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

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.

Insights

Equity Analyst

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.

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
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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).
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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.