HAFT IAN DAVID 4

What Happened Ian Haft, a member of the Board of Directors of Octave Specialty Group, Inc. (OSG), was granted 6,500 restricted stock units (RSUs) on July 1, 2026. The Form 4 reports the award as a derivative acquisition at $0.00 per unit (no cash paid). These RSUs represent contingent rights to receive shares of OSG common stock in the future rather than immediate share ownership.

Key Details

• Transaction date: July 1, 2026; reported on Form 4 filed July 7, 2026 (filing occurred six days after the grant).
• Grant details: 6,500 RSUs; reported acquisition price $0.00 (derivative award).
• Shares owned after transaction: not specified in the filing.
• Vesting/settlement terms (from filing footnotes):
  • Each RSU equals a contingent right to one share.
  • RSUs granted 7/1/2026 vest one year later on 7/1/2027.
  • Vested RSUs will settle and convert into common shares only upon the reporting person’s resignation from or cessation as a board member.
• Timeliness: Filing was after the typical two-business-day Form 4 window (filed 7/7), so the report was late.

Context This is a standard director compensation award (an RSU grant), not a market purchase or sale. RSUs are derivative awards that only create actual share ownership under the specific vesting/settlement conditions above, so they don’t immediately change the director’s voting power or liquid holdings. The economic value to Mr. Haft will depend on OSG’s share price when (and if) the RSUs convert to shares under the plan terms.