[Form 4] HILLTOP HOLDINGS INC. Insider Trading Activity

Rhea-AI Filing Summary

Hilltop Holdings director and Hilltop Securities Chairman Jonathan S. Sobel acquired 108.3515 shares of Hilltop common stock through dividend reinvestment at an effective price of $0.00, increasing his total reported beneficial ownership to 127,537.0455 shares. The transaction is reported as a non-derivative acquisition and the ownership is shown as direct. The filing identifies the acquisition code and notes the shares were obtained pursuant to the reinvestment of dividends.

Positive

• Insider increased direct ownership by 108.3515 shares through dividend reinvestment
• Transparency maintained with a Form 4 reporting the non-derivative acquisition and resulting beneficial ownership

Negative

• None.

Insights

Securities Analyst

TL;DR: A routine dividend reinvestment modestly increased an insider's direct stake; not materially dilutive or transformative.

The reported acquisition of 108.3515 shares via dividend reinvestment is a standard method for insiders to increase holdings without a cash purchase. The price reported as $0.00 reflects reinvested dividends rather than a market purchase. The resulting direct beneficial ownership of 127,537.0455 shares provides continuity in insider alignment with shareholders but is not a material change relative to typical institutional or company-wide share counts. No derivative transactions or dispositions were reported.

Corporate Governance Expert

TL;DR: Transaction is a routine corporate administration event; it signals ongoing insider participation but lacks material impact.

As chairman of Hilltop Securities and a director, the reporting person increasing holdings via dividend reinvestment is consistent with retention and alignment practices. The form discloses direct ownership and explicitly states the acquisition resulted from dividend reinvestment. There are no indications of option exercises, sales, or changes in control. For governance review, this is a routine disclosure that maintains transparency on insider holdings.

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
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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^*

SOBEL JONATHAN S

(Last) (First) (Middle)

6565 HILLCREST AVE

(Street)

DALLAS TX 75205

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Hilltop Holdings Inc. [ HTH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Hilltop Securities Chairman

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

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
Common Stock	08/29/2025	09/02/2025	A		108.3515(1)	A	$0.00	127,537.0455	D

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

Explanation of Responses:

1. Shares acquired pursuant to the reinvestment of dividends.

Remarks:

	/s/ Jonathan S. Sobel	09/04/2025
	** 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 transaction did Hilltop Holdings (HTH) director Jonathan S. Sobel report?

The report shows acquisition of 108.3515 shares of common stock through dividend reinvestment.

How many Hilltop (HTH) shares does Jonathan S. Sobel beneficially own after the transaction?

The filing reports total beneficial ownership of 127,537.0455 shares following the acquisition.

Was the Form 4 transaction for Hilltop (HTH) a purchase, sale, or reinvestment?

The filing explicitly states the shares were acquired pursuant to reinvestment of dividends.

Did the Form 4 report any derivative transactions or dispositions by Jonathan S. Sobel?

No derivative securities or dispositions are reported; the filing shows a non-derivative acquisition only.

What price was reported for the shares acquired by the Hilltop (HTH) insider?

The Form 4 lists the price as $0.00, consistent with shares received via dividend reinvestment.