Madsen Sarah E 4

What Happened

• Sarah E. Madsen, Chief Legal Officer of United Fire Group (UFCS), had 660 shares withheld to cover tax liabilities tied to the vesting of restricted stock units (RSUs). The withholding was recorded at $38.53 per share for a total of approximately $25,430. This is a tax-withholding disposition, not an open-market sale.

Key Details

• Transaction date: 2026-02-21; Filing date: 2026-02-24.
• Price per share: $38.53; Total value: $25,430 (660 shares).
• Transaction code: F (tax withholding on vesting of RSUs).
• Footnote: F1 — payment of tax liability by withholding shares incident to RSU vesting.
• Shares owned after transaction: Not disclosed in the Form 4 filing.
• This is a routine tax withholding event and not necessarily a market-directed sale or purchase.

Context

• Withholding shares to cover taxes is a common administrative action when RSUs vest; the shares are surrendered to satisfy tax obligations rather than being sold in the open market by the insider. Such transactions generally provide limited information about the insider's view of the company’s prospects.