Ortega Juan Luis 4

What Happened
Juan Luis Ortega, Executive Vice President (Chubb Group; President, North America Insurance), exercised 3,886 stock options on June 8, 2026 at an exercise price of $139.01 per share (total cost ~$540,193). He then sold those 3,886 common shares in an open-market transaction the same day at $322.08 per share, generating gross proceeds of ~$1,251,603 (approximate net proceeds of ~$711,410 before taxes and fees). The filing also records the derivative conversion associated with the exercise.

Key Details

• Transaction date: June 8, 2026; Form 4 filed June 10, 2026 (timely within the usual 2-business-day window).
• Exercise: 3,886 shares acquired at $139.01 each = $540,193 (transaction code M).
• Sale: 3,886 shares sold in open market at $322.08 each = $1,251,603 (transaction code S).
• Derivative conversion: 3,886 shares reported as disposed at $0 to reflect conversion of the options into common shares.
• Shares owned after the transactions: not specified in the filing.
• Footnotes: F1 confirms the sold shares were sold at the same price; F2 shows the option tranche vested in thirds (Feb 23, 2018/2019/2020); F3 notes 1,438 options remain in this tranche and total includes options from other tranches with different terms.

Context
This is effectively a cashless exercise: Ortega exercised vested options (paid the exercise price) and immediately sold the resulting shares in the open market. Such transactions are common for executives monetizing vested option awards and do not by themselves indicate a change in company outlook. The filing does not indicate a 10% owner status, special trading plan (e.g., 10b5-1), or other unusual conditions.