XPEL, Inc. — Director's Dealing 2024

May 24, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: XPEL, Inc. (XPEL)
CIK: 0001767258
Period of Report: 2024-05-24

Reporting Person: Crumly Richard K. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-05-24	Common Stock	M	280	—	Acquired	1618	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-05-24	Restricted Stock Units	$	M	280	Disposed		Common Stock (280)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	316912	Indirect
Common Stock	1076743	Indirect
Common Stock	15500	Indirect

Footnotes

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

F2: Represents securities held by CARPE, LLC, of which Mr. Crumly is a control person.

F3: Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this filing shall not be deemed an admission that Mr. Crumly is or was, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of any equity securities in excess of his pecuniary interests.

F4: Represents securities held by ADAMAS, LLC, of which Mr. Crumly is a control person.

F5: Represents securities held by Mr. Crumly's spouse. Mr. Crumly disclaims beneficial ownership of such securities.

F6: The RSUs were granted on May 24, 2023 pursuant to the XPEL 2020 Equity Incentive Plan approved by the Board of Directors and stockholders and vest as follows: One-fourth vested on August 24, 2023 with the remaining shares vesting in quarterly installments over a period of one year from the grant date, provided the reporting person remains in service to the Company.