Neptune Insurance CFO shifts 3.35M shares to trust
The CFO of Neptune Insurance Holdings Inc. re-titled over 3.3 million shares into his revocable trust with no change in his total beneficial ownership.
Rhea-AI Filing Summary
Neptune Insurance Holdings Inc. (NP) director and Chief Financial Officer James Steiner reported an internal restructuring of his holdings of Class A Common Stock on September 14, 2026. A total of 3,349,050 shares were transferred for no consideration from his direct ownership into a revocable living trust of which he is the sole grantor, trustee and current beneficiary, so his beneficial ownership remained unchanged at 4,284,715 shares immediately before and after the transfer. Following the transaction, 535,665 shares are held directly as time-based restricted stock units and 3,749,050 shares are held indirectly through the trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
Other: 6,698,100 shares
Other
2 txns
Insider
Steiner James
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class A Common Stock F1, F2, F3 | 3,349,050 | -- | -- |
| Other | Class A Common Stock F1, F2 | 3,349,050 | -- | -- |
Holdings After Transaction:
Class A Common Stock — 535,665 shares (Direct);
Class A Common Stock — 3,749,050 shares (Indirect, By Self as Trustee of the Living Trust of James Edward Steiner dated July 7, 2016)
Footnotes (3)
- 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. Consists of 535,665 shares of Class A Common Stock underlying an award of time-based restricted stock units, as amended, which remain held directly by the Reporting Person. 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.
Key Figures
Shares transferred: 3,349,050 shares
Total beneficial ownership: 4,284,715 shares
Direct holdings after transaction: 535,665 shares
+4 more
7 metrics
Shares transferred
3,349,050 shares
Class A Common Stock moved on September 14, 2026 from direct ownership to a revocable trust
Total beneficial ownership
4,284,715 shares
Class A Common Stock beneficially owned immediately before and after the transfer
Direct holdings after transaction
535,665 shares
Class A Common Stock underlying time-based restricted stock units held directly after the transfer
Indirect trust holdings after transaction
3,749,050 shares
Class A Common Stock held indirectly through the revocable trust after the transfer
Initial RSU vesting tranche
178,555 shares
Restricted stock units scheduled to vest on September 30, 2026, subject to continuous service
Remaining RSU vesting
357,110 shares
Restricted stock units vesting in eight quarterly installments through September 30, 2028
Quarterly RSU installment size
44,638–44,639 shares
Size of each of the eight quarterly vesting installments for the remaining RSUs
Key Terms
revocable trust, beneficial ownership, pecuniary interest, 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"
restricted stock units financial
"Consists of 535,665 shares of Class A Common Stock underlying an award of time-based restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
continuous service financial
"in each case subject to the continuous service of the Reporting Person through the applicable vesting date"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did NP’s CFO James Steiner report in this Form 4?
He reported transferring 3,349,050 shares of Neptune Insurance Holdings Inc. Class A Common Stock on September 14, 2026 from direct ownership into his revocable trust, for no consideration, with his total beneficial ownership unchanged at 4,284,715 shares.
What are the vesting terms of James Steiner’s NP restricted stock units?
The 535,665 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 through September 30, 2028, subject to his continuous service.
AI-generated analysis. How Rhea-AI works. Not financial advice.
