Burkhart John A III 4

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.