Bhasin Vijay 4

What Happened

• Vijay Bhasin, Senior Vice President and Chief Risk Officer of Essent Group Ltd. (ESNT), reported conversion/exercise of derivative units and related tax-withholding on March 1, 2026. The filing shows conversion/exercise activity for 1,668 shares (derivative code M) and a separate withholding transaction where 12,673 shares were delivered to the issuer to satisfy tax withholding at $60.84 per share, totaling $771,025. One derivative line was reported as a $0 disposition (conversion/cancellation of derivative units).

Key Details

• Transaction date: 2026-03-01; Form 4 filed 2026-03-02 (timely filing).
• Derivative activity: two M-coded entries for 1,668 shares (conversion/exercise of derivative rights); one reported as acquired (no cash price) and another reported as disposed at $0 (represents conversion/cancellation).
• Tax withholding: F-coded entry shows 12,673 shares delivered to issuer at $60.84/share = $771,025 to satisfy tax obligations upon vesting.
• Shares owned after transaction: not specified in the provided filing details.
• Footnotes: F1 indicates dividend-equivalent rights on unvested restricted awards vest proportionately and are economically equivalent to shares; F2 confirms shares were delivered to issuer to satisfy tax withholding on vesting.
• Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (share withholding).

Context

• This appears to be routine vesting/conversion and tax-withholding activity (shares withheld to cover taxes), not an open-market sale or new purchase. For derivative transactions, conversion/exercise can produce shares that are then withheld to cover tax obligations (a cashless-withholding outcome). Such filings document compensation-related vesting rather than a direct signal of insider buying or selling intent.