DOAK MICHAEL 4

What Happened
Michael Doak, a director of TWFG, acquired a total of 33,000 shares of TWFG, Inc. in two open-market purchases on June 1–2, 2026. He bought 16,500 shares at $19.33 on June 1 (≈ $318,945) and 16,500 shares at $19.25 on June 2 (≈ $317,625), for a combined cash outlay of about $636,570. These were purchases (transaction code P) reported on an SEC Form 4.

Key Details

• Transaction dates & prices:
  • 2026-06-01: 16,500 shares @ $19.33 — $318,945
  • 2026-06-02: 16,500 shares @ $19.25 — $317,625
• Total shares acquired: 33,000; total value: ≈ $636,570.
• Reported holdings noted in the filing:
  • 714,277 shares held directly by Griffin Highline Capital LLC (Mr. Doak is CEO, Co‑Chairman & Manager and has sole voting and dispositive power).
  • 9,451 shares directly held by Dallas Specialty Insurance Company (controlled by Griffin Highline).
  • The filing also includes 4,000 restricted stock units (RSUs) granted to Doak as a director; those RSUs vest in full one year after grant, subject to continued service.
• Mr. Doak disclaims beneficial ownership of shares held by Griffin Highline Capital LLC and Dallas Specialty Insurance Company except to the extent of his pecuniary interest.
• Filing date: 2026-06-02 (reporting transactions on 2026-06-01 and 2026-06-02). No late-filing flag was provided in the material shared.

Context

• These were straight open-market purchases (P), not option exercises or awards. Purchases are generally regarded as affirmative acquisitions of stock rather than routine compensation events.
• The RSUs reported are time‑based awards that do not vest immediately (vest on the first anniversary of grant, subject to continued service).
• Note that a substantial portion of the reported holdings are held through an entity Mr. Doak manages; the filing clarifies voting/dispositive power and his disclaimer of beneficial ownership except for pecuniary interest.