Hiltpold Glenn 4

What Happened

• Glenn Hiltpold, VP of Actuarial Services at Safety Insurance Group (SAFT), received two equity awards on Feb 25, 2026 totaling 4,011 shares (1,864 time‑vesting restricted shares and 2,147 performance‑based shares). At the same time, 1,513 shares were recorded as an adjustment related to previously granted performance shares (no cash value).
• Across Feb 24–Mar 2, 2026 Hiltpold disposed a total of 2,156 shares (multiple transactions at prices roughly $75.50–$77.73 per share), generating about $49,539 in proceeds. Many of these disposals were reported as payment of tax liabilities (i.e., shares delivered/sold to satisfy withholding), so this appears to be largely sell‑to‑cover activity rather than a directional bet.

Key Details

• Transaction dates and amounts:
  • Awards (acquisitions): 1,864 shares and 2,147 shares on Feb 25, 2026 (grants reported at $0 per share).
  • Dispositions (payment of tax liability/related sales): Feb 24 (183 and 39 sh), Feb 27 (72 and 146 sh), Mar 2 (18 and 185 sh) and a Feb 25 adjustment of 1,513 sh recorded as disposed at $0.
  • Reported disposal proceeds (cash sales/surrenders) total ≈ $49,539.
• Net change: +1,855 shares (4,011 acquired − 2,156 disposed).
• Shares owned after the transactions: not stated in the filing.
• Notable footnotes:
  • F1: 1,513‑share disposition represents the difference between performance shares granted Feb 22, 2023 and shares actually earned through Dec 31, 2025 (final approved Feb 25, 2026).
  • F2/F3: One award vests time‑based over 3 years (30%/30%/40%); the other is performance‑based with a 2026–2028 performance period; final performance results will affect future reporting.
  • F4: Some securities were delivered to pay tax liabilities (sell‑to‑cover).
  • Filing notes weighted‑average sale price ranges for same‑day open market sales and references a Rule 10b5‑1 plan (adopted Sept 25, 2025) in the footnotes.
• Timeliness: Form filed Mar 3, 2026; filing includes transactions through Mar 2, 2026 and shows no indication of a late filing.

Context

• These transactions are primarily issuance of restricted and performance shares (acquisitions) combined with routine withholding/sales to cover related tax obligations. That pattern is common when awards vest and does not by itself indicate a buy/sell signal about company prospects.
• Performance shares will vest only if pre‑set objectives are met during the stated performance period; any further differences between granted and earned will be reported at the end of that period.