STONE MICHAEL J 4

What Happened

• Michael J. Stone, a director of RLI Corp. (RLI), reported acquisitions tied to restricted stock units (RSUs). On May 13, 2026 he received 1,681 shares on vesting of RSUs and 68 shares as vested dividend equivalents (all $0.00). The filing also shows a conversion/settlement entry for 1,681 derivative units. On May 14, 2026 he was granted 2,506 RSUs (derivative award, $0.00). In total the filing reports 4,255 shares acquired or granted (no cash exchanged).

Key Details

• Transaction dates and types:
  • 2026-05-13: Exercise/conversion of derivative (M) — 1,681 shares acquired ($0.00) and a matching derivative disposition (M) showing conversion/extinguishment.
  • 2026-05-13: Other acquisition (J) — 68 shares acquired ($0.00) (vested dividend equivalents).
  • 2026-05-14: Grant/award (A) — 2,506 RSUs granted ($0.00).
• Reported dollar price for all items: $0.00 (typical for RSU vesting/awards).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Relevant footnotes:
  • F1: shares from RSU vesting; F3: vested dividend equivalents; F4/F5: the granted RSUs vest 100% on the earlier of the 2026/2027 annual meeting or one year after grant (as applicable); F2 notes ownership reflects dividend reinvestment.
• Timeliness: Reported on Form 4 covering transactions on May 13–14 and filed May 15, 2026 — appears timely under Form 4 rules.

Context

• These entries represent vesting and an award of RSUs (not an open‑market buy or sale). The M code and matching disposition reflect conversion/settlement of derivative units into shares rather than a cash purchase/sale. Grants and vesting like this are routine for directors and reflect compensation being converted into stock rather than an independent market signal.