SelectQuote GC Daniel Boulware Exercises Shares, Receives Awards

What Happened
Daniel Allen Boulware, General Counsel and Secretary of SelectQuote, converted/exercised derivative awards into 217,014 shares on 2026-08-01 (entries labeled “M”), at $0.00 exercise price. To satisfy withholding taxes, he surrendered 91,909 shares (tax withholding entry “F”) at $0.75 per share, totaling $68,656. On the same date he was granted two performance-based restricted stock unit (PVU) awards of 218,750 shares each (total 437,500 PVUs) (entries labeled “A”).

Key Details

• Transaction date: August 1, 2026; Form 4 filed August 4, 2026 (timeliness not specified in the provided data).
• Converted/received: 217,014 shares via exercise/conversion (M) at $0.00 reported exercise price.
• Shares surrendered for taxes: 91,909 shares at $0.75 = $68,656 (F).
• New awards: two PVU grants of 218,750 shares each (total 437,500 PVUs) (A).
• Shares owned after transaction: not disclosed in the information provided.
• Footnotes of note:
  • F1/F2/F3/F4–F8 describe RSU/PVU mechanics and that each unit represents a contingent right to one share.
  • F10 & F11: the PVUs vest in three ratable annual installments and vest only if 60‑day average stock-price hurdles are met (examples: $2.00/$3.00/$4.00 and $3.13/$6.00/$9.00 schedules) over multi‑year performance periods.
• Transaction codes: M = exercise/conversion of derivative; F = shares surrendered for tax withholding; A = grant/award.

Context

• The exercised/conversion entries at $0.00 typically reflect settlement/vesting conversions of derivative awards (e.g., RSUs/PVUs) rather than a purchase from the open market. The surrender of shares to cover withholding taxes is a routine administrative step, not an open‑market sale to diversify or realize cash.
• The two large PVU grants are performance‑based and will only convert to shares if service and price‑target vesting conditions are met over their respective multi‑year performance periods; they are contingent awards, not guaranteed shares.
• For retail investors: this filing shows insider vesting and new performance awards rather than a straightforward buy or sell signal. Purchases by insiders generally carry more direct bullish signals than routine vesting or tax‑related share surrenders.