Crowley Andrew G. 4

What Happened

• Andrew G. Crowley, EVP & President, Markel Ventures, participated in Markel’s employee stock purchase plan on May 15, 2026, acquiring 60.256 shares valued at $100,000 (reported price $1,659.60 per share).
• On the same date 74.866 shares were disposed (code F) to cover an exercise price or tax liability, reported at $1,844.00 per share for a value of $138,053.
• Net effect based on the reported transactions: a decrease of roughly 14.61 shares (60.256 acquired minus 74.866 withheld).

Key Details

• Transaction date: 2026-05-15.
• Acquisition: 60.256 shares @ $1,659.60 = $100,000 (code J — other acquisition; ESPP).
• Disposal/withholding: 74.866 shares @ $1,844.00 = $138,053 (code F — payment of exercise price or tax liability).
• Shares owned after the transactions: not specified in the provided filing.
• Footnotes: F1 — shares acquired under the non‑qualified component of the MKL 2020 Employee Stock Purchase Plan; F2 — reporting based on MKL 401(k) plan balance as of March 31, 2026.
• Filing: Reported on 2026-05-19 for transactions dated 2026-05-15 (filing appears timely).

Context

• This appears to be routine ESPP participation with shares withheld to satisfy tax obligations (a common, administrative “cashless” withholding), not an open-market sell signal. Purchases via ESPPs are generally viewed as ongoing employee participation rather than a directional bet by the insider.