Mercury General (NYSE: MCY) insider reports share exercise and issuer disposition

Rhea-AI Filing Summary

Mercury General Corp insider Christopher Graves reported a mix of equity transactions. He exercised 979.09 restricted stock units into 979.09 shares of common stock at a stated price of $0.00 per share, then disposed of 979.09 common shares to the issuer at $86.44 per share. Following these moves, he directly holds 5,400 common shares and indirectly holds 1,039 common shares through an ESOP. Each restricted stock unit is the economic equivalent of one common share and will vest in three equal annual installments beginning on February 21, 2026, to be settled in cash upon vesting.

Insider Trade Summary

979.09 shares exercised/converted

Mixed 4 txns

Insider GRAVES CHRISTOPHER

Role See Remarks

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	979.09	$0.00	--
Exercise	Common Stock	979.09	$0.00	--
Disposition	Common Stock	979.09	$86.44	$85K
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Unit — 1,958.19 shares (Direct); Common Stock — 6,379.09 shares (Direct); Common Stock — 1,039 shares (Indirect, By ESOP)

Footnotes (1)

1. [object Object]

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^*

GRAVES CHRISTOPHER

(Last) (First) (Middle)

C/O MERCURY GENERAL CORP.

4484 WILSHIRE BOULEVARD

(Street)

LOS ANGELES CA 90010

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MERCURY GENERAL CORP [ MCY ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/21/2026

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	02/21/2026		M		979.09	A	(1)	6,379.09	D
Common Stock	02/21/2026		D		979.09	D	$86.44	5,400	D
Common Stock								1,039	I	By ESOP

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
Restricted Stock Unit	(1)	02/21/2026		M			979.09	(1)	(1)	Common Stock	979.09	$0	1,958.19	D

Explanation of Responses:

1. Each restricted stock unit is the economic equivalent of one share of the Issuer's Common Stock. The restricted stock units will vest in three equal annual installments beginning on February 21, 2026, and will be settled in cash upon vesting.

Remarks:

VP and Chief Investment Officer

	/s/ Judy Walters, Attorney-in-Fact	02/24/2026
	** 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.

FAQ

What insider transactions did Christopher Graves report at Mercury General (MCY)?

Christopher Graves reported exercising 979.09 restricted stock units into 979.09 common shares, then disposing of 979.09 common shares to the issuer at $86.44 per share. These transactions reflect a derivative exercise/conversion followed by a disposition to Mercury General.

How many Mercury General (MCY) shares does Christopher Graves now own?

After the reported transactions, Christopher Graves directly holds 5,400 shares of Mercury General common stock and indirectly holds 1,039 shares through an ESOP. These figures reflect his ownership positions following the exercise and disposition of 979.09 common shares.

What happened to the restricted stock units in the Mercury General (MCY) Form 4?

The Form 4 shows 979.09 restricted stock units exercised or converted into 979.09 common shares at a stated price of $0.00 per share. Each restricted stock unit is economically equivalent to one common share, with vesting and cash settlement terms disclosed in the footnote.

At what price were Mercury General (MCY) shares disposed to the issuer?

The reported disposition to Mercury General shows 979.09 common shares transferred to the issuer at $86.44 per share. This transaction is coded as a disposition to the issuer, indicating shares moved back to the company rather than an open-market sale.

How do the Mercury General (MCY) restricted stock units vest and settle?

Each restricted stock unit is the economic equivalent of one Mercury General common share and will vest in three equal annual installments beginning on February 21, 2026. Upon vesting, these units will be settled in cash instead of delivering actual shares.

Is the Mercury General (MCY) insider transaction a buy or a sell?

The filing reflects both acquisition and disposition activity. Christopher Graves acquired shares through a derivative exercise of restricted stock units, then disposed of an equal number of common shares back to the issuer, resulting in a mixed transaction profile rather than a simple buy or sell.