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Costanzo Brian J. reported acquisition or exercise transactions in this Form 4 filing.
MARKEL GROUP INC. Chief Financial Officer Brian J. Costanzo reported an equity award of 654.641 shares of common stock in the form of restricted stock units granted at a price of $0.0000 per share on February 24, 2026.
According to the award terms, 539.739 RSUs are scheduled to vest on December 31, 2028, and 114.902 RSUs are scheduled to vest on February 24, 2029, subject to specified conditions. After this grant, he directly holds 1,611.1836 shares and indirectly holds 223.836 shares through a 401(k) plan based on the balance as of December 31, 2025.
MARKEL GROUP INC. executive Andrew G. Crowley, EVP & President of Markel Ventures, reported an equity award tied to 830.0200 shares of common stock on a grant, award, or other acquisition basis at a stated price of $0.0000 per share.
According to the footnotes, these are restricted stock units under the MKL 2024 Equity Incentive Compensation Plan, with 693.951 RSUs scheduled to vest on December 31, 2028, and 136.069 RSUs on February 24, 2029. After this grant, Crowley directly holds 2,743.7464 shares of common stock and indirectly holds 205.2520 shares through a MKL 401(k) plan, based on the plan balance as of December 31, 2025.
Grinnan Richard Randolph reported acquisition or exercise transactions in this Form 4 filing.
Markel Group Inc. senior vice president and chief legal officer Richard Randolph Grinnan received a grant of 800.508 shares of common stock on February 24, 2026, reported as a stock award with no cash price per share.
The award consists of restricted stock units under the MKL 2024 Equity Incentive Compensation Plan. According to the footnotes, 669.277 RSUs are scheduled to vest on December 31, 2028, and 131.231 RSUs are scheduled to vest on February 24, 2029, subject to conditions. After this grant, Grinnan directly holds 4,263.4279 common shares and indirectly holds 117.099 shares through the MKL 401(k) plan, based on the plan balance as of December 31, 2025.
MARKEL GROUP INC. executive Meade P. Grandis, CAO and Controller, reported an award of 69.722 restricted stock units of common stock on February 24, 2026 at no cost under the MKL 2024 Equity Incentive Compensation Plan. According to the footnotes, 58.292 RSUs are scheduled to vest on December 31, 2028 and 11.430 RSUs on February 24, 2029, subject to conditions. The filing also updates indirect ownership balances held through a 401(k) plan, trusts, the reporting person’s spouse, and children, including a prior 2.026-share acquisition in the MKL 401(k) plan between June 30, 2025 and December 31, 2025 and a 275-share distribution from trusts to the spouse.
Markel Group Inc. reported that Chief Executive Officer Thomas Sinnickson Gayner acquired 4,483.616 shares of common stock through a grant of restricted stock units on February 24, 2026. The award was made under the MKL 2024 Equity Incentive Compensation Plan at a price of $0 per share.
According to a footnote, 3,731.912 RSUs are scheduled to vest on December 31, 2028, and 751.704 RSUs are scheduled to vest on February 24, 2029, subject to certain conditions. After this grant, Gayner directly owns 56,741.3334 common shares and also reports indirect holdings through a trust, spouse, and a 401(k) plan, with the 401(k) balance based on figures as of December 31, 2025.
Markel Group executive Wilson Simon reported both a stock sale and an equity award. On February 26, 2026, he completed an open-market sale of 100 shares of Markel Group common stock at a price of $2,079.4848 per share, leaving him with 2,396.7456 directly owned shares.
On February 24, 2026, he received a grant of 868.117 restricted stock units under the MKL 2024 Equity Incentive Compensation Plan at no purchase price. According to the award terms, 629.914 RSUs are scheduled to vest on December 31, 2028, and 238.203 RSUs are scheduled to vest on February 24, 2029, subject to applicable conditions.
Markel Group Inc. furnished its 2025 shareholder letter, outlining another year of solid growth and long-term compounding. Operating revenues reached $15,513 million in 2025 versus $14,814 million in 2024, while operating income was $3,195 million and adjusted operating income rose to $2,304 million.
The letter highlights a 12% increase in intrinsic value per share in 2025 and strong multi‑year compound growth. Insurance delivered a 94% combined ratio, with international operations achieving an 83% combined ratio and 14% written premium growth, and reserve redundancies of $484 million reinforcing balance sheet strength.
Financials revenue grew to $737 million with higher adjusted operating income, Industrials produced $3.9 billion of revenue, and Consumer and Other revenues rose to $1.4 billion. Markel generated a 10.5% public equity return, repurchased 223,000 shares at an average $1,894, redeemed $600 million of preferred stock, and ended 2025 with shareholders’ equity of $18,598 million and invested assets of $37,439 million.
Markel Group Inc. reports 2025 operating revenues of $15,513 million and adjusted operating income of $2,304 million, supported by a diversified mix of insurance, industrial, financial, and consumer businesses. Shareholders' equity reached $18,598 million, with a debt-to-capital ratio of 19%.
The company emphasizes long-term capital compounding, citing five-year compound annual growth of 16% in its closing stock price and 15% in intrinsic value per share. Markel Insurance remains the cornerstone, generating $9,353 million of operating revenues with a 95% combined ratio and a five-year average annual return on equity of 13%.
Invested assets totaled $37,439 million, including $13,004 million of equity securities and $18,827 million of insurance float. Management highlights a culture of decentralized leadership guided by “The Markel Style,” while outlining extensive risk factors around equity concentration, catastrophe exposure, reserving uncertainty, reinsurance credit risk, competition, regulation, liquidity, and acquisition integration.
Markel Group Inc. is reshaping its leadership team, executive pay, and shareholder rights. Simon Wilson and Andrew Crowley have been promoted to Executive Vice Presidents overseeing insurance and non‑insurance operations, while longtime executive Mike Heaton is departing following a mutually agreed separation date in March 2026.
The board also approved higher base salaries and larger equity and cash incentive targets for several top executives, including CEO Tom Gayner, with most 2026 equity awards tied to multi‑year performance and subject to long vesting and holding requirements. In addition, amended bylaws now allow shareholders owning at least 25% of voting power for one year to request special meetings, expanding shareholder rights.
MARKEL GROUP INC. executive Wilson Simon, CEO of Markel Insurance, reported a Form 4 transaction involving company common stock. On February 17, 2026, he disposed of 47 shares of common stock at $2,084.46 per share as a tax-withholding disposition, meaning shares were surrendered to cover tax obligations rather than sold in an open-market trade. Following this transaction, his directly held stake stands at 1,628.6286 shares of Markel Group common stock.