DOAK MICHAEL 4

What Happened Michael Doak, a director of TWFG, made three open‑market purchases of TWFG Class A common stock between May 22 and May 27, 2026. He bought 11,000 shares on 2026-05-22 at $18.89 ($207,790), 11,000 shares on 2026-05-26 at $19.23 ($211,530), and 24,880 shares on 2026-05-27 at $18.62 ($463,266), for a combined total of 46,880 shares and approximately $882,586. These were purchases (transaction code P), which are typically interpreted as insider buying rather than selling.

Key Details

• Transaction dates and prices:
  • 2026-05-22: 11,000 shares @ $18.89 = $207,790
  • 2026-05-26: 11,000 shares @ $19.23 = $211,530
  • 2026-05-27: 24,880 shares @ $18.62 = $463,266
• Total purchased: 46,880 shares for ~$882,586.
• Reported holdings noted in the filing:
  • 662,806 shares held by Griffin Highline Capital LLC (Doak is CEO/Co‑Chairman/Manager and has sole voting/dispositive power);
  • 5,592 shares held by Dallas Specialty Insurance Company (controlled by Griffin Highline Capital LLC);
  • 4,000 RSUs previously granted to Doak (vest in full on the first anniversary of grant, subject to continued service).
• Disclaimers: Doak disclaims beneficial ownership of shares held by the LLC and Dallas Specialty Insurance Company except for pecuniary interest.
• Timeliness: Filing dated 2026-05-27 covering transactions through 2026-05-27 — appears timely.

Context

• These were straightforward open‑market purchases (no option exercises, gifts, or tax withholding reported).
• Purchases by insiders can be seen as a positive signal, but they are one data point; filings do not state the insider’s motivation.