[Form 4] HILLTOP HOLDINGS INC. Insider Trading Activity

Rhea-AI Filing Summary

Hilltop Holdings Inc. (HTH) Form 4 filing: Director and Hilltop Securities Chairman Jonathan S. Sobel reported the acquisition of 221 shares of Hilltop Holdings common stock on 30 June 2025.

• Transaction type: “A” (acquired). The shares were issued under the company’s 2020 Equity Incentive Plan as quarterly board compensation, not an open-market purchase.
• Average price: $29.852 per share, calculated from the 15-day closing-price average ending 30 June 2025 (footnote 2).
• Post-transaction ownership: Sobel now directly holds 26,471.694 shares.
• Insider role: Director and Officer (Hilltop Securities Chairman).

No derivative securities were reported. The filing represents routine equity compensation, adding less than 1% to Sobel’s total position and is unlikely to be financially material to Hilltop Holdings’ outstanding share count.

Positive

• Continued insider equity accumulation aligns director incentives with shareholders, a modestly positive governance indicator.

Negative

• Immaterial transaction size (~$6.6k) limits any signaling value and offers no meaningful insight into future operating performance.

Insights

Financial Analyst

TL;DR Small, routine equity-compensation grant; minimal market impact but modest positive governance signal.

The Form 4 shows an automatic issuance of 221 shares valued at c.$6,600—immaterial relative to Hilltop’s ~103 million shares outstanding and Sobel’s existing stake. Because the shares stem from the company’s equity compensation plan, the transaction does not reflect discretionary insider buying. Nonetheless, continual share accumulation by directors aligns their interests with shareholders and is marginally positive from a governance standpoint. Overall impact on valuation or liquidity is negligible.

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^*

WEBB CARL B

(Last) (First) (Middle)

6565 HILLCREST AVENUE

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

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	06/30/2025		A		443(1)	A	$29.852(2)	128,450	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 Hilltop Holdings Inc. 2020 Equity Incentive Plan as compensation for services rendered as a director in the second calendar quarter of 2025.

2. Price per share calculated using the average closing price per share for the period from June 16, 2025 to June 30, 2025.

Remarks:

	/s/ Carl B. Webb	07/02/2025
	** 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.
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FAQ

How many Hilltop Holdings (HTH) shares did Jonathan S. Sobel acquire?

He received 221 shares on 30 June 2025.

What was the average acquisition price reported in the Form 4?

The shares were valued at $29.852 per share, based on the 15-day closing-price average.

What is Sobel’s total direct ownership after the transaction?

He now directly owns 26,471.694 HTH shares.

Was the transaction an open-market purchase?

No. The shares were issued under the 2020 Equity Incentive Plan as compensation for board service.

Does this filing indicate significant insider buying at HTH?

No. The grant is routine and financially immaterial, so it carries limited signaling weight for investors.