Adler Brooke 4

What Happened

• Adler Brooke, Secretary of American Coastal Insurance Corp (ACIC), exercised or converted 12,509 derivative units into shares on 2026-04-03 (reported as acquired at $0.00 per share). To satisfy tax withholding, 3,712 shares were surrendered at $10.97 per share for $40,721. Additional disposals tied to the conversion/exercise were reported: 5,627 and 2,813 shares (each reported with $0 proceeds) and smaller cash disposals (195 @ $11.31 = $2,205; 119 @ $11.85 = $1,410; 389 @ $11.31 = $4,400; 238 @ $11.85 = $2,820). Reported cash proceeds for the nonzero-priced disposals total $51,556; several conversions/disposals were reported with $0 proceeds.

Key Details

• Transaction date: April 3, 2026; Form 4 filed April 7, 2026 (filed within the usual two business-day window).
• Primary codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (share withholding).
• Shares acquired via conversion/exercise: 12,509 at $0.00 per share (per filing).
• Shares disposed/surrendered: total reported disposals sum to 13,093 shares (including 3,712 withheld for taxes); nonzero cash proceeds reported total $51,556.
• Shares owned after the transaction: not specified in the provided excerpt.
• Relevant footnotes: F1–F6 describe that stock units represent conditional rights to common stock, vesting schedules over three years (one-third periods), performance units may deliver 0%–150% of target shares depending on performance, and dividend equivalents vest with the underlying awards.

Context

• These entries reflect conversion/exercise of equity awards and routine withholding to cover tax obligations rather than an open-market purchase or sale driven by market timing. When equity awards are converted, companies commonly withhold or sell shares to satisfy tax withholding (a cashless/withholding settlement). The filing contains a mix of zero‑proceeds conversions and cash disposals associated with that settlement and award conversion.