ProAssurance (PRA) director’s 10,621 shares cashed out in merger
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
ProAssurance Corporation director Staci Pierce reported a disposition of common stock tied to the company’s merger. On June 26, 2026, 10,621 shares of ProAssurance common stock were cancelled and converted into cash at $25.00 per share under the merger agreement with The Doctors Company.
This transaction was a disposition to the issuer as part of the merger closing, not an open-market trade. Following the cash-out, Pierce no longer holds any ProAssurance common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Pierce Staci
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 10,621 | $25.00 | $266K |
Holdings After Transaction:
Common Stock — 0 shares (Direct, null)
Footnotes (1)
- On June 26, 2026, pursuant to that certain Agreement and Plan of Merger, dated as of March 19, 2025 (the "Merger Agreement"), among ProAssurance Corporation (the "Issuer"), The Doctors Company ("Parent") and Jackson Acquisition Corporation, a wholly owned subsidiary of Parent ("Merger Sub"), Merger Sub merged with and into the Issuer (the "Merger"), with the Issuer surviving the Merger as a wholly owned subsidiary of Parent. Represents shares awarded under the ProAssurance Corporation Director Deferred Stock Compensation Plan ("Deferred Shares"). At the effective time of the Merger ("Effective Time"), upon the terms and subject to the conditions set forth in the Merger Agreement, the Deferred Shares, and any accrued dividend equivalents in such deferred compensation accounts that have been converted into Deferred Shares were converted into the right to receive an amount in cash, without interest, equal to the product of (a) the total number of shares of the Issuer's common stock, par value $0.01 per share (the "Common Stock") subject to the Deferred Shares immediately prior to the Effective Time, multiplied by (b) the Merger Consideration (as defined below). At the Effective Time, upon the terms and subject to the conditions set forth in the Merger Agreement, each share of Common Stock that was issued and outstanding immediately prior to the Effective Time (other than certain excluded shares) was cancelled and converted into the right to receive $25.00 per share in cash, without interest, and subject to any applicable withholding taxes (the "Merger Consideration").
Key Figures
Shares disposed: 10,621 shares
Merger cash price: $25.00 per share
Director holdings after transaction: 0 shares
3 metrics
Shares disposed
10,621 shares
Common Stock cancelled in merger on June 26, 2026
Merger cash price
$25.00 per share
Cash consideration for each share of common stock
Director holdings after transaction
0 shares
Total shares held by Staci Pierce following disposition
Key Terms
Agreement and Plan of Merger, Merger Consideration, Effective Time, Director Deferred Stock Compensation Plan
4 terms
Agreement and Plan of Merger regulatory
"pursuant to that certain Agreement and Plan of Merger, dated as of March 19, 2025"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
Merger Consideration financial
"was cancelled and converted into the right to receive $25.00 per share in cash (the "Merger Consideration")"
Merger consideration is the total payment a company or buyer offers to shareholders of a target company in exchange for combining the two businesses, and can include cash, shares in the surviving company, debt assumption, or a mix of these. Investors care because the form and amount affect the deal’s value, tax consequences, immediate cash received versus future ownership, and the risk and upside of holding new shares — similar to choosing between cash now or stock that could grow later.
Effective Time regulatory
"At the effective time of the Merger ("Effective Time"), upon the terms and subject to the conditions"
The exact clock time when a regulatory filing, approval, or corporate action formally becomes legally active; from that moment the change is binding and can be acted on. Investors care because the effective time marks when ownership, rights, trading rules, or new securities take effect — like a light switch turning on a contract or transaction — which determines when risks, benefits and market reactions begin.
Director Deferred Stock Compensation Plan financial
"shares awarded under the ProAssurance Corporation Director Deferred Stock Compensation Plan ("Deferred Shares")"
FAQ
What insider transaction did ProAssurance (PRA) director Staci Pierce report?
Director Staci Pierce reported a disposition of 10,621 shares of ProAssurance common stock. The shares were cancelled and converted to cash at $25.00 per share in connection with the closing of the merger with The Doctors Company.
Was Staci Pierce’s ProAssurance (PRA) transaction an open-market sale?
No, the transaction was not an open-market sale. The 10,621 shares were cancelled and converted to cash at $25.00 per share as part of the merger consideration, described as a disposition to the issuer rather than a stock market trade.
How were ProAssurance (PRA) deferred stock awards treated in the merger?
Deferred stock awards under the Director Deferred Stock Compensation Plan were converted into a cash right. At the merger’s effective time, the total number of deferred shares, including dividend equivalents, was multiplied by the $25.00 per share Merger Consideration and paid in cash.