Broden Max 4

What Happened

• Max Broden, a director of Trupanion, Inc. (TRUP), received an award of 6,375 restricted stock units (RSUs) on May 11, 2026. The grant price is listed as $0.00 (derivative award), so no cash was paid. The RSUs convert one-for-one into common stock as they vest.

Key Details

• Transaction date: May 11, 2026; Form 4 filed May 13, 2026 (appears timely — within the typical two-business-day window).
• Award: 6,375 RSUs; grant price $0.00; transaction code A (award/grant).
• Vesting schedule: 1/4 on each of Aug 22, 2026; Nov 22, 2026; Feb 22, 2027; and May 22, 2027, subject to continued service.
• Special vesting provision: Mr. Broden will not stand for reelection at the 2026 Annual Meeting; under the Non-Employee Director Compensation Program he will vest in 1/4 of the shares immediately prior to the 2026 Annual Meeting if he continues service to that date, with the remaining shares forfeited.
• Deferred settlement: The reporting person elected deferred settlement — the award will not settle until 60 days after death, disability, or separation from service, or immediately upon a change in control.
• Shares owned after transaction: not specified in the filing.

Context

• RSUs are a common form of director compensation and represent a promise of shares upon vesting rather than an immediate purchase or sale. This is a grant (compensation), not a market purchase or sale, and therefore does not by itself signal buying/selling sentiment.