Sorenson Steven P 4

What Happened
Steven P. Sorenson, a director of Employers Holdings, Inc., was credited with 21 dividend-equivalent rights (DERs) on March 18, 2026. The filing shows an acquisition-type transaction (code A) for 21 units at $0.00 — these are derivative rights, not a cash purchase or sale, so no cash changed hands.

Key Details

• Transaction date: 2026-03-18; filing date (Form 4): 2026-03-20. Filing appears timely.
• Transaction type/code: Award/Grant (A); 21 DERs acquired at $0.00.
• Shares owned after transaction: not specified in the provided filing summary.
• Footnote: The DERs are dividend equivalents accrued on vested restricted stock units (RSUs) previously granted and are tied to deferred delivery of those RSUs. They become exercisable proportionately with the related RSUs and each DER is the economic equivalent of one share.
• No sale or exercise reported in this filing.

Context
DERs reflect compensation accounting for dividend equivalents on deferred RSUs and are common in director pay plans. Because these are derivative, deferred compensation rights (not open-market purchases or sales), they do not by themselves indicate a buy/sell signal from the insider. The DERs will be settled in connection with the underlying RSUs (not immediately convertible to shares except as described).