MARTZ BRAD 4
4 · AMERICAN COASTAL INSURANCE Corp · Filed Apr 7, 2026
Research Summary
AI-generated summary of this filing
American Coastal (ACIC) CEO Brad Martz Exercises Options, Sells Shares
What Happened Brad Martz, President and Chief Executive Officer of American Coastal Insurance Corp (ACIC), exercised/converted derivative awards on April 3, 2026, resulting in 25,903 shares being issued to him. To satisfy tax withholding and related obligations, portions of the issued/converted shares were surrendered or sold: notably 10,365 shares were surrendered at $10.97 (proceeds reported $113,704) and several smaller lots were disposed at prices between $11.31 and $11.85 for additional proceeds of about $22,419. Net cash proceeds reported from the priced dispositions total roughly $136,123. Several other converted/issued share amounts show $0 per-share value in the filing (these reflect issuance from unit awards rather than a cash option exercise).
Key Details
- Transaction date: April 3, 2026; Form 4 filed April 7, 2026 (timely).
- Main actions: Exercise/conversion of derivatives (code M) and payment of tax liability/share withholding (code F).
- Share counts & reported prices:
- Acquired: 25,903 shares at $0.00 (conversion/exercise)
- Withheld/disposed: 10,365 shares @ $10.97 (proceeds $113,704)
- Additional dispositions: 11,654 and 5,826 shares reported as disposed at $0.00 (derivative conversions), plus 403 @ $11.31 ($4,558), 246 @ $11.85 ($2,915), 806 @ $11.31 ($9,116) and 492 @ $11.85 ($5,830).
- Total reported cash proceeds from priced disposals: ≈ $136,123.
- Shares owned after transaction: not specified in this filing.
- Footnotes: filing includes stock/unit award footnotes — units are conditional and may be subject to vesting and performance adjustments (see F1–F6). The priced disposals appear to be tax-withholding or related surrender rather than open-market sales.
Context This appears to be a routine exercise/conversion of equity awards with shares surrendered or sold to satisfy tax obligations (a common “cashless” or share-withholding outcome). Such transactions are typically administrative and do not necessarily signal a change in insider sentiment.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-04-03+25,903→ 391,846 total - Tax Payment
Common Stock
2026-04-03$10.97/sh−10,365$113,704→ 381,481 total - Exercise/Conversion
Performance Stock Units
[F1][F2][F3]2026-04-03−11,654→ 82,197 total→ Common Stock (11,654 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4]2026-04-03−5,826→ 41,101 total→ Common Stock (5,826 underlying) - Exercise/Conversion
Dividend Equivalent Units
[F1][F5]2026-04-03$11.31/sh−403$4,558→ 2,778 total→ Common Stock (403 underlying) - Exercise/Conversion
Dividend Equivalent Units
[F1][F5]2026-04-03$11.85/sh−246$2,915→ 781 total→ Common Stock (246 underlying) - Exercise/Conversion
Dividend Equivalent Units
[F1][F6]2026-04-03$11.31/sh−806$9,116→ 5,554 total→ Common Stock (806 underlying) - Exercise/Conversion
Dividend Equivalent Units
[F1][F6]2026-04-03$11.85/sh−492$5,830→ 1,563 total→ Common Stock (492 underlying)
Footnotes (6)
- [F1]Each stock unit represents a conditional right to receive one share of the company's common stock.
- [F2]The performance units are subject to vesting over three years with one third, rounded down to the nearest whole share of stock, vesting in each period.
- [F3]The number of shares of common stock that will be delivered for each performance stock unit depends on the achievement of certain performance factors. Depending on actual performance, the number of shares of common stock delivered upon the vesting date (based on the terms outlined in the respective award agreement) can range from 0% to 150% of the number presented above.
- [F4]The restricted stock units are subject to vesting over three years with one third, rounded down to the nearest whole share of stock, vesting in each period.
- [F5]The dividend equivalent units will vest proportionately with the underlying restricted stock units to which they relate.
- [F6]The dividend equivalent units will vest proportionately with the underlying performance stock units to which they relate.