MCGIBNEY BRENNA 4

What Happened

• Brenna McGibney, Chief Administration Officer of Trupanion (TRUP), had restricted stock units (RSUs) convert into common stock on Feb 25, 2026. A total of 646 RSUs converted into shares. The issuer withheld 343 of those shares to satisfy income tax withholding, resulting in a cash withholding of $9,158 (sum of reported withholding payments at $26.70 per share). Net shares added to McGibney’s holdings from this vesting event: 303 shares (646 converted minus 343 withheld).
• The filing shows multiple derivative conversion/exercise entries (transaction code M) and corresponding tax-withholding dispositions (transaction code F). Some conversion lines are recorded with $0 proceeds to reflect conversion of the RSUs rather than an open-market sale.

Key Details

• Transaction date: February 25, 2026; Form 4 filed February 27, 2026 (filed within the usual two-business-day window).
• Conversion totals: 646 RSUs converted into shares (233 + 31 + 17 + 338 + 27).
• Shares withheld for taxes: 343 shares withheld (124 + 16 + 9 + 180 + 14) at $26.70 per share = $9,158 total cash remitted by issuer.
• Net new shares received by insider: 303 shares.
• Footnotes: F1–F7 describe the original RSU grants and vesting schedules; F2 clarifies that withheld shares were used to satisfy tax withholding and do not represent a sale by the insider.
• Filing timeliness: Not reported as late; filed two days after the vesting date.

Context

• These were RSU conversions (award vesting), not open-market purchases or sales. The withheld shares are a common "sell-to-cover" (tax withholding) practice and do not necessarily indicate a change in insider sentiment.
• Transaction codes: M = exercise/conversion of derivative (here, RSUs converting to shares); F = shares withheld to cover tax obligations.