POWELL BRADLEY S 4

What Happened
Bradley S. Powell, a director of Trupanion, had 639 restricted stock units (RSUs) convert into 639 shares on May 22, 2026. The Form 4 shows an acquisition/ conversion of 639 shares and a simultaneous disposal of 639 shares at $0.00 — commonly reflecting shares withheld to cover tax withholding obligations rather than an open‑market sale.

Key Details

• Transaction date: May 22, 2026; Form 4 filed May 27, 2026 (filed one business day after the two-business-day Form 4 deadline).
• Converted/acquired: 639 shares via RSU conversion (footnote F1: RSUs convert one-for-one).
• Disposed: 639 shares at $0.00 (reported as derivative disposition; likely represents shares withheld for taxes).
• Grant/vesting note (F2): Powell was granted 1,906 RSUs on Nov 14, 2025; vesting occurs in three equal installments (Nov 22, 2025; Feb 22, 2026; May 22, 2026) subject to continued service.
• Shares owned after the transaction: not specified in the filing.

Context
This was an RSU vesting event, not an open‑market buy or sell. When RSUs vest, companies commonly withhold a portion of the shares to satisfy tax obligations — that looks to be what the $0.00 disposal represents. Such routine vesting transactions are common for executives and directors and do not necessarily signal a change in insider sentiment.