TONEY CHARLES 4

What Happened
Toney Charles, Vice President — Actuary at Mercury General Corp (MCY), received a grant of 414.8 restricted stock units (RSUs) on 2026-02-21. The award was recorded at $0.00 (no purchase price) as a derivative grant; the RSUs will be settled in cash upon vesting rather than converted into shares immediately. Because the grant is an award (compensation), it is not a market purchase or sale.

Key Details

• Transaction date: 2026-02-21; reported on Form 4 filed 2026-04-06 (appears to be a late filing vs. the 2-business‑day rule).
• Grant: 414.8 RSUs, acquisition price $0.00 (award/derivative).
• Vesting/settlement (footnote): RSUs vest in three equal annual installments beginning Feb 21, 2027 (≈138.3 RSUs per year) and will be settled in cash upon vesting.
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Filing timeliness: Form 4 filed Apr 6, 2026 — appears late relative to the Feb 21, 2026 transaction (Form 4s are normally due within 2 business days).

Context
RSU grants are typically part of executive or retention compensation and do not by themselves signal a buy or sell decision by the insider. Because these RSUs are cash‑settled, Charles is slated to receive cash equal to the share value at each vesting date rather than immediate common stock.