Neptune Insurance CFO moves 400K shares to trust
Neptune Insurance’s CFO James Steiner reclassified 400,000 NP shares into a revocable trust with no change to his total 4.28 million share beneficial ownership.
Rhea-AI Filing Summary
Neptune Insurance Holdings Inc. (NP) reported an amended insider transaction for Chief Financial Officer and director James Steiner. On September 9, 2026, Steiner transferred 400,000 shares of Class A Common Stock from his direct holdings into a revocable living trust for which he is the sole grantor, trustee, and current beneficiary. The transfer was made for no consideration and is described as only a change in the form of his beneficial ownership, with no change to his pecuniary interest.
After the transfer, Steiner directly and indirectly beneficially owned a total of 4,284,715 shares of Class A Common Stock, unchanged from immediately before the transfer. This amendment corrects the previously reported direct holdings to include 535,665 shares underlying time-based restricted stock units, which had been omitted from an earlier Form 4. These restricted stock units vest as to 178,555 shares on September 30, 2026 and the remaining 357,110 shares in eight quarterly installments through September 30, 2028, subject to his continuous service.
Positive
- None.
Negative
- None.
Insider Trade Summary
Other: 800,000 shares
Other
2 txns
Insider
Steiner James
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class A Common Stock F1, F2, F3, F4 | 400,000 | -- | -- |
| Other | Class A Common Stock F1, F2 | 400,000 | -- | -- |
Holdings After Transaction:
Class A Common Stock — 3,884,715 shares (Direct);
Class A Common Stock — 400,000 shares (Indirect, By Self as Trustee of the Living Trust of James Edward Steiner dated July 7, 2016)
Footnotes (4)
- F1. The reported transaction represents a transfer of shares, for no consideration, from the Reporting Person's individual name into a revocable trust of which the Reporting Person is the sole grantor, the sole trustee and the sole current beneficiary. The transfer effected only a change in the form of the Reporting Person's beneficial ownership and did not change his pecuniary interest in the shares. The Reporting Person's total beneficial ownership of Class A Common Stock was unchanged at 4,284,715 shares immediately before and immediately after the transfer.
- F2. The shares were transferred for no consideration. Accordingly, no price per share is reported.
- F3. Includes 535,665 shares of Class A Common Stock underlying an award of time-based restricted stock units, as amended. The restricted stock units vest as to 178,555 shares on September 30, 2026 and as to the remaining 357,110 shares in eight quarterly installments of 44,638 or 44,639 shares each on the last day of each calendar quarter thereafter through September 30, 2028, in each case subject to the continuous service of the Reporting Person through the applicable vesting date.
- F4. This Form 4/A amends the Form 4 filed by the Reporting Person on September 10, 2026 solely to correct the number of shares of Class A Common Stock reported in Column 5 of Table I for the Reporting Person's direct holdings, and the corresponding total in footnote 1, which inadvertently omitted 535,665 shares of Class A Common Stock underlying restricted stock units previously reported on the Form 4 filed by the Reporting Person on October 3, 2025. No other changes have been made to the previously reported information.
Key Figures
Shares transferred to trust: 400,000 shares
Total beneficial ownership: 4,284,715 shares
Direct holdings after transfer: 3,884,715 shares
+4 more
7 metrics
Shares transferred to trust
400,000 shares
Class A Common Stock moved on September 9, 2026 from direct holdings into a revocable trust
Total beneficial ownership
4,284,715 shares
Class A Common Stock beneficially owned by James Steiner immediately before and after the transfer
Direct holdings after transfer
3,884,715 shares
Direct Class A Common Stock held following the September 9, 2026 restructuring
Indirect holdings via trust
400,000 shares
Class A Common Stock held indirectly in a revocable living trust after the transfer
RSU underlying shares
535,665 shares
Class A Common Stock underlying time-based restricted stock units included in direct holdings
Initial RSU vesting tranche
178,555 shares
Vests on September 30, 2026, subject to continuous service
Remaining RSU vesting shares
357,110 shares
Vest in eight quarterly installments through September 30, 2028, subject to continuous service
Key Terms
revocable trust, beneficial ownership, pecuniary interest, time-based restricted stock units, +1 more
5 terms
revocable trust financial
"transfer of shares, for no consideration, from the Reporting Person's individual name into a revocable trust"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
beneficial ownership financial
"The transfer effected only a change in the form of the Reporting Person's beneficial ownership"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"did not change his pecuniary interest in the shares"
time-based restricted stock units financial
"Includes 535,665 shares of Class A Common Stock underlying an award of time-based restricted stock units"
Time-based restricted stock units are a form of employee compensation where individuals are granted company shares that are earned over a set period, often as a reward for staying with the company. These shares typically become fully owned and transferable only after passing specific time milestones, encouraging long-term commitment. For investors, they highlight a company's focus on employee retention and can influence future stock supply and company stability.
quarterly installments financial
"remaining 357,110 shares in eight quarterly installments of 44,638 or 44,639 shares each"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Why was this Neptune Insurance (NP) Form 4/A amendment filed?
The amendment was filed to correct the number of directly held shares previously reported, which had inadvertently omitted 535,665 shares of Class A stock underlying restricted stock units disclosed in an October 3, 2025 Form 4. No other information was changed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
