DOAK MICHAEL 4

What Happened

• Michael Doak, a director of TWFG, acquired a total of 33,283 shares of TWFG Class A common stock in two open-market purchases: 15,745 shares on 2026-05-20 at $18.79 ($295,849) and 17,538 shares on 2026-05-21 at $18.52 ($324,804). These were purchases (insider buys), which investors often view as a more informative signal than routine sales.

Key Details

• Transaction dates & prices:
  • 2026-05-20: 15,745 shares @ $18.79 = $295,849
  • 2026-05-21: 17,538 shares @ $18.52 = $324,804
• Total acquired: 33,283 shares for ~$620,653.
• Holdings noted in the filing: includes 619,196 shares held by Griffin Highline Capital LLC, 2,322 shares held by Dallas Specialty Insurance Company, and 4,000 restricted stock units (RSUs) granted to Doak that vest on the first anniversary of the grant (subject to continued service).
• Footnotes: F1 = 4,000 RSUs included; F2 = Doak is CEO/Co‑Chairman/Manager of Griffin Highline Capital LLC and has sole voting/dispositive power over the LLC’s 619,196 shares but disclaims beneficial ownership except for pecuniary interest.
• Filing timeliness: Report filed 2026-05-22 for transactions on 2026-05-20 and 05-21 — appears timely (Form 4 must generally be filed within two business days).

Context

• These were open‑market purchases (transaction code P), not option exercises or awards. The RSUs mentioned vest later and are subject to service conditions.
• The filing shows holdings through entities Doak controls; he disclaims direct beneficial ownership of those entity-held shares except for his pecuniary interest. As always, purchases are factual data points and do not prove insider motives.