ProAssurance (PRA) EVP Lisenby exercises RSUs, withholds shares for taxes
Rhea-AI Filing Summary
ProAssurance Corp executive Jeffrey Patton Lisenby, Executive Vice-President and General Counsel, exercised restricted stock units into common shares of ProAssurance on February 25, 2026. He acquired 17,557 shares of common stock through derivative exercises at a reference price of $24.47 per share, with 7,615 shares disposed of to cover tax liabilities. Following these transactions, he directly owned 98,286 shares of common stock. The related restricted stock units were granted under the company’s 2014 and 2024 equity incentive plans and generally vest in equal annual installments over three years, with potential accelerated vesting upon death, disability, Good Reason termination, or Compensation Committee action.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 9,942 shares
Net Buy
10 txns
Insider
Lisenby Jeffrey Patton
Role
Executive Vice-President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Share Units | 5,890 | $0.00 | $0.00 |
| Exercise | Restricted Share Units | 7,686 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 3,981 | $0.00 | $0.00 |
| Exercise | Common Stock | 3,981 | $24.47 | $97K |
| Exercise | Common Stock | 7,686 | $24.47 | $188K |
| Exercise | Common Stock | 5,890 | $24.47 | $144K |
| Exercise Price or Tax Liability | Common Stock | 7,615 | $24.47 | $186K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
Holdings After Transaction:
Restricted Share Units — 0 shares (Direct);
Restricted Stock Units — 43,184 shares (Direct);
Common Stock — 98,286 shares (Direct)
Footnotes (5)
- F1. Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of ProAssurance Corporation common stock, issuable from the ProAssurance Corporation 2014 Equity Incentive Compensation Plan. The RSUs will vest pro rata in increments equal to one-third of the total award in each of the years 2024, 2025 and 2026 provided the reporting person remains continuously employed by ProAssurance or one of its subsidiaries until each vesting date. Vesting will accelerate upon termination of employment as the result of (i) death; (ii) disability; or (iii) Good Reason, as defined in the reporting person's employment agreement with ProAssurance Corporation, or by action of the Compensation Committee of the ProAssurance Corporation Board of Directors. The RSUs will be settled in shares of ProAssurance Common Stock and in cash, with the cash portion being approximately equal to the federal, state, and local taxes.
- F2. The RSUs were priced on February 24, 2026, per the direction of the Compensation Committee of the ProAssurance Corporation Board of Directors.
- F3. Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of ProAssurance Corporation common stock, issuable from the ProAssurance Corporation 2024 Equity Incentive Plan. The RSUs will vest pro rata in increments equal to one-third of the total award in each of the years 2025, 2026 and 2027 provided the reporting person remains continuously employed by ProAssurance or one of its subsidiaries until each vesting date. Vesting will accelerate upon termination of employment as the result of (i) death; (ii) disability; or (iii) Good Reason, as defined in the reporting person's employment agreement with ProAssurance Corporation, or by action of the Compensation Committee of the ProAssurance Corporation Board of Directors. The RSUs will be settled in shares of ProAssurance Common Stock and in cash, with the cash portion being approximately equal to the federal, state, and local taxes.
- F4. Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of ProAssurance Corporation common stock, issuable from the ProAssurance Corporation 2014 Equity Incentive Compensation Plan. The RSUs will vest pro rata in increments equal to one-third of the total award in each of the years 2026, 2027 and 2028 provided the reporting person remains continuously employed by ProAssurance or one of its subsidiaries until each vesting date. Vesting will accelerate upon termination of employment as the result of (i) death; (ii) disability; or (iii) Good Reason, as defined in the reporting person's employment agreement with ProAssurance Corporation, or by action of the Compensation Committee of the ProAssurance Corporation Board of Directors. The RSUs will be settled in shares of ProAssurance Common Stock and in cash, with the cash portion being approximately equal to the federal, state, and local taxes.
- F5. Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of ProAssurance Corporation common stock, issuable from the ProAssurance Corporation 2014 Equity Incentive Compensation Plan. The RSUs will vest pro rata in increments equal to one-third of the total award in each of the years 2027, 2028 and 2029 provided the reporting person remains continuously employed by ProAssurance or one of its subsidiaries until each vesting date. Vesting will accelerate upon termination of employment as the result of (i) death; (ii) disability; or (iii) Good Reason, as defined in the reporting person's employment agreement with ProAssurance Corporation, or by action of the Compensation Committee of the ProAssurance Corporation Board of Directors. The RSUs will be settled in shares of ProAssurance Common Stock and in cash, with the cash portion being approximately equal to the federal, state, and local taxes.
FAQ
What insider transactions did PRA executive Jeffrey Patton Lisenby report on this Form 4?
Jeffrey Patton Lisenby reported exercising restricted stock units into ProAssurance common stock and a related tax-withholding share disposition. He converted derivative awards into 17,557 common shares and had 7,615 shares withheld to satisfy tax obligations, reflecting routine equity compensation activity rather than an open-market stock trade.
How were the restricted stock units for ProAssurance (PRA) structured and when do they vest?
Each restricted stock unit represents a right to receive one ProAssurance common share under the 2014 or 2024 equity plans. The RSUs generally vest in one-third increments over three years tied to employment continuity, with accelerated vesting upon death, disability, Good Reason termination, or Compensation Committee action.
Was the ProAssurance (PRA) insider transaction a tax sale or an open-market sale?
The Form 4 shows a tax-withholding disposition coded as “F,” indicating shares were delivered to cover tax obligations on vested awards. This differs from an open-market sale, as the transaction settled compensation-related taxes rather than reflecting a discretionary decision to sell shares on the market.
Which equity incentive plans granted the ProAssurance (PRA) restricted stock units to Lisenby?
The restricted stock units were issued under the ProAssurance Corporation 2014 Equity Incentive Compensation Plan and the 2024 Equity Incentive Plan. These plans provide share-based compensation that vests over several years, with settlement partly in stock and partly in cash approximating federal, state, and local tax obligations.
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