SEC Filing Analysis: Western Union CO (WU)

Executive Summary

• Trading Significance: Medium
• Key Takeaway: CFO Matthew Cagwin filed an amendment to correct the share count on a significant compensation package involving nearly 700,000 underlying shares (RSUs and Options).
• Market Impact: Neutral. While the share count is substantial (0.22% of outstanding), this is non-cash compensation with long-term vesting, not an open market transaction.

Company Information

Field	Value
Company	Western Union CO
Ticker Symbol	WU
CIK	0001365135
Industry	Business Services

Insider Information

Field	Value
Name	Matthew Cagwin
CIK	0001654665
Title/Position	Chief Financial Officer
Relationship	Officer

Transaction Details

Field	Value
Form Type	4/A (Amendment)
Transaction Date	2026-03-02
Transaction Code	A (Grant/Award)
Security Type	Common Stock & Options
Shares Involved	697,740 (Total Underlying)
Price Per Share	$0.00
Total Value	$0 (Grant)
Shares Owned After	493,427 (Direct Common Stock)
Ownership Type	Direct

Financial Impact Assessment

Transaction Materiality

Metric	Value
Transaction Value	$0 (Compensation)
% of Market Cap	N/A
Shares Transacted	697,740
% of Shares Outstanding	0.22%
Post-Transaction Ownership	493,427 shares (0.16% of outstanding)
Materiality Assessment	Moderate

Impact Evaluation

• Market Cap Context: For a $3.02B market cap company, this equity package has a theoretical economic value of ~$6.6M (estimating based on strike price of $9.56), which is a significant retention package.
• Ownership Concentration: The insider holds a relatively small percentage of the total float (<1%), typical for non-founder CFOs.
• Dilution Impact: The grant represents 0.22% of total shares outstanding. While not immediately dilutive due to vesting, it contributes to the overhang.
• Transaction Significance: The filing is an amendment to correct a clerical error in a previous report, ensuring accurate transparency regarding the CFO's incentives.

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: This is a correction of a compensation filing (Form 4/A). Grants are standard operating procedure for executive retention and do not signal immediate buying pressure or insider sentiment in the same way open market purchases do.

Volume & Sentiment

• Expected Volume Impact: Negligible.
• Sentiment Indicator: Neutral. The long-term vesting schedules (2027-2030) align the CFO's interests with shareholders, which is standard positive governance.

Additional Context

Transaction Notes

• Timing: The original transaction date was March 2, 2026. This amendment was filed March 11, 2026.
• Special Circumstances: The filing corrects the number of RSUs reported on March 4 due to a clerical error. The package includes Performance-based RSUs (vesting 2029), Time-based RSUs (vesting 2027-2029), and Options (vesting 2027-2030).
• Vesting: The awards are subject to continued employment, serving as a