Swed Ryan M. 4

What Happened

• Ryan M. Swed, Group President of Stewart Information Services (STC), had 3,206 restricted stock units (RSUs) vest on March 8, 2026. The RSUs converted into 3,206 shares of STC common stock (derivative exercise/conversion).
• To satisfy tax withholding, 925 of those shares were withheld/disposed at $67.00 per share, equal to $61,975. The net result was delivery of 2,281 shares to Swed (3,206 vested − 925 withheld).
• This was not an open-market sale or purchase — it was an award vesting event with shares withheld for taxes (routine, not necessarily a market sentiment signal).

Key Details

• Transaction date: March 8, 2026; Form 4 filed March 10, 2026 (timely filing).
• Codes: M = exercise/conversion of derivative (RSU vesting); F = shares withheld to pay tax liability.
• Withheld shares: 925 shares at $67.00 each = $61,975 withheld for taxes.
• RSU conversion: 3,206 vested and converted into shares with $0 exercise price (typical for RSUs).
• Net shares received by insider: 2,281 shares.
• Footnotes: F1 — each RSU equals one share of common stock; F2 — these RSUs vested in three equal annual installments on March 8, 2024, 2025, and 2026.

Context

• This was a vesting of previously granted RSUs (an award), not a market purchase or sale. The withholding of shares to cover taxes is a common administrative step (cashless tax withholding).
• Because the transaction reflects compensation vesting rather than a discretionary buy or sell, it should be interpreted as routine compensation-related activity rather than a direct insider signal to buy or sell stock.