Director at Kestrel Group (KG) receives 5,718 restricted shares in equity award

Rhea-AI Filing Summary

Cohen Erik reported acquisition or exercise transactions in this Form 4 filing.

Kestrel Group Ltd director Cohen Erik received a grant of 5,718 restricted common shares on June 10, 2026. The award was made at no cash cost under the 2025 Equity Incentive Plan and will vest fully one year after the grant date, bringing his direct holdings to 8,055 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Cohen Erik

Role null

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

Holdings After Transaction: Common Shares — 8,055 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Restricted share grant: 5,718 shares Grant price: $0.0000 per share Post-transaction holdings: 8,055 shares +2 more

5 metrics

Restricted share grant 5,718 shares Grant to director Cohen Erik on June 10, 2026

Grant price $0.0000 per share Equity award, not open-market purchase

Post-transaction holdings 8,055 shares Direct ownership after grant

Vesting schedule 100% after 1 year Restricted shares vest on first anniversary of grant

Equity plan 2025 Equity Incentive Plan Plan under which award was granted

Key Terms

restricted shares, 2025 Equity Incentive Plan, vest, 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 financial

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

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

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^*

Cohen Erik

(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	8,055	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/ Erik G. Cohen	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 Ltd (KG) report for Cohen Erik?

Kestrel Group Ltd reported that director Cohen Erik received a grant of 5,718 restricted common shares. The shares were awarded at no cash cost as equity compensation under the 2025 Equity Incentive Plan, increasing his direct ownership position in the company.

When do the newly granted Kestrel Group (KG) restricted shares vest?

The 5,718 restricted shares granted to director Cohen Erik will vest 100% on the first anniversary of the June 10, 2026 grant date. This means the entire award becomes fully vested and unrestricted one year after the original grant date, subject to plan conditions.

How many Kestrel Group (KG) shares does Cohen Erik hold after this Form 4 grant?

After the restricted share grant, director Cohen Erik holds a total of 8,055 Kestrel Group common shares directly. This figure, reported in the Form 4, reflects his ownership immediately following the June 10, 2026 equity award transaction under the company’s incentive plan.

What plan governs the Kestrel Group (KG) restricted share grant to Cohen Erik?

The restricted shares granted to Cohen Erik were issued under Kestrel Group’s 2025 Equity Incentive Plan. That plan provides for equity-based compensation, and this specific award consists of 5,718 restricted common shares that vest fully one year after the June 10, 2026 grant date.

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

No, the transaction was classified as a grant or award acquisition, not an open-market purchase. Cohen Erik received 5,718 restricted shares at a price of $0.0000 per share as equity compensation, rather than buying shares on the market with personal funds.