Chen Minlei 4

What Happened

• Chen Minlei, Chief Actuary and Senior VP of Kingstone Companies (KINS), exercised options (transaction code M) to acquire 3,334 common shares at an exercise price of $2.25 per share, for a reported total cost of $7,502. The filing also reports a disposition/conversion of 3,334 shares at $0.00 (listed as a derivative transaction).

Key Details

• Transaction date: January 26, 2025
• Exercise: 3,334 shares @ $2.25 (Acquired) — $7,502 total
• Derivative conversion/disposition: 3,334 shares @ $0.00 (Disposed)
• Transaction code: M (option exercise/conversion)
• Shares owned after transaction: Not disclosed in the provided filing
• Footnote: Option vesting schedule — 3,334 shares vested January 5, 2025; 3,333 on January 5, 2026; 3,333 on January 5, 2027 (Footnote F1)
• Filing timeliness: Form filed March 16, 2026 for a January 26, 2025 transaction — the filing appears late

Context

• This was an option exercise (acquisition of shares via conversion of derivatives). The filing does not show an open-market sale or cash proceeds from a sale; the separate line reporting a 3,334-share disposition at $0.00 is recorded as a derivative conversion and does not show sale proceeds. Purchases (exercises that acquire shares) are often more informative to investors than routine sales, but the filing provides no explanation of subsequent share disposition or holdings.