Angelina Michael E 4

What Happened
Angelina Michael, a director of RLI Corp. (RLI), received a grant of 2,506 restricted stock units (RSUs) on 2026-05-14 and had RSUs vest/convert into 1,749 shares on 2026-05-13 (1,681 shares reported as converted and 68 shares from dividend reinvestment). The converted shares and the grant were recorded at $0.00 per share (typical for equity awards rather than open-market purchases). On 2026-05-13 the same 1,681 shares that were converted were reported as disposed (derivative-related disposition).

Key Details

• Transaction dates and prices:
  • 2026-05-13: 1,681 shares acquired on conversion of a derivative (M) @ $0.00; 68 shares acquired (J) @ $0.00; same 1,681 shares reported disposed (M) @ $0.00.
  • 2026-05-14: 2,506-share grant/award (A) @ $0.00.
• Shares owned after transaction: not specified in the supplied excerpt of the filing.
• Notable footnotes:
  • F1/F4: Shares acquired on vesting of RSUs.
  • F2: Ownership reflects dividend reinvestment.
  • F3: Shares from vesting of accrued dividend equivalents on RSUs.
  • F5/F6: Certain RSUs are scheduled to vest 100% on the earlier of the next Annual Shareholders’ Meeting or one year after grant.
• Timeliness: Reported on 2026-05-15 for transactions dated 2026-05-13 — appears filed within the Form 4 two-business-day window.

Context
These transactions reflect equity compensation activity (vesting/conversion of RSUs and a new RSU grant), not an open-market buy or sale of stock. It is common for vested RSU shares to be converted into common shares and for a portion to be surrendered or sold to cover tax withholding; the filing shows converted shares and a same-day disposition consistent with that routine administrative step. Such awards and vesting are compensation-related and don't, by themselves, indicate an insider buying additional stock on the open market.