Mercury General (MCY) CEO awarded 7,439 cash-settled restricted stock units

Q: What does it mean that each restricted stock unit is the economic equivalent of one MCY share?

Each unit’s value tracks one share of Mercury General’s common stock. While the CEO does not receive actual shares from this award, the cash paid at vesting is based on the underlying stock’s value, closely tying compensation to company performance.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

TIRADOR GABRIEL reported acquisition or exercise transactions in this Form 4 filing.

Mercury General Corp President & CEO Gabriel Tirador received a grant of 7,439.1 restricted stock units. These units are the economic equivalent of the company’s common stock but will be settled in cash rather than shares when they vest.

The award vests in three equal annual installments beginning on February 21, 2027, providing long-term, performance-linked compensation. Following this grant, Tirador holds 7,439.1 restricted stock units directly, aligning his compensation with the company’s future results over the next several years.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider TIRADOR GABRIEL

Role President & CEO

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	7,439.1	$0.00	--

Holdings After Transaction: Restricted Stock Unit — 7,439.1 shares (Direct)

Footnotes (1)

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Key Figures

RSUs granted: 7,439.1 units Price per RSU: $0.00 Underlying shares: 7,439.1 shares +2 more

5 metrics

RSUs granted 7,439.1 units Restricted stock unit grant to CEO on February 21, 2026

Price per RSU $0.00 Grant/award acquisition, no purchase price paid

Underlying shares 7,439.1 shares Each RSU economically equivalent to one common share

Holdings after grant 7,439.1 RSUs Total restricted stock units held directly after this transaction

Vesting schedule 3 equal annual installments Beginning on February 21, 2027

Key Terms

Restricted Stock Unit, economic equivalent, vest in three equal annual installments, settled in cash, +1 more

5 terms

Restricted Stock Unit financial

"Each restricted stock unit is the economic equivalent of one share"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

economic equivalent financial

"Each restricted stock unit is the economic equivalent of one share"

vest in three equal annual installments financial

"The restricted stock units will vest in three equal annual installments"

settled in cash financial

"and will be settled in cash upon vesting"

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

Form 4 Insider Transactions: What Each Field Means →

04/06/2026 - 04:30 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^*

TIRADOR GABRIEL

(Last)

(First)

(Middle)

C/O MERCURY GENERAL CORP.

4484 WILSHIRE BOULEVARD

(Street)

LOS ANGELES

CALIFORNIA

90010

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

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

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)
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)

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		A		7,439.1		⁽¹⁾	⁽¹⁾	Common Stock	7,439.1	$0	7,439.1	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, 2027, and will be settled in cash upon vesting.

	/s/ Judy Walters, Attorney-in-Fact	04/06/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Mercury General (MCY) CEO Gabriel Tirador report in this Form 4?

Gabriel Tirador reported receiving 7,439.1 restricted stock units as compensation. These derivative awards are tied to Mercury General’s common stock and are structured as a cash-settled, multi-year incentive that aligns his pay with the company’s future performance over time.

How many restricted stock units did the MCY CEO acquire in this transaction?

The CEO acquired 7,439.1 restricted stock units in this transaction. Each unit is economically equivalent to one share of Mercury General’s common stock, providing value based on the stock’s performance but ultimately paid in cash upon vesting over several years.

When do Gabriel Tirador’s Mercury General restricted stock units vest?

The restricted stock units begin vesting on February 21, 2027. They vest in three equal annual installments, creating a long-term incentive structure that rewards continued service and performance over a multi-year period, rather than providing all compensation immediately.

Are the MCY CEO’s 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 economically equivalent to one share of common stock, Mercury General will pay the value in cash when the vesting conditions are met in future years.

How many restricted stock units does the Mercury General CEO hold after this grant?

After this grant, the CEO holds 7,439.1 restricted stock units directly. This reflects the entire reported position from this award, forming part of his overall incentive compensation package that links his potential payout to Mercury General’s future results.