Essent Group (NYSE: ESNT) CEO logs award exercise and tax share delivery
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Essent Group Ltd. director and CEO Mark Casale reported equity award-related transactions. He exercised 14,029 dividend equivalent units, which are tied to unvested restricted stock or restricted stock units, resulting in the acquisition of 14,029 common shares at a price of $0.00 per share.
To cover tax withholding upon vesting of restricted shares, 103,324 common shares were delivered back to the issuer at $60.84 per share, a disposition characterized as payment of tax liability rather than an open-market sale. After these transactions, he directly owned 2,231,544 common shares and indirectly held 250,000 common shares through a trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
14,029 shares exercised/converted
Mixed
4 txns
Insider
CASALE MARK
Role
Chairman, CEO and President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Dividend equivalent units | 14,029 | $0.00 | -- |
| Exercise | Common shares, par value $0.015 | 14,029 | $0.00 | -- |
| Tax Withholding | Common shares, par value $0.015 | 103,324 | $60.84 | $6.29M |
| holding | Common shares, par value $0.015 | -- | -- | -- |
Holdings After Transaction:
Dividend equivalent units — 10,798 shares (Direct);
Common shares, par value $0.015 — 2,334,868 shares (Direct);
Common shares, par value $0.015 — 250,000 shares (Indirect, By Mark A Casale Trust)
Footnotes (1)
- The dividend equivalent rights accrued on unvested restricted stock award(s) and/or unvested restricted stock unit award(s) and become vested proportionately with the award(s) to which they relate. Each dividend equivalent unit is the economic equivalent of one common share of Essent Group Ltd. Represents shares delivered to issuer to satisfy tax withholding obligations upon the vesting of restricted shares.
FAQ
What insider transactions did Essent Group Ltd. (ESNT) report for Mark Casale?
Mark Casale reported exercising 14,029 dividend equivalent units into common shares at $0.00 per share and delivering 103,324 common shares to Essent Group Ltd. to satisfy tax withholding obligations tied to restricted share vesting.
What are dividend equivalent units in the Essent Group Ltd. (ESNT) Form 4?
The filing explains dividend equivalent rights accrue on unvested restricted stock or restricted stock units and vest proportionately with those awards. Each dividend equivalent unit is economically equivalent to one Essent Group Ltd. common share, and 14,029 such units were exercised into common shares.
How were the Essent Group Ltd. (ESNT) equity award transactions priced in this Form 4?
The 14,029 dividend equivalent units were exercised into common shares at $0.00 per share. The 103,324 shares delivered to Essent Group Ltd. for tax withholding purposes were valued at $60.84 per share, as disclosed in the Form 4 transaction details.