Lisenby Jeffrey Patton 4

What Happened

Jeffrey Patton Lisenby, Executive Vice President, Secretary & General Counsel of ProAssurance Corporation (PRA), exercised/converted derivative awards on February 25, 2026. He converted a total of 17,557 RSU-equivalent shares at an effective price/value of $24.47 per share, representing $429,619 in aggregate. To cover tax withholding, 7,615 shares were withheld/disposed (reported as code F) valued at $186,339, leaving a net issuance to Lisenby of 9,942 shares. The filing shows conversion/settlement entries (code M) and corresponding derivative cancellations reported at $0.

Key Details

• Transaction date: 2026-02-25 (filed 2026-02-26 — timely).
• Exercise/conversion totals: 17,557 shares at $24.47 each = $429,619.
• Tax withholding: 7,615 shares withheld/disposed for $186,339 (code F).
• Net shares received: 9,942 shares.
• Transaction codes: M = exercise/conversion of derivative; F = tax withholding/payment.
• Footnotes: RSUs are issued under ProAssurance equity plans, vest per multi-year schedules, are settled in shares and cash (cash portion ≈ taxes). RSUs were priced on Feb 24, 2026 per the Compensation Committee (see F1–F5).
• Shares owned after transaction: not disclosed in the provided excerpt.

Context

• This was a settlement/exercise of RSUs (derivative conversion) with a net share issuance after tax withholding — effectively a non‑market acquisition of company stock tied to compensation vesting, not an open‑market purchase. The derivative cancellation entries at $0 reflect the conversion/settlement of the RSU awards.