OBERST STEPHEN J 4

What Happened

• Stephen J. Oberst, Executive Vice President of Old Republic International Corp. (ORI), had 3,679 restricted stock units (RSUs) convert into common shares on March 11, 2026. Of those, 1,078 shares were surrendered to cover tax withholding at $40.65 per share, yielding $43,821. Net newly received shares retained by Oberst from this vesting were 2,601 (3,679 vested minus 1,078 withheld).

Key Details

• Transaction date: March 11, 2026; Filing date: March 13, 2026 (timely).
• Vesting/conversion: 3,679 RSUs converted 1-for-1 into common shares (reported as derivative conversion, code M).
• Tax withholding: 1,078 shares surrendered to cover taxes at $40.65/share for $43,821 (code F).
• Net shares added to holdings from this vesting: 2,601.
• Holdings note: filing indicates 11,690 unvested Restricted Stock Awards remain (footnote F2). The RSUs were originally granted March 11, 2025 and vest in three equal annual installments starting March 11, 2026 (footnote F4).
• Footnotes: F1 = RSUs convert 1:1; F3 = share surrender to cover tax liability; F4 = grant and vesting schedule.
• No indication this was a market sale for investment purposes—the disposal was for tax withholding.

Context

• This was a routine RSU vesting event (award conversion) with shares withheld to pay taxes — not an open-market sale or purchase. The filing shows both the conversion of the derivative (RSUs) into shares and the withholding/surrender of a portion of those shares to meet tax obligations. Such withholding is common and generally reflects routine compensation tax withholding rather than a signal of insider sentiment.