Markel (NYSE: MKL) CFO adds shares through 2020 employee stock purchase plan

Rhea-AI Filing Summary

Markel Group Inc. Chief Financial Officer Brian J. Costanzo reported acquiring additional common stock through an employee stock purchase plan. On December 31, 2025, he acquired 2.184 shares of Markel Group common stock at a price of $1,602.62 per share in a transaction classified as code J, with a footnote stating the shares were acquired under the qualified component of the MKL 2020 Employee Stock Purchase Plan in a transaction exempt under Exchange Act Rule 16b-3(c).

Following this transaction, Costanzo beneficially owned 956.5426 shares of common stock in direct ownership form and 223.836 shares held indirectly through a 401(k) plan, based on the plan balance as of December 31, 2025.

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^*

Costanzo Brian J.

(Last) (First) (Middle)

C/O MARKEL GROUP INC.

4521 HIGHWOODS PARKWAY

(Street)

GLEN ALLEN VA 23060

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MARKEL GROUP INC. [ MKL ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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	12/31/2025		J	V	2.184(1)	A	$1,602.62	956.5426	D
Common Stock								223.836	I	401(k) Plan(2)

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. Shares acquired under the qualified component of the MKL 2020 Employee Stock Purchase Plan in a transaction exempt under Exchange Act Rule 16b-3(c).

2. The information reported herein is based on MKL 401(k) plan balance as of December 31, 2025.

Remarks:

	/s/ Karen O. Earls, Attorney-in-fact for Brian J. Costanzo	01/20/2026
	** 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 transaction did Markel Group (MKL) report for its CFO?

Markel Group reported that its Chief Financial Officer, Brian J. Costanzo, acquired 2.184 shares of common stock on December 31, 2025 under the MKL 2020 Employee Stock Purchase Plan.

At what price did the Markel (MKL) CFO acquire the new shares?

The 2.184 shares of Markel Group common stock were acquired at a price of $1,602.62 per share.

How many Markel Group (MKL) shares does the CFO beneficially own after this transaction?

After the reported transaction, Brian J. Costanzo beneficially owned 956.5426 shares of Markel Group common stock directly and 223.836 shares indirectly through a 401(k) plan.

What is the nature of the indirect ownership reported by the Markel (MKL) CFO?

The indirect ownership consists of 223.836 shares of Markel Group common stock held in a 401(k) plan, based on the plan balance as of December 31, 2025.

Under what plan were the new Markel Group (MKL) shares acquired by the CFO?

The newly acquired shares were obtained under the qualified component of the MKL 2020 Employee Stock Purchase Plan, in a transaction exempt under Exchange Act Rule 16b-3(c).

What is transaction code J in the Markel (MKL) CFO Form 4?

The filing uses transaction code J for the December 31, 2025 acquisition, with a footnote explaining it represents shares acquired under the MKL 2020 Employee Stock Purchase Plan in an exempt transaction.