Genworth Holdings, Inc. 4
Research Summary
AI-generated summary
Enact (ACT) 10% Owner Genworth Sells 820,567 Shares
What Happened Genworth Holdings, Inc. (identified as a 10%+ beneficial owner; filing notes it owns ~81% of Enact's outstanding shares) sold 820,567 shares of Enact Holdings, Inc. (ACT) on 2026-03-31 at $40.92 per share, for a total reported value of $33,579,571. The sale was effected pursuant to a Share Repurchase Agreement between Enact and Genworth dated February 2, 2026.
Key Details
- Transaction date: 2026-03-31; Form 4 filed: 2026-04-01 (appears timely).
- Shares sold: 820,567 at $40.92 per share; total proceeds: $33,579,571.
- Method: Sale to Issuer under a Share Repurchase Agreement (see Issuer Form 8‑K, exhibit 99.4).
- Price note: Per filing, the $40.92 price was determined under the Agreement based on a weighted average price paid by the Issuer for purchases from third parties.
- Ownership after transaction: Filing states Genworth owns approximately 81% of Enact’s common stock (footnote).
- Transaction code: S = Sale (institutional/major shareholder transaction, not an officer/director buy).
Context This was a private sale pursuant to a repurchase agreement (the company bought shares from its large shareholder), not a routine open-market sale by an individual insider. Because Genworth is a large institutional/majority shareholder rather than an Enact executive, the filing reflects a corporate share-repurchase arrangement rather than an individual trading signal.