Papadopoulo Nicolas 4

What Happened
Nicolas Papadopoulo, CEO and director of Arch Capital Group Ltd. (ACGL), exercised 21,930 stock options and immediately sold the 21,930 underlying shares on March 10, 2026. The exercise price paid was $18.90 per share (total cost $414,477), and the shares were sold at a weighted average price of $96.31 per share for total proceeds of $2,112,063. The transaction produced approximately $1,697,586 in gross proceeds after subtracting the exercise cost (before taxes, fees, or withholdings).

Key Details

• Transaction date: 2026-03-10 (reported on Form 4 filed 2026-03-12). Filing appears timely (filed within two business days).
• Activity: M = exercise/conversion of derivative (21,930 shares acquired at $18.90); S = open market sale (21,930 shares sold at weighted avg $96.31). A derivative line shows the related option interest was disposed (reported at $0.00) as part of the exercise.
• Sale price range: weighted average $96.31; individual sale prices ranged from $96.00 to $96.54 (per footnote). Full breakdown available upon request.
• Shares owned after transaction: not specified in the excerpt of the filing provided.
• Footnotes: F1 explains the weighted-average sale price and range; F2 notes the stock option award vested in three installments beginning May 13, 2017 (an older award).

Context
Because the same number of shares were exercised and sold, this effectively operated as an exercise-and-sell (commonly called a cashless exercise), converting vested option rights into cash proceeds. Such transactions are often routine liquidity events for executives and do not, by themselves, indicate a change in long-term sentiment.