[Form 4] Kemper Corporation Insider Trading Activity

Rhea-AI Filing Summary

Joseph P. Lacher Jr., President and CEO and director of Kemper Corporation (KMPR), reported transactions on Form 4 dated 09/10/2025. The filing discloses a cashless exercise of 98,280 employee stock options with an exercise price of $40.70 per share and simultaneous disposition of 85,608 shares at $52.96 per share; after the transactions he beneficially owned 167,345 shares of common stock. The report states shares were withheld to satisfy option exercise prices and taxes. The options were fully vested as of May 19, 2019, and the derivative instrument is an employee stock option with a tandem stock appreciation right.

Insights

Securities Analyst

TL;DR: Routine executive exercise and partial sale; no new compensation terms or unvested grants reported.

The Form 4 shows a cashless exercise of 98,280 options at a $40.70 strike and the disposition of 85,608 shares at $52.96, leaving 167,345 shares beneficially owned. Transactions are reported as occurring under Rule 16b-3 and shares were withheld for exercise price and taxes, indicating a standard net-settlement execution. There are no disclosures of new grants, amendments, or dispositions outside of this exercise. For investors, this filing documents insider liquidity activity but contains no operational or financial performance information.

Corporate Governance Expert

TL;DR: Insider exercise is procedural and disclosed; vesting history is explicit, limiting governance concerns.

The filing confirms the options fully vested on May 19, 2019, and the exercise was processed cashless with tax/exercise withholding, consistent with standard equity plan mechanics. The report was signed by an attorney-in-fact on 09/11/2025. There is no indication of special related-party transactions, accelerated vesting, or changes to board/officer status in this disclosure. The activity appears to comply with Section 16 reporting requirements.

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

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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^*

LACHER JOSEPH P JR

(Last) (First) (Middle)

200 EAST RANDOLPH STREET

SUITE 3300

(Street)

CHICAGO IL 60601

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
KEMPER Corp [ KMPR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2025

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	09/10/2025		M(1)		98,280	A	$40.7	252,953	D
Common Stock	09/10/2025		F(1)		85,608	D	$52.96	167,345	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
Employee Stock Option(2)	$40.7	09/10/2025		M			98,280	05/19/2016(3)	11/19/2025	Common Stock	98,280	$40.7	0	D

Explanation of Responses:

1. The transactions reported above in Table I reflect the cashless exercise of employee stock options in reliance on Rule 16b-3. Shares shown in this report as being disposed of have been withheld to satisfy exercise prices and/or taxes in connection with this exercise of employee stock options.

2. Option to buy stock with tandem stock appreciation right.

3. Employee stock options fully vested on May 19, 2019.

Remarks:

	/s/ Baird S. Allis, as Attorney-in-Fact	09/11/2025
	** 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 did Joseph P. Lacher Jr. report on the Form 4 for KMPR?

The Form 4 reports a cashless exercise of 98,280 employee stock options at a $40.70 strike and the disposition of 85,608 shares at $52.96; beneficial ownership after the transactions is 167,345 shares.

When did the transactions reported on the KMPR Form 4 occur?

The transactions occurred on 09/10/2025 and the Form 4 was signed on 09/11/2025.

Were the options exercised by the KMPR reporting person vested?

Yes. The filing states the employee stock options fully vested on May 19, 2019.

How were taxes and exercise costs handled for the option exercise?

Shares were withheld to satisfy the exercise prices and/or taxes in connection with the cashless exercise, per the filing's explanation.

What type of derivative security was reported in Table II?

An Employee Stock Option with a $40.70 exercise price and underlying common stock, representing 98,280 options; the expiration date shown is 11/19/2025.