Accelerant Holdings Insider Now Owns 7.1 M Common Shares Post-IPO

Rhea-AI Filing Summary

Form 4 highlights for Accelerant Holdings (ARX): Co-founder & Chief Underwriting Officer Francis J. O’Neill reported transactions tied to the company’s July 2025 IPO.

• LP exchange: 163,616,981 limited-partnership units of Accelerant Holdings LP were exchanged for 7,136,705 Class A common shares (Code C).
• Automatic conversion: 7,975 Convertible Preference Shares converted at a 1-for-1 rate into 7,975 Class A shares (Code C).
• Redemption: 22,190 Redeemable Preference Shares were redeemed by the issuer for $31.55 per share, eliminating that derivative position (Code D).

After these IPO-related restructurings, O’Neill directly owns 7,144,680 Class A shares and no derivative securities. All transactions were recorded on 25 Jul 2025; the form was signed 29 Jul 2025.

The filings reflect a shift from pre-IPO partnership and preference structures to a straightforward common-equity stake, aligning the executive’s incentives with public shareholders while withdrawing roughly $0.70 million via share redemptions.

Positive

• Executive retains 7.1 million Class A shares post-IPO, aligning long-term incentives with public investors and avoiding immediate sell-down pressure.

Negative

• Issuer paid ≈US$0.7 million to redeem preference shares, representing a minor cash outflow concurrent with the IPO.

Insights

Equity Capital Markets Analyst

TL;DR: Insider’s pre-IPO units convert to 7.1 m common shares; ~$0.7 m redeemed prefs—no open-market buying or selling.

The disclosure is largely mechanical. LP units and preference shares outstanding before the IPO were converted or redeemed on listing, a common step to simplify capital structure. O’Neill emerges with a sizeable 7.1 m share stake, signaling continued skin-in-the-game but not an incremental vote of confidence through cash purchase. The $31.55 redemption implies modest issuer cash outflow (~US$0.7 m) yet immaterial versus typical IPO proceeds. No sale pressure appears as all derivative positions now stand at zero. Impact: neutral for trading dynamics; beneficial alignment with new shareholders.

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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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^*

ONeill Francis James

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Co-Founder, Chief U/W Officer

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		7,136,705	A	(1)	7,136,705	D
Class A Common Shares	07/25/2025		C		7,975	A	(2)	7,144,680	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			163,616,981	(1)	(1)	Class A Common Shares	7,136,705	$0	0	D
Convertible Preference Shares	(2)	07/25/2025		C			7,975	(2)	(2)	Class A Common Shares	7,975	$0	0	D
Redeemable Preference Shares	(3)	07/25/2025		D(3)			22,190	(3)	(3)	Common Shares	22,190	$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 shares of the Issuer's Preference Shares automatically converted into Class A Common Shares of the Issuer at a 1-for-1 conversion rate.

3. 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.
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FAQ

How many Accelerant Holdings (ARX) shares does Francis O’Neill now own?

He holds 7,144,680 Class A common shares directly after the conversions.

Were the shares bought on the open market?

No. The shares resulted from conversions and exchanges tied to the IPO, not open-market purchases.

What was the redemption price for the Redeemable Preference Shares?

They were redeemed at $31.55 per share for a total of about US$0.70 million.

Does the filing indicate insider selling pressure?

No derivative securities remain, and no common shares were sold; therefore, no immediate selling pressure is signaled.

Why were LP interests exchanged for common shares?

The exchange simplifies the capital structure for public markets by converting partnership units into publicly traded Class A shares during the IPO.