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Accelerant Holdings Insider Gains 17.5M Class A Shares via IPO Conversion

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

Rhea-AI Filing Summary

Accelerant Holdings (ARX) – Form 4 insider filing: Co-Founder, Director and Head of Distribution Christopher Lee-Smith reported IPO-related equity conversions dated 25 Jul 2025.

  • 17,509,884 Class A Common Shares were received under transaction code C, arising from the exchange of limited-partnership interests in Accelerant Holdings LP. Lee-Smith now directly owns the same number of Class A shares.
  • Table II shows the mechanics: 107,086,944 LP interests converted into the above Class A shares; all derivative LP units now show 0 remaining.
  • 62,132 Redeemable Preference Shares were redeemed by the issuer at $31.55 each (code D). Post-redemption, the preference stake is 0.

No open-market purchases or sales occurred; the filing simply documents the restructuring of Lee-Smith’s pre-IPO holdings into the public share class. The insider retains a sizeable equity position and remains both a director and executive officer. No other financial metrics or guidance were disclosed.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: Large insider conversion, no sale—neutral signal

The Form 4 reflects IPO housekeeping: LP interests and preference shares were exchanged or redeemed, giving Christopher Lee-Smith direct ownership of 17.5 M Class A shares. Because no shares were sold into the market, the action neither dilutes other holders nor suggests insider pessimism. It confirms the capital structure shift typical at IPO close and highlights Lee-Smith’s continued commitment to ARX. The $31.55 redemption price for preference shares offers a reference point but involves only 62 k shares, immaterial to float. Overall impact is informational, not market-moving.

Insider Lee-Smith Christopher
Role Co-Founder, Head of Distrib.
Type Security Shares Price Value
Conversion LP Interests of Accelerant Holdings LP 107,086,944 $0.00 --
Disposition Redeemable Preference Shares 62,132 $31.55 $1.96M
Conversion Class A Common Shares 17,509,884 $0.00 --
Holdings After Transaction: LP Interests of Accelerant Holdings LP — 0 shares (Direct); Redeemable Preference Shares — 0 shares (Direct); Class A Common Shares — 17,509,884 shares (Direct)
Footnotes (1)
  1. In connection with the Issuer's initial public offering ("IPO"), 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. In connection with the Issuer's IPO, these Redeemable Preference Shares were redeemed by the Issuer at a redemption price of $31.55 per share.
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*
Lee-Smith Christopher
(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 10% Owner
X Officer (give title below) Other (specify below)
Co-Founder, Head of Distrib.
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 17,509,884 A (1) 17,509,884 D
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 107,086,944 (1) (1) Class A Common Shares 17,509,884 $0 0 D
Redeemable Preference Shares (2) 07/25/2025 D(2) 62,132 (2) (2) Common Shares 62,132 $31.55 0 D
Explanation of Responses:
1. In connection with the Issuer's initial public offering ("IPO"), 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. In connection with the Issuer's IPO, these Redeemable Preference Shares were redeemed by the Issuer at a redemption price of $31.55 per share.
/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 Class A shares did Christopher Lee-Smith acquire in ARX's Form 4?

17,509,884 shares were acquired through conversion.

What transaction code was used for the share acquisition?

Code C – a conversion of securities.

Were any ARX shares sold by the insider?

No. The filing shows only conversions and a redemption, with no open-market sales.

What happened to the Redeemable Preference Shares?

All 62,132 shares were redeemed by the issuer at $31.55 per share.

What is Lee-Smith’s total direct ARX ownership after the transactions?

He directly owns 17,509,884 Class A shares.