Burkhart John A III 4

What Happened

• John A. Burkhart III, President, U.S. P&C of Skyward Specialty Insurance Group (SKWD), had previously awarded performance share units (PSUs) settle and be converted into common shares and also received new equity awards on Feb 25, 2026. The filing shows 4,198 shares acquired via conversion/settlement of derivatives (code M) and 1,652 shares withheld (code F) to cover tax withholding at $45.89/share (total withholding value $75,810). On the same day he was granted a 7,210 RSU award and two separate 7,210 PSU awards (each 7,210 units).

Key Details

• Transaction dates: primary activity reported Feb 25, 2026 (settlement/grants); tax-withholding disposition recorded Feb 26, 2026. Filing date: Feb 27, 2026 (timely).
• Specifics: 4,198 shares acquired via conversion/exercise of derivative (no cash price reported), 1,652 shares withheld at $45.89 for $75,810; earlier-listed 3,619 PSUs (from a 2023 award) are reflected as settled. New awards: 7,210 RSUs (vest 1/1/2029 if service continues) and two 7,210 PSU grants (performance-based, vest 12/31/2028; payouts 0–200% per award).
• Shares owned after the transactions: not specified in this Form 4.
• Footnotes: withholding (F) was issuer-mandated to satisfy tax obligations (not a discretionary sale). Each RSU/PSU represents the right to receive one share upon settlement.

Context

• These were not open-market purchases or discretionary sales; the activity primarily reflects settlement of long‑term compensation (PSUs/RSUs) and routine tax withholding. The tax withholding is effectively a net settlement rather than a voluntary sale. New RSU/PSU grants are subject to future service and performance vesting conditions.