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RLI CORP·4

May 15, 4:15 PM ET

RESTREPO ROBERT P JR 4

Research Summary

AI-generated summary

Updated

RLI (RLI) Director Robert P. Restrepo Receives Vested Shares & RSU Grant

What Happened

  • Robert P. Restrepo, a director of RLI Corp. (RLI), reported share activity tied to restricted stock units (RSUs). On 2026-05-13 he converted/received 1,681 shares on vesting (reported as a derivative exercise/conversion) and acquired 68 shares from vested dividend equivalents — total 1,749 shares — all at $0 (no cash paid). The filing also shows a reported disposition of 1,681 derivative shares on 2026-05-13 (reported as a derivative disposal). On 2026-05-14 he was granted 2,506 RSUs (reported as an award/grant) at $0. These were vesting/grant-related transactions, not open-market purchases or sales.

Key Details

  • Transaction dates and reported prices:
    • 2026-05-13: Exercise/conversion (M) — 1,681 shares acquired @ $0.00
    • 2026-05-13: Other acquisition (J) — 68 shares acquired @ $0.00 (dividend equivalents)
    • 2026-05-13: Exercise/conversion (M) — 1,681 shares disposed @ $0.00 (reported as derivative disposal)
    • 2026-05-14: Grant/award (A) — 2,506 RSUs granted @ $0.00
  • Total shares acquired on vesting: 1,749; total RSUs newly granted: 2,506.
  • Amount owned after the reported transactions is not specified in the provided excerpt of the filing.
  • Relevant footnotes:
    • F1/F2: 5/13 shares came from RSU vesting and vested dividend equivalents.
    • F3/F4: The awarded RSUs have scheduled vesting tied to upcoming annual shareholders’ meetings or one year after grant (per the filing).
  • Filing timeliness: Reported period 2026-05-13; Form 4 filed 2026-05-15 — within the usual two-business-day reporting window.

Context

  • "Exercise/conversion of derivative" here reflects RSUs converting into common shares on vesting; these transactions were non-cash (reported at $0), so they represent compensation/vesting rather than market purchases or sales.
  • The simultaneous derivative "disposition" of 1,681 shares could reflect an administrative transfer (for example, to satisfy tax withholding or broker instructions); the filing does not specify the reason.
  • These items are routine insider compensation events and do not by themselves indicate a buy/sell sentiment in the open market.