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Accelerant Form 4: Jeffrey Radke Receives 28M+ Shares via Unit Conversion

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

On 07/25/2025, Accelerant Holdings (ARX) Co-Founder, CEO, director and 10% owner Jeffrey L. Radke filed a Form 4 reporting the conversion of his limited-partner interests in Accelerant Holdings LP into Class A common shares as part of the company’s initial public offering.

  • Direct acquisition: 33,464 Class A shares.
  • Indirect via Badly Bent LLC: 27,945,395 Class A shares (Radke manages the LLC’s sole member; disclaims beneficial ownership beyond pecuniary interest).
  • Indirect via family trust: 249,828 Class A shares held for the benefit of his spousal equivalent (Radke disclaims beneficial ownership beyond pecuniary interest).

The exchanges were executed at a stated $0 conversion price; no shares were disposed of and no open-market transactions occurred. Radke’s post-transaction beneficial holdings equal the amounts listed above, split between direct and indirect ownership.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: Large IPO-related conversion; insider retains sizeable stake, no cash involved, market impact minimal.

The filing documents a mechanical exchange of partnership units for Class A shares concurrent with Accelerant’s IPO. Because the exchange is one-for-one with a $0 exercise price, it neither injects cash nor signals open-market buying. Radke now controls roughly 28.2 million shares, mostly through an LLC, underscoring significant insider ownership. As there is no sale, dilution or valuation metric disclosed, the event is procedurally important but unlikely to move the stock absent broader IPO developments.

Insider RADKE JEFFREY L
Role Co-Founder, CEO
Type Security Shares Price Value
Conversion LP Interests of Accelerant Holdings LP 3,265 $0.00 --
Conversion LP Interests of Accelerant Holdings LP 204,207,109 $0.00 --
Conversion LP Interests of Accelerant Holdings LP 24,372 $0.00 --
Conversion Class A Common Shares 33,464 $0.00 --
Conversion Class A Common Shares 27,945,395 $0.00 --
Conversion Class A Common Shares 249,828 $0.00 --
Holdings After Transaction: LP Interests of Accelerant Holdings LP — 0 shares (Direct); LP Interests of Accelerant Holdings LP — 0 shares (Indirect, By LLC); Class A Common Shares — 33,464 shares (Direct); Class A Common Shares — 27,945,395 shares (Indirect, By LLC)
Footnotes (1)
  1. In connection with the Issuer's initial public offering, these limited partnership interests of Accelerant Holdings LP were exchanged for Class A Common Shares of the Issuer in proportion to the economic interests represented by the limited partnership interests. These securities are held directly by Badly Bent LLC. The Reporting Person is the manager of the sole member of Badly Bent LLC. The Reporting Person disclaims beneficial ownership over these securities, except to the extent of his pecuniary interest therein. These securities are held in trust for the benefit of the Reporting Person's spousal equivalent, who is the trustee of the trust. The Reporting Person disclaims beneficial ownership over these securities, except to the extent of his pecuniary interest therein.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
RADKE JEFFREY L
(Last) (First) (Middle)
UNIT 106, WINDWARD 3
REGATTA OFFICE PARK, WEST BAY ROAD
(Street)
GRAND CAYMAN E9 KY1-1108
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Accelerant Holdings [ ARX ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
Co-Founder, CEO
3. Date of Earliest Transaction (Month/Day/Year)
07/25/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Shares 07/25/2025 C 33,464 A (1) 33,464 D
Class A Common Shares 07/25/2025 C 27,945,395 A (1) 27,945,395 I By LLC(2)
Class A Common Shares 07/25/2025 C 249,828 A (1) 249,828 I By Trust(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
LP Interests of Accelerant Holdings LP (1) 07/25/2025 C 3,265 (1) (1) Class A Common Shares 33,464 $0 0 D
LP Interests of Accelerant Holdings LP (1) 07/25/2025 C 204,207,109 (1) (1) Class A Common Shares 27,945,395 $0 0 I By LLC(2)
LP Interests of Accelerant Holdings LP (1) 07/25/2025 C 24,372 (1) (1) Class A Common Shares 249,828 $0 0 I By Trust(3)
Explanation of Responses:
1. In connection with the Issuer's initial public offering, these limited partnership interests of Accelerant Holdings LP were exchanged for Class A Common Shares of the Issuer in proportion to the economic interests represented by the limited partnership interests.
2. These securities are held directly by Badly Bent LLC. The Reporting Person is the manager of the sole member of Badly Bent LLC. The Reporting Person disclaims beneficial ownership over these securities, except to the extent of his pecuniary interest therein.
3. These securities are held in trust for the benefit of the Reporting Person's spousal equivalent, who is the trustee of the trust. The Reporting Person disclaims beneficial ownership over these securities, except to the extent of his pecuniary interest therein.
/s/ Robert Hardy, Attorney-in-Fact 07/29/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

How many Accelerant Holdings (ARX) shares did CEO Jeffrey Radke acquire?

A total of 28,228,687 Class A shares were credited to him: 33,464 direct, 27,945,395 via an LLC, and 249,828 via a trust.

Was cash paid for the shares reported in this Form 4?

No. The shares were received through a $0 conversion of limited-partner interests, not a cash purchase.

Did Jeffrey Radke sell any ARX shares in this filing?

No. The Form 4 shows only acquisitions; there were no disposals of Class A shares.

What entities hold Radke’s indirect shares in Accelerant Holdings?

Indirect holdings are through Badly Bent LLC (27.9 M shares) and a family trust (249.8 K shares).

Why were partnership units exchanged for Class A shares?

Per the filing, the exchange occurred in connection with Accelerant’s IPO, converting LP interests into equivalent economic ownership in Class A stock.