RAWLINGS DARRYL 4

What Happened

• Darryl Rawlings, a director of Trupanion, had 946 restricted stock units (RSUs) convert into 946 shares on February 25, 2026. The Form 4 shows an acquisition (conversion) of 946 shares and a matching disposition of 946 shares at $0.00, indicating those shares were withheld or surrendered to cover tax withholding obligations. No cash sale proceeds were reported.

Key Details

• Transaction date: 2026-02-25
• Conversion: 946 RSUs → 946 common shares (footnote F1: RSUs convert one-for-one)
• Disposition: 946 shares disposed at $0.00 (withheld for taxes / surrendered)
• Shares owned after transaction: Not disclosed in the provided excerpt
• Related footnote (F2): These RSUs were part of a 15,132-RSU grant on Feb 28, 2022 with a multi-year vesting schedule (1/4 on 2/25/2023, then quarterly thereafter)
• Filing: Reported 2026-02-27 for a 2026-02-25 transaction — appears timely

Context

• This appears to be a routine vesting and tax-withholding event (RSUs converting to shares, with shares withheld to satisfy tax obligations), not an open-market sale or purchase. Such withholding transactions are common with equity compensation and do not necessarily indicate the insider’s view on the company’s stock. Purchases would be a stronger bullish signal; this filing is administrative.