Costanzo Brian J. 4

What Happened Brian J. Costanzo, Chief Financial Officer of Markel Group Inc. (MKL), acquired 1.844 shares on 2026-03-31 at $1,626.96 per share for a total of $3,000 under the qualified component of Markel’s 2020 Employee Stock Purchase Plan (ESPP). The filing also reports that 2.487 shares were added to his MKL 401(k) between December 31, 2025 and March 31, 2026 (reported based on the plan balance as of 3/31/2026). These transactions are purchases (insider buys), typically considered routine employee plan activity rather than open-market investment decisions.

Key Details

• Transaction date and price: 2026-03-31 — 1.844 shares at $1,626.96 each (total $3,000).
• Additional plan activity: 2.487 shares added to 401(k) between 12/31/2025 and 3/31/2026 (reported as of 3/31/2026).
• Shares owned after transaction: Not disclosed in the filing.
• Footnotes: F1 — ESPP purchase was under the qualified component and is exempt under Exchange Act Rule 16b-3(c). F2 — 401(k) additions reflect plan balance as of 3/31/2026.
• Filing timeliness: Report filed 2026-04-15 for a 3/31/2026 transaction — appears later than the typical 2-business-day Form 4 reporting window.

Context ESPP purchases and 401(k) contributions are common ways executives accumulate company stock via payroll deductions or plan-level transactions; they are generally routine and often exempt under Rule 16b-3 when part of a qualified plan. The filing shows purchases rather than sales, but the amounts here are modest and reflect plan participation rather than a large directional bet.