[Form 4] HILLTOP HOLDINGS INC. Insider Trading Activity

Rhea-AI Filing Summary

Jonathan S. Sobel, a director and Hilltop Securities Chairman, reported three separate open-market purchases of Hilltop Holdings Inc. (HTH) common stock in August 2025. On 08/14/2025 he acquired 10,000 shares at a weighted-average price of $32.70, bringing his beneficial ownership to 37,428.694 shares. On 08/15/2025 he acquired 10,000 shares at a weighted-average price of $32.37, increasing ownership to 47,428.694 shares. On 08/18/2025 he acquired 10,000 shares at a weighted-average price of $31.97, increasing ownership to 57,428.694 shares. Each purchase is reported as direct ownership. The filings state the prices are weighted averages with specified price ranges and that Mr. Sobel will provide detailed per-transaction price breakdowns upon request.

Positive

• Director-level insider increased direct holdings by 30,000 shares via three open-market purchases
• Transparent reporting with weighted-average prices and stated willingness to provide per-trade price details on request
• All transactions reported as direct ownership, with updated beneficial ownership figures after each purchase

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider director purchased 30,000 HTH shares across three days at ~$32 each, increasing direct holdings by 30,000 shares.

The transactions are standard open-market acquisitions reported on Form 4. The purchases were executed on 08/14/2025, 08/15/2025 and 08/18/2025 for 10,000 shares each at weighted-average prices of $32.70, $32.37 and $31.97 respectively. Reporting shows direct beneficial ownership increases to 57,428.694 shares. The filing discloses weighted-average price ranges and an undertaking to provide per-trade price details if requested. Without information on total outstanding shares or prior ownership percentage, the material impact on ownership percentage cannot be determined from this filing alone.

Corporate Governance Expert

TL;DR: Director and Hilltop Securities Chairman made routine open-market purchases and formally disclosed weighted-average pricing ranges.

The Form 4 shows the reporting person holds roles of director and Hilltop Securities Chairman and filed as a single reporting person. All acquisitions are listed as direct and there are no derivative transactions or dispositions reported. The explanatory footnotes document weighted-average price ranges for each trade date and provide an explicit offer to supply granular per-trade pricing to the company, shareholders or SEC staff. The filing is complete for the transactions disclosed and is consistent with Section 16 reporting obligations.

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

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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)
08/14/2025

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	08/14/2025		P		10,000	A	$32.7(1)	37,428.694	D
Common Stock	08/15/2025		P		10,000	A	$32.37(2)	47,428.694	D
Common Stock	08/18/2025		P		10,000	A	$31.97(3)	57,428.694	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. The price reported is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $32.50 to $32.81, inclusive. The reporting person undertakes to provide to Hilltop Holdings Inc., any stockholder of Hilltop Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within such range.

2. The price reported is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $32.30 to $32.46, inclusive. The reporting person undertakes to provide to Hilltop Holdings Inc., any stockholder of Hilltop Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within such range.

3. The price reported is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $31.78 to $32.13, inclusive. The reporting person undertakes to provide to Hilltop Holdings Inc., any stockholder of Hilltop Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within such range.

Remarks:

	/s/ Jonathan S. Sobel	08/18/2025
	** 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

Who filed the Form 4 for HTH?

The Form 4 was filed by Jonathan S. Sobel, identified as a director and Hilltop Securities Chairman.

How many HTH shares did Jonathan S. Sobel purchase in August 2025?

He purchased a total of 30,000 shares across three purchases of 10,000 shares each on 08/14/2025, 08/15/2025 and 08/18/2025.

What were the prices of the HTH purchases reported on the Form 4?

The weighted-average prices reported were $32.70 on 08/14/2025, $32.37 on 08/15/2025 and $31.97 on 08/18/2025; each has a disclosed price range in the footnotes.

Did the filing report direct or indirect ownership for these HTH transactions?

Each acquisition is reported as direct ownership (form indicates "D").

What is Jonathan Sobel’s beneficial ownership after these transactions?

Beneficial ownership reported after each trade was 37,428.694, 47,428.694 and 57,428.694 shares respectively.