Mercury General (NYSE: MCY) CTO converts RSUs and disposes shares to issuer

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Form Type

Rhea-AI Filing Summary

Mercury General Corp VP/Chief Technology Officer Pang Wei reported derivative and stock transactions involving 1,136.22 units/shares on February 21, 2026. A restricted stock unit award for 1,136.22 units was recorded, bringing total restricted stock units to 2,272.43.

These restricted stock units are each the economic equivalent of one share of common stock, will vest in three equal annual installments beginning on February 21, 2026, and will be settled in cash upon vesting. On the same date, 1,136.22 shares of common stock were acquired at $0.00 per share through a derivative exercise or conversion, then 1,136.22 common shares were disposed of to the issuer at $86.44 per share, leaving no common shares directly owned.

Insider Trade Summary

1,136.22 shares exercised/converted

Mixed 3 txns

Insider Pang Wei

Role VP/Chief Technology Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	1,136.22	$0.00	--
Exercise	Common Stock	1,136.22	$0.00	--
Disposition	Common Stock	1,136.22	$86.44	$98K

Holdings After Transaction: Restricted Stock Unit — 2,272.43 shares (Direct); Common Stock — 1,136.22 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 02/24/2026 - 09:02 PM

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^*

Pang Wei

(Last)

(First)

(Middle)

C/O MERCURY GENERAL CORP.

4484 WILSHIRE BOULEVARD

(Street)

LOS ANGELES

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)
	VP/Chief Technology Officer

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/21/2026		M		1,136.22	A	⁽¹⁾	1,136.22	D
Common Stock	02/21/2026		D		1,136.22	D	$86.44	0	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Unit	⁽¹⁾	02/21/2026		M			1,136.22	⁽¹⁾	⁽¹⁾	Common Stock	1,136.22	$0	2,272.43	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.

	/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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Mercury General (MCY) VP/CTO Pang Wei report?

Pang Wei reported a derivative exercise involving 1,136.22 restricted stock units and matching common shares, plus a disposition of 1,136.22 common shares to the issuer at $86.44 per share, resulting in no directly held common stock after the transactions.

How many restricted stock units does Pang Wei hold at Mercury General (MCY)?

After the reported transactions, Pang Wei holds 2,272.43 restricted stock units. Each unit is the economic equivalent of one share of Mercury General common stock and represents a cash-settled award that vests over time rather than immediate share ownership.

When do Pang Wei’s restricted stock units at Mercury General (MCY) vest?

The restricted stock units vest in three equal annual installments beginning on February 21, 2026. This means the award will vest over three years, with one‑third vesting each year on that same February 21 date, subject to continued service conditions.

Are Pang Wei’s Mercury General (MCY) restricted stock units settled in stock or cash?

The restricted stock units are settled in cash upon vesting, not in shares. Although each unit is the economic equivalent of one share of common stock, the company will deliver cash value at vesting rather than issuing new or existing shares.

At what price were Pang Wei’s disposed Mercury General (MCY) shares valued?

The 1,136.22 common shares disposed of to the issuer were valued at $86.44 per share. This disposition was reported with transaction code “D,” indicating a transaction with the issuer, rather than an open‑market sale through a stock exchange.