ACIC officer exercises awards, holds 210,546 shares
AMERICAN COASTAL INSURANCE Corp Chief Compliance/Risk Officer James Andy Gray reported equity award activity and related tax withholding.
Rhea-AI Filing Summary
AMERICAN COASTAL INSURANCE Corp Chief Compliance/Risk Officer James Andy Gray reported equity award activity and related tax withholding. On May 7, he exercised awards covering 6,619 shares of Common Stock and had 3,042 shares withheld to cover tax or exercise obligations at $10.85 per share.
Following these transactions, he directly owned 207,504 shares of Common Stock. He also continued to hold derivative awards, including performance stock units, restricted stock units, and dividend equivalent units, which generally vest over three years and convert into one share of common stock per unit subject to time-based and performance-based vesting conditions.
Positive
- None.
Negative
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Insider Trade Summary
6,619 shares exercised/converted
Exercise
6 txns
Insider
Gray James Andy
Role
Chief Compliance/Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 2,069 | $0.00 | $0.00 |
| Exercise | Performance Stock Units | 4,138 | $0.00 | $0.00 |
| Exercise | Dividend Equivalent Units | 137 | $11.31 | $2K |
| Exercise | Dividend Equivalent Units | 275 | $11.31 | $3K |
| Exercise | Common Stock | 8,826 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 3,042 | $10.85 | $33K |
Holdings After Transaction:
Restricted Stock Units — 6,349 contracts (Direct);
Performance Stock Units — 12,695 contracts (Direct);
Dividend Equivalent Units — 1,280 contracts (Direct);
Common Stock — 207,504 shares (Direct)
Footnotes (6)
- F1. Each stock unit represents a conditional right to receive one share of the company's common stock.
- F2. The restricted stock units are subject to vesting over three years with one third, rounded down to the nearest whole share of stock, vesting in each period.
- F3. The performance units are subject to vesting over three years with one third, rounded down to the nearest whole share of stock, vesting in each period.
- F4. The number of shares of common stock that will be delivered for each performance stock unit depends on the achievement of certain performance factors. Depending on actual performance, the number of shares of common stock delivered upon the vesting date (based on the terms outlined in the respective award agreement) can range from 0% to 150% of the number presented above.
- F5. The dividend equivalent units will vest proportionately with the underlying restricted stock units to which they relate.
- F6. The dividend equivalent units will vest proportionately with the underlying performance stock units to which they relate.
Key Figures
Tax-withholding shares: 3,042 shares
Tax-withholding price: $10.85/share
Shares from award exercises: 6,619 shares
+5 more
8 metrics
Tax-withholding shares
3,042 shares
Delivered at $10.85 per share on May 7 to cover obligations
Tax-withholding price
$10.85/share
Value used for 3,042-share tax-withholding disposition
Shares from award exercises
6,619 shares
Common Stock received from exercising equity awards on May 7
Common shares held after
210,546 shares
Direct ownership of ACIC Common Stock following transactions
Performance stock units remaining
12,695 units
Performance stock units outstanding after transaction date
Restricted stock units remaining
6,349 units
Restricted stock units outstanding after transaction date
Dividend equivalent units (type 1)
853 units
Dividend equivalent units linked to restricted stock units after activity
Dividend equivalent units (type 2)
427 units
Dividend equivalent units linked to performance stock units after activity
Key Terms
Restricted Stock Units, Performance Stock Units, Dividend Equivalent Units, conditional right, +2 more
6 terms
Restricted Stock Units financial
"The restricted stock units are subject to vesting over three years with one third..."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Performance Stock Units financial
"The performance units are subject to vesting over three years with one third..."
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
Dividend Equivalent Units financial
"The dividend equivalent units will vest proportionately with the underlying restricted stock units..."
Dividend equivalent units are bookkeeping credits that mirror cash dividends paid on actual shares, granted to holders of stock-based awards such as restricted stock units or deferred compensation. They matter to investors because they increase a company’s reported employee compensation cost and can lead to issuance of more shares or cash payouts over time, similar to extra pay linked to ownership that affects shareholder dilution and corporate cash flow.
conditional right financial
"Each stock unit represents a conditional right to receive one share of the company's common stock."
vesting financial
"The performance units are subject to vesting over three years with one third..."
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
performance factors financial
"The number of shares ... depends on the achievement of certain performance factors."
FAQ
What insider transactions did ACIC Chief Compliance/Risk Officer James Andy Gray report?
James Andy Gray exercised equity awards and had shares withheld for taxes. He converted performance, restricted, and dividend equivalent units into 6,619 shares of Common Stock and used 3,042 shares, valued at $10.85 each, to satisfy tax or exercise obligations.
What does the tax-withholding disposition in James Andy Gray’s ACIC Form 4 mean?
The tax-withholding disposition reflects 3,042 ACIC shares delivered at $10.85 each to pay tax or exercise obligations. This F-code transaction is not an open-market sale but an administrative step related to vesting or exercise of equity awards granted by AMERICAN COASTAL INSURANCE Corp.
What types of equity awards are involved in James Andy Gray’s ACIC Form 4 filing?
The filing includes performance stock units, restricted stock units, and dividend equivalent units tied to ACIC Common Stock. Each unit generally represents a conditional right to one share, vesting over three years, with performance units delivering between 0% and 150% of the stated amount based on performance.
How do performance stock units work for AMERICAN COASTAL INSURANCE (ACIC) executives like James Andy Gray?
Performance stock units vest over three years, one-third each period, and convert into ACIC common shares. The actual shares delivered can range from 0% to 150% of the target number, depending on achievement of specified performance factors described in the applicable award agreements.
AI-generated analysis. How Rhea-AI works. Not financial advice.
