SCHAMBOW MARC JON 4

What Happened

• Marc Jon Schambow, Senior Vice President and Chief Claims Officer (sub), exercised stock options on 2026-02-12. He exercised 957 options at $71.19 (acquiring 957 shares, value listed $68,129) and 903 options at $85.67 (acquiring 903 shares, value listed $77,360), for a total of 1,860 shares and $145,489 in gross value.
• To satisfy tax/exercise obligations, 125 shares (valued $20,501) and 177 shares (valued $29,030) were withheld (total 302 shares, $49,531). Net shares delivered to Schambow after withholding: 1,558.
• The filing shows the derivative instruments were disposed (recorded at $0) as part of the option exercises — i.e., the options were converted into shares.

Key Details

• Transaction date: 2026-02-12. Exercise prices: $71.19 (957 shares) and $85.67 (903 shares).
• Gross value of exercised shares: $145,489. Shares withheld for taxes/exercise: 302 shares ($49,531).
• Net shares issued to insider: 1,558 (1,860 exercised minus 302 withheld).
• Footnote: the option vests in three annual installments beginning on the first anniversary of the grant.
• Shares owned after the transaction are not specified in the provided filing.
• Filing date: 2026-02-17 — filed one business day late relative to the standard two-business-day Form 4 deadline.

Context

• This was an option exercise (transaction code M) with shares withheld to cover tax/exercise obligations (transaction code F). The zero-dollar "Disposed (Derivative)" entries reflect the cancellation/conversion of the option instruments upon exercise.
• Withholding to cover taxes is routine and does not by itself indicate a stock sale or cash-out intention. This activity is common when options vest and are exercised.