Horace Mann (HMN) Form 144: 5k-share insider sale follows 15k sold in Q2

Rhea-AI Filing Summary

Horace Mann Educators Corp. (HMN) filed a Form 144 disclosing a proposed sale of 5,000 common shares—acquired through restricted-stock vesting on 03/06/2024—to be executed around 01 July 2025 via Fidelity Brokerage Services on the NYSE. The filing lists an aggregate market value of $214,350, implying a per-share price of roughly $42.87. With 40,779,105 shares outstanding, the planned trade equals only 0.012 % of total equity.

The same beneficial owner, Marita Zuraitis, previously disposed of 15,000 shares in three separate sales between April and June 2025, generating gross proceeds of $638,675. No relationship to the issuer is specified in the form, and no Rule 10b5-1 plan adoption date is provided. The filer certifies awareness of no undisclosed material adverse information.

Because the volume is small relative to float and no operational data change is involved, direct financial impact on HMN is minimal. Still, the continued insider selling pattern may influence investor sentiment and warrants monitoring.

Positive

• Sale is immaterial in size, representing approximately 0.012 % of outstanding shares, limiting any dilution or price pressure.
• Timely Form 144 filing enhances disclosure, allowing investors to monitor insider activity.

Negative

• Pattern of consecutive monthly insider sales (20,000 shares including the planned sale) could signal reduced insider confidence.
• No disclosed 10b5-1 plan or relationship details leaves uncertainty about future selling cadence and governance context.

Insights

Securities Analyst

TL;DR: Small, routine insider sale—neutral fundamental impact but trend worth tracking.

The proposed 5,000-share sale represents only 0.012 % of HMN’s float, so liquidity and dilution effects are negligible. However, the trader has already liquidated 15,000 shares over the prior three months, suggesting a deliberate reduction in exposure. Without guidance on a 10b5-1 program or a stated use of proceeds, the pattern may be viewed cautiously by momentum and governance screens, yet it does not alter earnings outlook, capital allocation, or leverage ratios. I classify the filing as informational with neutral valuation impact.

Corporate Governance Expert

TL;DR: Recurrent insider selling slightly undermines confidence; modest negative governance signal.

Investors often interpret persistent insider liquidation as a soft governance red flag—particularly when disclosure omits a pre-arranged 10b5-1 plan. Here, four consecutive monthly transactions totaling 20,000 shares indicate a systematic exit strategy. While the absolute stake is small, the optics can weigh on sentiment, especially in mid-cap insurance names where insider ownership influences alignment narratives. The absence of declared relationship fields also reduces transparency. Overall governance impact is minor but tilts negative.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	5000	214350.00	40779105	07/01/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	03/06/2024	Restricted Stock Vesting	Issuer			5000	03/06/2024	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Marita Zuraitis 1 Horace Mann Plaza Springfield IL 62715-0001	Common	04/01/2025	5000	215456.84
Marita Zuraitis 1 Horace Mann Plaza Springfield IL 62715-0001	Common	05/01/2025	5000	207018.81
Marita Zuraitis 1 Horace Mann Plaza Springfield IL 62715-0001	Common	06/02/2025	5000	216200.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Horace Mann (HMN) shares are proposed for sale in the July 2025 Form 144?

The filing covers 5,000 common shares.

When is the expected sale date for the 5,000 HMN shares?

The approximate sale date stated is July 1, 2025.

How were the shares to be sold originally acquired?

They were obtained through restricted-stock vesting on 03/06/2024.

How many HMN shares has the filer sold in the last three months?

The filer previously sold 15,000 shares between April and June 2025.

What percentage of Horace Mann’s outstanding shares does the proposed sale represent?

Approximately 0.012 % of the 40,779,105 shares outstanding.

Which broker and exchange will handle the transaction?

The sale will be executed through Fidelity Brokerage Services LLC on the NYSE.