Ostergaard Torben 4

What Happened

• Torben Ostergaard, listed as CEO (Spinnaker), disposed of a total of 8,513 Hippo (HIPO) shares in mid-February 2026. On 2026-02-15 he relinquished 2,408 shares at $28.59 each to cover an exercise price or tax liability (value $68,849). On 2026-02-17 he sold 6,105 shares in an open-market transaction at a weighted average price of $28.57 (value $174,391). Combined proceeds were about $243,240. These were sales (routine dispositions), not purchases.

Key Details

• Transaction dates and prices:
  • 2026-02-15: 2,408 shares @ $28.59 (payment of exercise price/tax withholding) — $68,849.
  • 2026-02-17: 6,105 shares @ weighted avg $28.57 (open-market sale) — $174,391; executed in multiple trades at prices from $28.10 to $28.99.
• Footnotes of note:
  • Sales were effected pursuant to a Rule 10b5-1 trading plan dated August 22, 2025 (pre-arranged plan).
  • The open-market sale was executed in multiple trades; the filing reports a weighted average price and offers to provide trade-by-trade detail on request.
  • Filing notes include 42,427 RSUs held by the reporting person.
• Shares owned after transaction: not specified in the provided excerpt; the filing references RSUs (see above).
• Filing timeliness: Transaction dates 2026-02-15 and 2026-02-17; Form 4 filed 2026-02-18 — appears to be filed within the typical Form 4 reporting window (not marked late).

Context

• The 2,408-share disposition labeled as payment of exercise price/tax liability typically reflects surrendering shares to cover taxes or option exercise costs (a routine administrative step), not a new market purchase or gift.
• The 6,105-share sale was conducted under a pre-established 10b5-1 plan, which is commonly used by insiders to sell shares on a set schedule to avoid timing issues; this generally indicates a pre-planned, routine sale rather than an ad hoc decision.