Chen Minlei 4/A

What Happened

• Chen Minlei, Chief Actuary and Senior VP of Kingstone (KINS), received restricted stock and exercised options on March 3, 2026. The filing shows an 8,624-share restricted stock grant (awarded at $0.00) and the exercise/conversion of option-related derivatives. Chen acquired 3,333 shares via exercise at $2.25 per share (total cash paid ≈ $7,499). Separately, 1,512 shares were withheld/disposed to cover withholding taxes (1,512 shares × $16.53 = $24,993). One derivative conversion line shows 3,333 shares at $0.00 (no cash value recorded).

Key Details

• Transaction date: March 3, 2026 (Form 4 amended and filed March 16, 2026).
• Reported items:
  • Award (A): 8,624 restricted shares granted @ $0.00 (value recorded $0).
  • Exercise/Conversion (M): 3,333 shares acquired @ $2.25 (cash ≈ $7,499).
  • Tax withholding (F): 1,512 shares withheld/disposed @ $16.53 (withholding value $24,993).
  • Additional derivative line (M): 3,333 shares reported @ $0.00 (no cash value).
• Shares owned after the transaction: Not disclosed in the provided filing.
• Footnotes of note:
  • F1/F3: Shares received as restricted stock; some shares were withheld to pay associated withholding taxes.
  • F2: Filing references 16,060 shares received pursuant to unvested restricted stock grants with a vesting schedule (3,333 on 6/18/2026; 6,520 on 3/3/2027; 3,333 on 6/18/2027; 2,874 on 3/3/2028).
  • F4: Option vesting schedule noted (3,333 shares vest/exercisable on each of Jan 5, 2026 and Jan 5, 2027).
• Filing status: This is an amended Form 4 filed on March 16 for transactions dated March 3 (13 days later), which is beyond the usual 2-business-day filing window for Form 4s.

Context

• This was not an open-market sale to monetize holdings; the activity reflects receiving restricted stock and exercising options, with a portion of shares withheld to cover taxes (a common, administrative cashless/withholding settlement). Many of the shares are unvested per the footnote schedule, so they remain subject to future vesting conditions. The amended and delayed filing is administrative but noteworthy for timeliness.