ZURAITIS MARITA 4

What Happened
Marita Zuraitis, President & CEO and a director of Horace Mann Educators Corp (HMN), exercised stock options on June 24, 2026. She converted two option tranches to acquire 70,424 shares ($41.95 each, $2,954,287) and 71,532 shares ($42.95 each, $3,072,299) — a total of 141,956 shares with an acquisition value of about $6.03 million. To satisfy the exercise price and tax withholding, the issuer withheld 63,678 shares (priced at $50.75, $3,231,659) and 65,465 shares (priced at $50.75, $3,322,349) — 129,143 shares withheld with a combined value of about $6.55 million. Net, Zuraitis retained about 12,813 newly issued shares after the net exercise.

Key Details

• Transaction date: 2026-06-24; Form 4 filed 2026-06-26 (filed within the typical two-business-day window).
• Option exercises (code M): 70,424 shares at $41.95 ($2,954,287) and 71,532 shares at $42.95 ($3,072,299).
• Withheld to cover exercise price/taxes (code F): 63,678 shares and 65,465 shares at $50.75 (total ~$6.55M).
• Net new shares retained: ~12,813 (141,956 acquired − 129,143 withheld).
• Reported beneficial ownership lines reference 215,890.550 vested restricted stock units and various common-stock totals (footnotes list common-stock balances such as 162,345; 98,667; 170,199; 104,734 across lines).
• Footnotes: F1 — exercise effected under a Rule 10b5-1 trading plan (adopted Dec 23, 2025) and described as an exercise-and-hold; F3 — shares were withheld by the issuer in a net exercise to satisfy exercise price and tax withholding.

Context and what it means for investors
This was an option exercise (derivative conversion), not an open-market purchase or sale. The issuer’s withholding of shares to cover exercise costs/taxes is a common net (cashless) exercise mechanism and does not by itself indicate a directional view. The use of a Rule 10b5-1 plan means the exercise was pre-planned under an approved trading arrangement.