Burkhart John A III 4
4 · Skyward Specialty Insurance Group, Inc. · Filed May 8, 2026
Research Summary
AI-generated summary of this filing
Skyward (SKWD) President John Burkhart Receives PSU Shares
What Happened John A. Burkhart III, President, US P&C of Skyward Specialty Insurance Group (SKWD), had Performance Share Units (PSUs) settle on May 6, 2026. The settlement converted 3,619 PSUs into 4,813 common shares (reflecting a performance multiplier), 1,894 shares were withheld to cover tax withholding obligations ($43.68/share, $82,730), leaving a net increase of 2,919 shares to Burkhart’s beneficial ownership. The conversion of the PSUs is reported as a derivative exercise/settlement (code M) and the withholding is reported as tax withholding (code F).
Key Details
- Transaction date: 2026-05-06; Form filed 2026-05-08 (timely).
- Shares delivered on settlement: 4,813 shares (acquired).
- Shares withheld for taxes: 1,894 shares at $43.68 = $82,730 (disposed; mandated by issuer).
- PSUs cancelled/converted: 3,619 PSUs (disposed as derivative instrument in the filing).
- Net shares retained by insider: 2,919 shares (4,813 − 1,894).
- Footnotes: Each PSU equals one share; the 3,619 PSUs were awarded Feb 27, 2023 and covered performance 1/1/2023–12/31/2025; the award fully vested and was settled after Compensation Committee certification. The tax withholding was mandatory and not a discretionary sale.
- Shares owned after transaction: Not provided in the excerpt of this filing.
Context This was a settlement of performance-based equity (PSUs), not an open-market purchase or voluntary sale. The issuer withheld shares to satisfy tax obligations (a routine administrative step). The number of shares delivered (4,813) exceeds the original PSU award (3,619), indicating a positive performance multiplier was applied at settlement. Such PSU settlements are standard compensation events and do not by themselves indicate insider buying or selling sentiment beyond receipt of earned compensation.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-05-06+4,813→ 39,630 total - Tax Payment
Common Stock
[F2]2026-05-06$43.68/sh−1,894$82,730→ 37,736 total - Exercise/Conversion
2023 LTIP - PSUs
[F3][F4]2026-05-06−3,619→ 0 total→ Common Stock (3,619 underlying)
Footnotes (4)
- [F1]Represents the number of shares that were acquired by the Reporting Person in connection with the settlement of the Performance Share Units ("PSUs") listed in Line I of Table II.
- [F2]The disposition reported on this Form 4 represents shares withheld to cover tax withholding obligations in connection with the vesting and settlement of the PSUs listed in Line I of Table II. The disposition is mandated by the Issuer and does not represent a discretionary transaction by the Reporting Person.
- [F3]Each PSU represents the right to receive one share of the Issuer's Common Stock upon settlement.
- [F4]On February 27, 2023, the Reporting Person was awarded 3,619 PSUs. The PSUs are subject to obtaining specified performance criteria from January 1, 2023 through December 31, 2025. The number of PSUs subject to vest under this award can range from 0% to 150% of the amount shown. This award fully vested on December 31, 2025 and settled upon certification by the Compensation Committee of the Board of Directors.