Essent CEO exercises awards, covers tax with shares
Essent Group Ltd. director and CEO Mark Casale reported equity award-related transactions.
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
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Dividend equivalent units | 14,029 | $0.00 | $0.00 |
| Exercise | Common shares, par value $0.015 | 14,029 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common shares, par value $0.015 | 103,324 | $60.84 | $6.29M |
| holding | Common shares, par value $0.015 | -- | -- | -- |
Footnotes (2)
- F1. 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.
- F2. Represents shares delivered to issuer to satisfy tax withholding obligations upon the vesting of restricted shares.
FAQ
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What insider transactions did Essent Group Ltd. (ESNT) report for Mark Casale?
What are dividend equivalent units in the Essent Group Ltd. (ESNT) Form 4?
How were the Essent Group Ltd. (ESNT) equity award transactions priced in this Form 4?
AI-generated analysis. How Rhea-AI works. Not financial advice.