Papamichael Michael A 4

What Happened
Michael A. Papamichael, Chief Financial Officer of White Mountains Insurance Group Ltd. (WTM), was granted 500 restricted common shares on February 25, 2026. The Form 4 reports the acquisition at $0.00 per share (an award/grant), so no cash purchase was made. The award vests on January 1, 2029.

Key Details

• Transaction date: 2026-02-25 (Period of Report); Form 4 filed 2026-02-27.
• Transaction type/code: Award/Grant (A). Reported acquisition: 500 shares at $0.00.
• Vesting: These 500 shares vest on January 1, 2029 (footnote).
• Shares owned after transaction: Not specified in this filing.
• Timeliness: Filed two days after the transaction date (appears timely under the Form 4 two-business-day rule).

Context
Restricted share awards are a form of compensation subject to vesting conditions; they are not the same as an open-market purchase or sale and do not by themselves signal a buy/sell market view. For retail investors, purchases or open-market insider buys are usually more directly informative about insider sentiment than routine compensation grants.