D'Orazio Frank 4

What Happened

Frank D'Orazio, Chief Executive Officer of James River Group Holdings, disposed of 8,362 shares on March 1, 2026. The sales were tax-withholding transactions (code F) at $7.00 per share: 2,332 shares for $16,324 and 6,030 shares for $42,210, totaling $58,534. These were routine share withholdings to satisfy tax liabilities tied to restricted share unit (RSU) vesting, not an open-market sale for cash.

Key Details

• Transaction dates: March 1, 2026; filing date: March 3, 2026 (appears timely).
• Prices and amounts: 2,332 shares @ $7.00 = $16,324; 6,030 shares @ $7.00 = $42,210; total 8,362 shares, $58,534.
• Shares owned after transaction: not disclosed in the provided filing.
• Footnotes: F1 — 2,332 shares were withheld to cover taxes on the vesting of 6,209 RSUs on March 1, 2026. F2 — 6,030 shares were withheld to cover taxes on the vesting of 16,439 RSUs on March 1, 2026.
• Transaction code: F (payment of tax liability via share withholding).

Context

• This is a common, administrative transaction: companies often withhold a portion of vested RSUs to pay required payroll/tax obligations. Such withholdings are not typically interpreted as a bearish signal.
• For retail investors, purchases are generally more informative than routine withholding sales. This filing documents tax-related share retention by the company rather than an intentional market sale by the insider.