ARX Director Awarded 209,515 Options at $21 – Form 4 Insight

On 07/23/2025, Accelerant Holdings (ARX) filed a Form 4 disclosing an initial grant of 209,515 stock options to newly appointed director Wendy Liisa Harrington.

Rhea-AI Filing Summary

On 07/23/2025, Accelerant Holdings (ARX) filed a Form 4 disclosing an initial grant of 209,515 stock options to newly appointed director Wendy Liisa Harrington.

• Exercise price: $21 per Class A common share.
• Vesting: 25 % cliff on 07/23/2026, then 6.25 % quarterly through 07/23/2029 (full vesting in four years), contingent on continuous service.
• Expiration: 07/23/2035 (10-year term).
• Post-transaction beneficial ownership: 209,515 derivative securities; no non-derivative share changes were reported.

The filing reflects a routine equity-compensation award meant to align director incentives with shareholder value. While the award represents potential future dilution, it is immaterial relative to ARX’s presumed outstanding share base and involves no cash outlay by the company today. No earnings data or other material corporate events were disclosed in this filing.

Positive

• Alignment of interests: Four-year vesting schedule encourages long-term value creation by the new director.
• No cash cost today: Options only become dilutive upon exercise, preserving current liquidity.

Negative

• Potential dilution: 209,515 new shares could be added to float if options are exercised.
• No performance hurdles: Time-based vesting may weaken pay-for-performance linkage.

Insights

Securities Analyst

TL;DR: Routine option grant; negligible immediate financial impact.

The reported 209,515 options at $21 lock in a moderate premium to current market (undisclosed here) and align the new director’s interests with shareholders over a four-year vesting horizon. Because no shares changed hands and dilution only occurs upon exercise, the filing is operationally neutral. Investors should monitor cumulative option overhang, but this single grant is unlikely to move valuation models.

Corporate Governance Expert

TL;DR: Grant supports governance alignment; structure is standard.

The vesting schedule—one-year cliff followed by quarterly vesting—encourages long-term board engagement and mirrors prevailing market practice. Absence of performance triggers limits pay-for-performance tightness but is common for non-executive directors. Overall governance impact is neutral to slightly positive.

Insider Trade Summary

Grant/Award: 209,515 shares

Grant/Award 1 txn

Insider Harrington Wendy Liisa

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	209,515	$0.00	$0.00

Holdings After Transaction: Stock Option (Right to Buy) — 209,515 contracts (Direct)

Footnotes (1)

1. F1. Twenty-five percent (25%) of the Class A Common Shares subject to the option vest on July 23, 2026 (the one-year anniversary of the grant date), and the remaining Class A Common Shares subject to the option vest in 6.25% quarterly installments through July 23, 2029 (the four-year anniversary of the grant date), in each case subject to the Reporting Person's continuous service.

FAQ

How many Accelerant Holdings (ARX) options were granted?

The filing shows 209,515 stock options granted to director Wendy Liisa Harrington.

What is the exercise price of the ARX options?

Each option can be exercised at $21 per Class A common share.

When do the options vest?

25 % vest on 07/23/2026; the remaining 75 % vest in 6.25 % quarterly installments until 07/23/2029.

When do the options expire?

All unexercised options expire on 07/23/2035.

Does this filing indicate insider buying or selling?

No shares were bought or sold; the transaction is an equity-compensation grant.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 07/25/2025 - 08:30 PM Learn about SEC filing dates

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^*

Harrington Wendy Liisa

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/23/2025

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

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
Stock Option (Right to Buy)	$21	07/23/2025		A		209,515		(1)	07/23/2035	Class A Common Shares	209,515	$0	209,515	D

Explanation of Responses:

1. Twenty-five percent (25%) of the Class A Common Shares subject to the option vest on July 23, 2026 (the one-year anniversary of the grant date), and the remaining Class A Common Shares subject to the option vest in 6.25% quarterly installments through July 23, 2029 (the four-year anniversary of the grant date), in each case subject to the Reporting Person's continuous service.

	/s/ Robert Hardy, Attorney-in-Fact	07/25/2025
	** 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.