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.