Adler Brooke 4

What Happened
Brooke Adler, Secretary of American Coastal Insurance Corp (ACIC), converted/exercised derivative awards on May 7, 2026, resulting in a total of 19,659 underlying shares. Of those, 11,234 shares were retained (acquired at $0.00) and 8,425 shares were disposed. The filing shows 2,737 shares were sold/withheld to cover taxes at $10.85 for $29,696, plus sales of 175 shares and 349 shares at $11.31 for $1,979 and $3,947 respectively — total proceeds reported of about $35,622.

Key Details

• Transaction date: May 7, 2026; Form 4 filed May 11, 2026.
• Activity: Multiple exercises/conversions of derivative awards (transaction code M) and a tax withholding/disposition (code F).
• Shares involved: 19,659 underlying shares from exercises/conversions; 11,234 retained, 8,425 disposed.
• Cash amounts: 2,737 shares withheld for taxes at $10.85 = $29,696; other disposals (175 @ $11.31 = $1,979; 349 @ $11.31 = $3,947); total proceeds ≈ $35,622.
• Footnotes: Awards include stock units, restricted stock units (vest over 3 years), performance units (vesting over 3 years; payout may be 0%–150% of target), and dividend equivalent units that vest with the underlying awards.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Timeliness: Filing date is May 11, 2026 for a May 7, 2026 transaction; no late-filing indicator was provided.

Context

• These transactions largely reflect award vesting/conversion and related tax withholding rather than an open-market buy decision. The presence of $0.00 exercise prices indicates vesting/conversion of RSUs/stock units rather than paying cash to exercise options.
• Sales to cover taxes (code F) are routine when equity awards vest and do not necessarily signal a view on the company’s stock.