Kestrel Group (KG) director awarded 5,718 restricted shares under 2025 equity plan

Rhea-AI Filing Summary

Brecher Joseph reported acquisition or exercise transactions in this Form 4 filing.

Kestrel Group Ltd director Brecher Joseph received a grant of 5,718 restricted common shares on June 10, 2026. The shares were awarded at no cash cost to him and were issued under the company’s 2025 Equity Incentive Plan.

These restricted shares will vest 100% on the first anniversary of the grant date, meaning they become fully his at that time if vesting conditions are met. After this award, he directly holds a total of 13,555 common shares of Kestrel Group Ltd.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Brecher Joseph

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Shares	5,718	$0.00	--

Holdings After Transaction: Common Shares — 13,555 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Restricted shares granted: 5,718 shares Grant price per share: $0.00 per share Total shares after grant: 13,555 shares +1 more

4 metrics

Restricted shares granted 5,718 shares Grant of common shares on June 10, 2026

Grant price per share $0.00 per share Reported transaction price for restricted share award

Total shares after grant 13,555 shares Director’s direct holdings following the award

Vesting schedule 100% after one year Restricted shares vest on first anniversary of grant date

Key Terms

restricted shares, 2025 Equity Incentive Plan, vest 100%, grant, award, or other acquisition

4 terms

restricted shares financial

"These restricted shares were granted on June 10, 2026 under the 2025 Equity Incentive Plan"

Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.

2025 Equity Incentive Plan financial

"granted on June 10, 2026 under the 2025 Equity Incentive Plan"

vest 100% financial

"and will vest 100% on the first anniversary of the grant date"

grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

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Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
hours per response:			0.5

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^*

Brecher Joseph

(Last) (First) (Middle)

11 BERMUDIANA ROAD, MAILBOXES SUITE 1141

(Street)

PEMBROKE HM 08

(City) (State) (Zip)

BERMUDA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Kestrel Group Ltd [ KG ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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 Shares	06/10/2026		A		5,718(1)	A	$0	13,555	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. These restricted shares were granted on June 10, 2026 under the 2025 Equity Incentive Plan and will vest 100% on the first anniversary of the grant date.

Remarks:

	/s/ Joseph Brecher	06/12/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Kestrel Group (KG) report for Brecher Joseph?

Kestrel Group reported that director Brecher Joseph received a grant of 5,718 restricted common shares on June 10, 2026. The award was made at no cash cost to him as part of the company’s equity-based compensation.

How many Kestrel Group (KG) shares does Brecher Joseph hold after this grant?

After the June 10, 2026 grant, Brecher Joseph directly holds 13,555 common shares of Kestrel Group. This total includes the newly awarded 5,718 restricted shares granted under the company’s 2025 Equity Incentive Plan.

What are the vesting terms of the 5,718 restricted Kestrel Group (KG) shares?

The 5,718 restricted common shares granted to Brecher Joseph will vest 100% on the first anniversary of the June 10, 2026 grant date. Full vesting means he gains unrestricted ownership if the vesting conditions are satisfied.

Was the Kestrel Group (KG) share grant to Brecher Joseph an open-market purchase?

No, the transaction was a grant or award of 5,718 restricted common shares at a reported price of $0.00 per share. It reflects equity compensation, not an open-market share purchase by the director.

Under which plan were Brecher Joseph’s restricted Kestrel Group (KG) shares granted?

The restricted shares were granted under Kestrel Group’s 2025 Equity Incentive Plan. This plan provides stock-based awards to align directors’ and employees’ interests with shareholders through equity compensation, including restricted share grants.