Derstine Michael 4

What Happened

• Michael Derstine, EVP and Chief Risk Officer of Enact Holdings (ACT), had 17,952 performance stock units (PSUs) vest and convert into common shares on Feb 24, 2026. Of the 17,952 shares, 5,341 were withheld by the company to cover tax withholding at $41.46 per share, amounting to $221,438. The net shares delivered to Derstine were 12,611.
• The filing shows the PSU derivative being converted/terminated (reported as an exercise/conversion) and the withholding reported as a disposition for tax payment — this was not an open-market sale of shares.

Key Details

• Transaction date: 2026-02-24; Form 4 filed: 2026-02-26 (filed within typical 2-business-day window).
• Shares vested/converted: 17,952 PSUs → 17,952 common shares (1:1 settlement).
• Tax withholding: 5,341 shares withheld @ $41.46 = $221,438.
• Net shares received by insider: 12,611.
• Shares owned after transaction: Not specified in the provided filing summary.
• Footnotes: F1–F3 state these were PSUs granted Feb 9, 2023, which vested and converted 1:1 on Feb 24, 2026; the company withheld shares to satisfy tax withholding on the vested PSUs.

Context

• This was a routine PSU vesting and share-withholding to cover taxes (a common, administrative cashless withholding), not an open-market sale or purchase that necessarily signals a change in the insider’s market view.
• For derivative reports: the PSU (derivative) was converted into stock rather than exercised as a market option; the withholding is reported as a disposition for tax purposes.