CASALE MARK 4
4 · Essent Group Ltd. · Filed Feb 13, 2026
Research Summary
AI-generated summary of this filing
Essent (ESNT) CEO Mark Casale Receives $10.5M Stock Award
What Happened
Mark Casale, Essent Group Ltd. chairman, CEO and president, received equity awards on Feb 11, 2026 totaling 160,282 shares (137,384 shares and 22,898 derivative units) at a reported per-share value of $65.51. The awards are valued at about $10.5 million in total. On the same date he surrendered 7,239 shares and 455 derivative units to the issuer (reported at $0.00), which appear to be share dispositions to the company (commonly used for tax withholding). Net of those dispositions, the awards increase his position by 152,588 shares.
Key Details
- Transaction date: 2026-02-11; reported on Form 4 filed 2026-02-13 (timely filing).
- Grants: 137,384 restricted shares @ $65.51 = $9,000,026; 22,898 restricted/derivative units @ $65.51 = $1,500,048.
- Dispositions to issuer: 7,239 shares and 455 derivative units at $0.00 (likely tax withholding).
- Net new shares retained from these transactions: 152,588 (160,282 granted minus 7,694 surrendered).
- Shares owned after the transactions: not specified in the filing.
- Footnotes: awards include performance-based restricted shares tied to compounded annual book value growth and relative TSR over a three-year performance period (commencing Jan 1, 2026, vesting Mar 1, 2029), time-based vesting schedules, RSUs that convert one-for-one to common shares, and accrued dividend-equivalent rights that vest with the underlying awards.
Context
These filings reflect equity compensation grants (awards), not open-market purchases or sales. Performance-based and time-based restricted shares/units typically vest over multi-year schedules and may include dividend equivalents; surrendered shares to the issuer at $0.00 are commonly used to satisfy tax withholding and do not necessarily indicate a market sell signal.
Insider Transaction Report
- Award
Common shares, par value $0.015
[F1]2026-02-11$65.51/sh+137,384$9,000,026→ 2,328,078 total - Disposition to Issuer
Common shares, par value $0.015
2026-02-11−7,239→ 2,320,839 total - Award
Restricted share units
[F2][F3]2026-02-11$65.51/sh+22,898$1,500,048→ 22,898 total→ Common shares, par value $0.015 (22,898 underlying) - Disposition to Issuer
Dividend equivalent units
[F4]2026-02-11−455→ 24,827 total→ Common shares, par value $0.015 (455 underlying)
- 250,000(indirect: By Trust)
Common shares, par value $0.015
Footnotes (4)
- [F1]Represents restricted shares granted under the issuer's 2013 Long-Term Incentive Plan, with any shares becoming earned based upon the issuer's compounded annual book value per share growth percentage and relative total shareholder return during a three-year performance period commencing January 1, 2026 and vesting on March 1, 2029.
- [F2]Restricted share units convert into common shares on a one-for-one basis.
- [F3]Represents restricted shares granted under the issuer's 2013 Long-Term Incentive Plan subject to time-based vesting in equal installments on each of March 1, 2027, 2028 and 2029.
- [F4]The dividend equivalent rights accrued on unvested restricted stock award(s) and/or unvested restricted stock unit award(s) and become vested proportionately with the award(s) to which they relate. Each dividend equivalent unit is the economic equivalent of one common share of Essent Group Ltd.