Bunch Michelle Caroline 4

What Happened

• Michelle Caroline Bunch, a director of TWFG, received awards (RSUs) totaling 31,500 shares on March 31, 2026. The awards are reported as two grants: 4,000 RSUs and 27,500 RSUs (both recorded at $0.00 per share).
• Separately, 2,133 shares were disposed (withheld) at $18.39 per share to satisfy tax withholding obligations, generating a withholding value of $39,226. The withheld shares were elected by Mr. Bunch for tax purposes (see footnote).

Key Details

• Transaction date: 2026-03-31 (filed on 2026-04-02).
• Grants: 4,000 RSUs @ $0.00 (F1); 27,500 RSUs @ $0.00 (F2). Withholding: 2,133 shares @ $18.39 for taxes = $39,226 (F3).
• Vesting: The 4,000 RSUs (F1) vest in full on the first anniversary of the grant, subject to continued service. The 27,500 RSUs (F2) were granted to her husband and vest in three equal installments on 3/31/2027, 3/31/2028, and 3/31/2029, subject to continued service.
• Shares owned after transaction: not specified in this filing; footnote F4 notes family and LLC holdings are reported separately/individually.
• Filing timeliness: Form 4 filed April 2, 2026 for 3/31/2026 transactions — appears to be timely.

Context

• These entries are awards (RSUs) and a tax-withholding disposition; the withheld shares are not an open-market sale but were retained to cover tax obligations on RSU releases.
• The 27,500-share grant relates to Mr. Bunch (her husband) and is included here due to deemed pecuniary interests; holdings are reported for family members and an LLC separately.