Neptune (NP) CFO James Steiner Transfers 3,349,050 Shares

What Happened
James Steiner, Chief Financial Officer of Neptune Insurance Holdings (NP), transferred 3,349,050 shares of Class A common stock into a revocable trust on September 14, 2026. The Form 4 shows matching "other acquisition/disposition (J)" entries for 3,349,050 shares (one disposition and one acquisition) with no price reported, because the transfer was for no consideration. Steiner’s total beneficial ownership of Class A common stock remained unchanged at 4,284,715 shares immediately before and after the transfer.

Key Details

• Transaction date: 2026-09-14; filing date: 2026-09-16 (timely filing).
• Reported shares moved: 3,349,050 shares (transfer between Steiner’s name and his revocable trust). No price per share (no cash exchanged).
• Shares owned after transaction: 4,284,715 shares of Class A common stock.
• Footnotes: F1/F2 state the transfer was into a revocable trust of which Steiner is sole grantor, trustee and current beneficiary and that no consideration was paid. F3 notes 535,665 shares are underlying time‑based restricted stock units held directly by Steiner, vesting 178,555 on Sept 30, 2026 and the remaining 357,110 in eight quarterly installments through Sept 30, 2028.
• Transaction code: J (other acquisition or disposition).

Context
This was an internal, non‑market transfer (administrative/estate‑planning style) and not an open‑market buy or sale—such transfers generally do not signal a change in insider sentiment. The presence of matching disposition and acquisition entries simply records the change in form of ownership (individual to revocable trust) while leaving economic interest unchanged.