Trupanion (TRUP) CEO Margaret Tooth Converts RSUs; Sells 491 Shares

What Happened
Margaret Tooth, CEO and director of Trupanion (TRUP), converted a total of 19,042 restricted stock units (RSUs) into common stock on Aug 22 and Aug 25, 2026. Of those, the issuer withheld 7,000 shares to satisfy income tax withholding obligations (valued at $31.76/share, total ~$222,320). Separately, Tooth sold 491 shares in an open-market transaction on Aug 25, 2026 at $31.84 per share for about $15,633. Net shares retained from the vesting/conversions (after withholding and the small sale) were 11,551 shares.

Key Details

• Transaction dates: conversions and tax-withholding primarily 2026-08-22; one conversion and an open-market sale on 2026-08-25. Form 4 filed 2026-08-26 (timely).
• Conversions (code M): 313 + 3,042 + 6,250 + 8,187 on Aug 22; 1,250 on Aug 25 = 19,042 RSUs converted to common stock.
• Tax withholding (code F): 123 + 1,197 + 2,459 + 3,221 = 7,000 shares withheld at $31.76 = $222,320 (these withheld shares are to satisfy tax obligations and, per the filing, do not represent an open-market sale by the reporting person).
• Open-market sale (code S): 491 shares @ $31.84 on 2026-08-25 = $15,633.
• Net new shares retained from the vesting/conversions: 19,042 − 7,000 − 491 = 11,551 shares.
• Relevant footnotes: F1 notes RSUs convert 1:1 into common stock; F2 clarifies withheld shares are for tax withholding (not a sale by the insider); F3–F7 list prior RSU grants and vesting schedules that underpin these conversions.
• Transaction codes: M = conversion/exercise of derivative, F = payment of exercise price or tax liability (here used for tax withholding), S = open-market sale.

Context
These entries reflect RSU vesting and conversion (not a cash purchase). The tax-withholding entries are the company withholding shares to cover income taxes on the vesting (a routine, non-bull/bear signal). The only open-market sale reported here is the small 491-share sale for about $15.6K. For retail investors, conversions/withholdings show executive compensation being realized; purchases would be more directly bullish, while withholding and small sales are common administrative steps.