Gansberg David 4

What Happened

• David Gansberg, President of Arch Capital Group (ACGL), exercised stock options on 2026-03-10 to acquire 10,770 shares by paying $18.90 per share (total cost $203,553). On the same day he sold 5,907 shares in the open market at a weighted-average price of $96.37 for proceeds of approximately $569,266. The filing also shows a derivative conversion/disposition entry for 10,770 shares at $0 related to the option exercise.

Key Details

• Transaction dates: March 10, 2026 (reported on Form 4 filed March 12, 2026) — filing appears timely.
• Exercise (code M): 10,770 shares exercised at $18.90; total cost reported $203,553.
• Sale (code S): 5,907 shares sold at a weighted-average price of $96.37; proceeds ~$569,266. (Footnote: sale prices ranged from $96.35 to $96.42.)
• Derivative disposition: 10,770 shares shown disposed at $0 in connection with the exercise (reflects conversion of the option).
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Footnote on award: the option referenced is/was exercisable in three equal annual installments commencing May 13, 2017 (per filing footnote).

Context

• This is essentially an option exercise followed by a partial sale (cashless-style outcome): Gansberg acquired shares by exercising options and sold a portion the same day. The $0 derivative entry reflects conversion of the option into shares rather than a separate cash sale of the derivative itself.
• Such exercises plus immediate partial sales are common for covering exercise costs, taxes, or rebalancing; the transactions are factual and do not by themselves indicate the insider’s future view of the stock.