Timm Alexander E. 4

What Happened

• Timm Alexander, CEO of Root, reported the vesting/conversion of 62,969 performance-based restricted stock units (PSUs) on April 1, 2026 (recorded as exercise/conversion, code M). To cover tax withholding, the issuer withheld 47,002 shares (three withholding items of 14,965; 3,480; and 28,557 shares) at $43.26 per share, totaling $2,033,307 (codes F). Net shares retained from the vesting = 62,969 − 47,002 = 15,967 shares.

Key Details

• Transaction date: 2026-04-01; Form 4 filed 2026-04-03 (timely within the normal Form 4 window).
• Withheld shares: 14,965; 3,480; and 28,557 — all withheld at $43.26 per share to satisfy tax obligations; total withheld value $2,033,307.
• PSUs converted: 62,969 shares recorded as exercised/converted (code M); corresponding derivative entry also appears in the filing.
• Net shares received by the insider after withholding: 15,967 shares.
• Shares owned after the transaction: not specified in the excerpted transaction data.
• Footnotes: F1 confirms shares were withheld to satisfy tax-withholding on RSU vesting. F2 explains these were performance-based RSUs that vest in tranches (62,969 tranche scheduled 4/1/2026) and are contingent on achieving specified price targets over 45 consecutive trading days (the 62,969 tranche price target listed as $33.52).

Context

• This was a vesting/settlement of PSUs, not an open-market sale — the shares withheld are a standard issuer tax-withholding/net settlement (common and generally routine). The filing indicates conversion/settlement of performance awards rather than a discretionary sale or purchase.