Employers Holdings (EIG) Director Reports 19 DERs Converted to 19 Shares

Rhea-AI Filing Summary

Steven P. Sorenson, a director of Employers Holdings, Inc. (EIG), reported a transaction dated 08/27/2025 converting 19 dividend equivalent rights (DERs) into the economic equivalent of 19 shares of common stock. The DERs accrued on previously granted vested restricted stock units (RSUs) for which delivery has been voluntarily deferred until six months after the director ceases board service; the DERs vest and become exercisable proportionately with the underlying RSUs. The filing indicates these DERs result in beneficial ownership of 19 shares held directly by the reporting person.

Insights

Financial Analyst

TL;DR: A director recorded a small, routine conversion of accrued dividend equivalents into 19 shares; immaterial to company valuation.

This Form 4 documents a non-cash, administrative change in insider holdings: dividend equivalent rights tied to vested RSUs were exercised or converted to the economic equivalent of 19 common shares. The transaction does not represent an open-market purchase or sale and involves a small absolute share count relative to a public insurer. There is no disclosure of new cash consideration, nor indications of broader insider buying or selling activity. For investors, this is a routine reporting of deferred-compensation mechanics rather than a signal of material insider sentiment.

Corporate Governance Expert

TL;DR: Routine governance disclosure showing deferred-compensation mechanics; no governance red flags.

The filing clarifies that the director had previously elected to defer delivery of vested RSUs until six months after leaving the board and that associated dividend equivalent rights accrue and vest with those RSUs. This is consistent with standard deferred-compensation and insider-reporting practices. The reported 19 DERs converting to 19 shares is a small, procedural event reflecting plan terms rather than any change in board composition, related-party transactions, or policy exceptions.

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

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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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sorenson Steven P

(Last) (First) (Middle)

5340 KIETKE LANE

SUITE 202

(Street)

RENO NV 89511

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Employers Holdings, Inc. [ EIG ]

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)
08/27/2025

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
Dividend Equivalent Rights	(1)	08/27/2025		A		19		(1)	(1)	Common Stock, par value $0.01	19	$0	19	D

Explanation of Responses:

1. The dividend equivalent rights ("DERs") accrued on vested restricted stock units ("RSUs") previously granted to the reporting person where the reporting person has voluntarily deferred delivery of such RSUs until six months following termination of service on the board of directors. The DERs become exercisable proportionately with the RSUs to which they relate. Each DER is the economic equivalent of one share of common stock of Employers Holdings, Inc.

Remarks:

	/s/ Lori A. Brown, attorney in fact	08/28/2025
	** 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.

FAQ

What did the EIG Form 4 filed by Steven P. Sorenson report?

The Form 4 reports conversion of 19 dividend equivalent rights (DERs) tied to vested RSUs into the economic equivalent of 19 shares of Employers Holdings, Inc.

When was the transaction reported on the EIG Form 4 executed?

The transaction date reported in the Form 4 is 08/27/2025.

Why were dividend equivalent rights (DERs) converted instead of RSUs delivered?

The reporting person voluntarily deferred delivery of vested RSUs until six months after termination of board service; the DERs are the economic equivalents and vest proportionately with the RSUs.

Does the Form 4 show a cash purchase or open-market trade for EIG shares?

No. The filing documents conversion of DERs tied to deferred RSUs, not a cash purchase or sale executed on the open market.

How many shares does the reporting person beneficially own after this transaction?

Following the reported transaction, the Form 4 shows beneficial ownership of 19 shares attributable to the converted DERs.