Old Republic EVP exercises 208,000 stock options
Stephen J. Oberst, Executive Vice President of Old Republic International, exercised employee stock options covering 208,000 shares of common stock on July 28, 2026.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Stephen J. Oberst, Executive Vice President of Old Republic International, exercised employee stock options covering 208,000 shares of common stock on July 28, 2026. The issuer withheld 150,068 shares to pay the exercise price and tax withholdings and he sold 13,125 shares at a weighted average price of $43.9600. Following these transactions, he held 112,165 shares indirectly through the ORI 401K plan.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
14 txns
Insider
OBERST STEPHEN J
Role
Executive Vice President
Sold
13,125 shs ($577K)
Approx. gross sale proceeds
$577K
Approx. exercise cost
$4.48M
Share of Position Sold
13.8%
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | 2017 Employee Stock Option F3 | 21,000 | $0.00 | $0.00 |
| Exercise | 2018 Employee Stock Option F3 | 24,000 | $0.00 | $0.00 |
| Exercise | 2019 Employee Stock Option F3 | 28,000 | $0.00 | $0.00 |
| Exercise | 2019 Employee Stock Option(a) F3 | 15,000 | $0.00 | $0.00 |
| Exercise | 2020 Employee Stock Option F3 | 55,000 | $0.00 | $0.00 |
| Exercise | 2021 Employee Stock Option F3 | 65,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 21,000 | $19.98 | $420K |
| Exercise | Common Stock | 24,000 | $20.98 | $504K |
| Exercise | Common Stock | 28,000 | $21.12 | $591K |
| Exercise | Common Stock | 15,000 | $21.99 | $330K |
| Exercise | Common Stock | 55,000 | $22.72 | $1.25M |
| Exercise | Common Stock | 65,000 | $21.30 | $1.38M |
| Exercise Price or Tax Liability | Common Stock F1 | 150,068 | $43.07 | $6.46M |
| Sale | Common Stock F2 | 13,125 | $43.96 | $577K |
| Holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
2017 Employee Stock Option — 0 contracts (Direct);
2018 Employee Stock Option — 0 contracts (Direct);
2019 Employee Stock Option — 0 contracts (Direct);
2019 Employee Stock Option(a) — 0 contracts (Direct);
2020 Employee Stock Option — 0 contracts (Direct);
2021 Employee Stock Option — 0 contracts (Direct);
Common Stock — 82,205 shares (Direct);
Common Stock — 112,165 shares (Indirect, By ORI 401K)
Holdings Before and After:
2017 Employee Stock Option, 21,000 to 0 contracts (Direct);
2018 Employee Stock Option, 24,000 to 0 contracts (Direct);
2019 Employee Stock Option, 28,000 to 0 contracts (Direct);
2019 Employee Stock Option(a), 15,000 to 0 contracts (Direct);
2020 Employee Stock Option, 55,000 to 0 contracts (Direct);
2021 Employee Stock Option, 65,000 to 0 contracts (Direct);
Common Stock, 37,398 to 82,205 shares (Direct)
Footnotes (3)
- F1. Pursuant to a "net exercise" of outstanding stock options, the Issuer withheld a portion of the shares of common stock to be acquired upon exercise for payment of the exercise price and tax withholdings.
- F2. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $43.950 to $43.975, inclusive. A breakdown of each transaction will be provided upon request.
- F3. This grant became exercisable each December 31 at the rate of 10% the first year, 15% the second year, 20% the third year, 25% the fourth year, and 30% the fifth year, beginning on the date shown.
Key Figures
Options Exercised: 208000 shares
Shares Withheld for Exercise Price and Taxes: 150068 shares
Shares Sold: 13125 shares at $43.9600 per share
+3 more
6 metrics
Options Exercised
208000 shares
Total derivative shares exercised on 2026-07-28 by Stephen J. Oberst
Shares Withheld for Exercise Price and Taxes
150068 shares
Code F disposition to cover option exercise price and tax withholdings at $43.0700 per share
Shares Sold
13125 shares at $43.9600 per share
Open-market sale on 2026-07-28; weighted average price with trades from $43.950 to $43.975
Indirect Holdings After Transactions
112165 shares
Common stock held indirectly through ORI 401K following the reported transactions
Option Exercise Price Range
$19.9800–$22.7200 per share
Exercise prices for 2017–2021 Employee Stock Options converted into common stock
Derivative Exercises Count
6 transactions
Number of option exercise transactions (code M) reported in the filing
Key Terms
net exercise, weighted average price, tax withholdings, Employee Stock Option, +1 more
5 terms
net exercise financial
"Pursuant to a "net exercise" of outstanding stock options, the Issuer withheld"
A net exercise is a way to convert stock options into shares without paying cash up front: instead of handing over money to buy the optioned shares, the holder receives only the number of shares equal to the option’s value after the company withholds a portion of shares to cover the exercise price and taxes. It matters to investors because it changes how many new shares are issued, affects dilution of existing shareholders, and alters company cash flow compared with a cash exercise.
weighted average price financial
"The price reported is a weighted average price. These shares were sold"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
tax withholdings financial
"shares of common stock to be acquired upon exercise for payment of the exercise price and tax withholdings"
Employee Stock Option financial
"security title "2019 Employee Stock Option" appears for the derivative grants"
An employee stock option is a promise that lets a worker buy company shares later at a predetermined price, often after they stay for a certain period or meet performance goals — think of it like a coupon that locks in today's price for a future purchase. It matters to investors because options align employees’ incentives with company performance, can increase the number of shares outstanding (dilution) when exercised, and represent a compensation cost that affects reported profits and shareholder value.
ORI 401K financial
"Common Stock holding noted as indirect ownership "By ORI 401K""
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider activity did ORI executive Stephen J. Oberst report in this Form 4?
Old Republic International (ORI) Executive Vice President Stephen J. Oberst reported exercising employee stock options for 208,000 shares of common stock on July 28, 2026. Related to this exercise, shares were withheld for costs and a portion was sold in the market.
How many ORI stock options did Stephen J. Oberst exercise and at what prices?
Stephen J. Oberst exercised options covering 208,000 ORI shares tied to grants from 2017 through 2021. The options had exercise prices ranging from $19.9800 to $22.7200 per share, converting those derivative positions into shares of common stock.
What are Stephen J. Oberst’s remaining ORI holdings after these transactions?
After the reported transactions, Stephen J. Oberst held 112,165 ORI common shares indirectly through the ORI 401K plan. The Form 4 identifies these shares as indirect ownership, reflecting his retirement-plan position rather than directly held stock certificates.
Were any of Stephen J. Oberst’s ORI stock options left outstanding after this Form 4?
For the specific 2017–2021 employee stock option grants reported, the share balances following each transaction were 0. This indicates those particular option awards were fully exercised and no remaining derivative shares from those grants are shown in this filing.
AI-generated analysis. How Rhea-AI works. Not financial advice.
