESTPHAL), a 10% owner of Vertex, Inc., executed 3 separate sales totaling 150,000 shares for $7,799,979.94 at prices ranging from $49.50 to $52.32 between 2024-11-07 and 2024-11-11. The sale represents -16.1% of his pre-transaction holdings, leaving him with 782.7K shares. The transaction occurred in a near-term context: his five prior trades at VERX (all sales on 2024-10-08 through 2024-10-14) showed positive 30-day returns ranging from +24.2% to +30.9%, yet his cross-ticker track record shows a 90-day well-timed rate of 7.14% on 20 prior sells, with average 90-day return of +8.7%—indicating his historical sells have been poorly timed at the 90-day mark. Company fundamentals show revenue of $170,435,000.00 (latest quarter) and annual revenue growth of +16.4%, but the company was unprofitable over its most recent full fiscal year and carries a P/E of 43.26. The stock is currently at $49.75, down 4.3% from the 52-week high of $51.99, yet up 23.3% over 30 days and +37.3% over 90 days.

10% owner Jeffrey Westphal trust sold 135,146 shares for $5,462,273.63 in 3 sales Oct 10–14 at avg $40.42

The ITEM SECOND IRR. TRUST FBO JACOB J. WESTPHAL u/a of JEFFREY R. WESTPHAL executed 3 separate sales totaling 135,146 shares for $5,462,273.63 over Oct 10–14, 2024, reducing holdings from 1,067,852 to 932,706 shares (-12.7%). The sales occurred as the stock traded near its 52-week high of $41.60 (current price $41.26 is -0.8% from that high), following a +13.8% move over the prior 30 days. Cross-ticker, the insider's prior 20 sells averaged +8.7% 90-day returns with a 5.88% well-timed rate; at VERX specifically, the 2 measurable prior sells (March 2024) both posted positive 90-day returns (+17.4% each), indicating poorly-timed exits on both occasions. The company trades at a P/E of 55.01 on revenue growth of +16.4% year-over-year, but was unprofitable on a full-year net-income basis. No FLAG notation indicates this transaction is not governed by a 10b5-1 plan; however, the immediate prior sells on Oct 7, 8, and 9 (outcomes not yet measurable) suggest an active liquidation series rather than a singular event. The pattern merits monitoring for whether this marks sustained position reduction by a major shareholder.

10% owner ITEM SECOND IRR. TRUST FBO JACOB J. WESTPHAL sold 129,854 shares for $5,349,348.31 across 3 transactions

ITEM SECOND IRR. TRUST FBO JACOB J. WESTPHAL, a 10% shareholder, executed 3 separate sales totaling 129,854 shares for $5,349,348.31 (blended average $41.20) over October 7–9, 2024, reducing holdings by 10.8% to 1,067,852 shares. The sales came near the 52-week high of $41.60, with the stock at $41.03 currently and up 14.2% over 30 days and 12.1% over 90 days. The insider's cross-ticker track record shows a 90-day well-timed rate of 15.00% across 20 prior sells (primarily poorly timed, as the stock rose after sales); at VERX specifically, 0 of 5 prior sells in 2024 were well-timed at the 90-day mark, all showing positive 90-day returns. The company trades at a P/E of 54.71 with 16.4% annual revenue growth but was unprofitable over the most recent full fiscal year, creating a valuation-growth mismatch. The concentration of selling near recent highs, combined with persistent poor timing outcomes at this ticker and the company's negative full-year profitability, merits investor scrutiny of the insider's sentiment toward near-term prospects.