WEINRAUCH STEVE 4

What Happened
Steve Weinrauch, EVP, North America & Vet Strategy at Trupanion (TRUP), exercised 8,500 stock options on June 5, 2026 (reporting code M). He paid $15.46 per share for those shares (total cash outlay $131,410). On the same day he sold 6,674 shares in the open market at a weighted average price of $22.00 per share, generating proceeds of $146,828. The filing also shows 8,500 derivative shares marked as disposed at $0.00.

Key Details

• Transaction date: 2026-06-05; Form 4 filed 2026-06-09 (timely filing).
• Option exercise: 8,500 shares at $15.46, total $131,410 (code M).
• Open-market sale: 6,674 shares at a weighted average $22.00, proceeds $146,828 (code S). Reported sale prices ranged $21.95–$22.04 (see footnote F1).
• Derivative disposition: 8,500 shares reported disposed at $0.00 (code M); see note below.
• Shares owned after the transactions: not specified in the provided filing.
• Footnote F2: these options were granted July 22, 2016, and fully vested by July 22, 2020 under the original vesting schedule.

Context
The filing shows an option exercise combined with an immediate open-market sale. The 8,500 derivative shares reported as disposed at $0.00 typically reflect shares withheld or surrendered in connection with a cashless exercise or to cover taxes/fees, though the filing does not specify the exact mechanism. Exercise + partial sale transactions are common for executives converting vested options to cash or covering exercise/tax costs; they are informational rather than a clear signal of sentiment.