Bunch Michelle Caroline 4

What Happened

• Michelle C. Bunch, a director of TWFG, Inc., reported a series of zero-dollar gifts/transfers on June 5, 2026 involving Class C common stock of TWFG, Inc. and corresponding common units of TWFG Holding Company, LLC. Transactions listed include disposals of 529,568 and 264,784 shares and acquisitions of multiple blocks of 264,784 shares (all at $0.00), with matching derivative entries for the corresponding LLC units.
• Because the amounts acquired and disposed are equal (the same block sizes repeated), the filing indicates these were transfers among related parties (gifts) and resulted in no net change in the reporter’s economic interest for the reported positions. All transactions are reported at $0, consistent with gifts.

Key Details

• Transaction date: June 5, 2026; Filing date: June 9, 2026 (filed within the Form 4 two-business-day window).
• Price: $0.00 — transaction code G (Gift).
• Net effect: Acquisitions and dispositions offset each other; filing shows no net change in beneficial ownership for the reported securities.
• Footnotes:
  • F1/F2: Bunch Family Holdings LLC transferred 264,784 TWFG Holding units (with corresponding Class C shares) to Michelle C. Bunch and to Richard F. Bunch III, and those units/shares were then transferred into spousal lifetime trusts (RFB Trust and MCB Trust) for the respective spouses/trustees.
  • F3: Each TWFG Holding LLC unit is exchangeable one-for-one into TWFG Class A shares; upon such an exchange, an equivalent number of Class C shares held by the reporting person would be cancelled — explaining the parallel “derivative” unit entries.
• No indication of a 10b5-1 plan, tax withholding, or late filing in the report.

Context

• These were gifts/transfers among affiliates/trusts, which are administrative/estate-planning moves and do not necessarily indicate insider sentiment about the company’s stock. The derivative entries reflect exchangeable LLC units tied to TWFG’s capital structure (exchangeable into Class A shares, canceling Class C shares), not option exercises or market purchases/sales.