What is the performance share adjustment disclosed for SAFT’s George Murphy?

The Form 4 shows a 6,051-share adjustment representing the difference between performance shares granted on February 22, 2023 and actual shares earned by December 31, 2025. Final shares were approved by the Compensation Committee on February 25, 2026, reflecting the completed three-year performance period.

SAFETY INSURANCE (NASDAQ: SAFT) CEO logs stock awards and tax share moves

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Safety Insurance Group director, president, and CEO George Murphy reported several equity compensation changes in company common stock. On February 25, 2026, he received two restricted stock grants of 6,309 and 7,268 shares, plus a separate 6,051-share adjustment tied to performance shares earned over a three-year period. Around these awards, on February 24, 27 and March 2, 2026, he completed multiple small tax-withholding dispositions of common shares, each under 1,000 shares, to cover liabilities associated with vesting. Following these transactions, his directly held stake remained above one hundred thousand shares.

Insider Trade Summary

8 transactions reported

Mixed 8 txns

Insider Murphy George

Role PRESIDENT AND CEO

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	68	$76.18	$5K
Tax Withholding	Common Stock	712	$76.89	$55K
Tax Withholding	Common Stock	839	$77.43	$65K
Other	Common Stock	6,051	$0.00	--
Grant/Award	Common Stock	6,309	$0.00	--
Grant/Award	Common Stock	7,268	$0.00	--
Tax Withholding	Common Stock	768	$76.95	$59K
Tax Withholding	Common Stock	163	$77.43	$13K

Holdings After Transaction: Common Stock — 118,122 shares (Direct)

Footnotes (1)

Represents the difference between performance shares, with a three year performance period, that were granted on February 22, 2023 and actual shares earned at the end of the performance period on December 31, 2025. Final shares were approved by the Compensation Committee on February 25, 2026. Represents restricted stock awards effective February 25, 2026, with respect to which sale or transfer rights shall vest over three years with installments of 30% on February 25, 2027, 30% on February 25, 2028, and the remaining 40% on February 25, 2029, provided the grantee meets certain employment conditions. Represents restricted stock awards granted effective February 25, 2026 with respect to which sale or transfer rights will vest over a three-year performance period commencing on January 1, 2026 and ending on December 31, 2028. Vesting of these shares is dependent upon the attainment of pre-established performance objectives, and any difference between shares granted and shares earned at the end of the performance period will be reported at the conclusion of the performance period in 2029. Securities sold pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 29, 2025. Represents securities delivered in payment of a tax liability with respect to vesting of securities issued in accordance with Rule 16b-3. Represents the weighted average sale price of multiple open market same day sales with prices ranging from $77.32 to $77.53 per share. Full information regarding the number of shares sold at each separate price will be provided to the Securities and Exchange Commission or a security holder of the issuer upon request. Represents the weighted average sale price of multiple open market same day sales with prices ranging from $77.07 to $77.90 per share. Full information regarding the number of shares sold at each separate price will be provided to the Securities and Exchange Commission or a security holder of the issuer upon request. Represents the weighted average sale price of multiple open market same day sales with prices ranging from $75.50 to $76.22 per share. Full information regarding the number of shares sold at each separate price will be provided to the Securities and Exchange Commission or a security holder of the issuer upon request. Represents the weighted average sale price of multiple open market same day sales with prices ranging from $76.53 to $77.17 per share. Full information regarding the number of shares sold at each separate price will be provided to the Securities and Exchange Commission or a security holder of the issuer upon request.

Form 4 Insider Transactions: What Each Field Means →

03/03/2026 - 05:40 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Murphy George

(Last)

(First)

(Middle)

20 CUSTOM HOUSE STREET

(Street)

BOSTON

02110

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SAFETY INSURANCE GROUP INC [ SAFT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	PRESIDENT AND CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/24/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/25/2026		J		6,051⁽¹⁾	D	$0	106,383	D
Common Stock	02/25/2026		A		6,309⁽²⁾	A	$0	112,692	D
Common Stock	02/25/2026		A		7,268⁽³⁾	A	$0	119,960	D
Common Stock	02/24/2026		F		768⁽⁴⁾⁽⁵⁾	D	$76.95	119,192	D
Common Stock	02/24/2026		F		163⁽⁴⁾⁽⁵⁾	D	$77.43⁽⁶⁾	119,029	D
Common Stock	02/27/2026		F		839⁽⁴⁾⁽⁵⁾	D	$77.43⁽⁷⁾	118,190	D
Common Stock	03/02/2026		F		68⁽⁴⁾⁽⁵⁾	D	$76.18⁽⁸⁾	118,122	D
Common Stock	03/02/2026		F		712⁽⁴⁾⁽⁵⁾	D	$76.89⁽⁹⁾	117,410	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Represents the difference between performance shares, with a three year performance period, that were granted on February 22, 2023 and actual shares earned at the end of the performance period on December 31, 2025. Final shares were approved by the Compensation Committee on February 25, 2026.

2. Represents restricted stock awards effective February 25, 2026, with respect to which sale or transfer rights shall vest over three years with installments of 30% on February 25, 2027, 30% on February 25, 2028, and the remaining 40% on February 25, 2029, provided the grantee meets certain employment conditions.

3. Represents restricted stock awards granted effective February 25, 2026 with respect to which sale or transfer rights will vest over a three-year performance period commencing on January 1, 2026 and ending on December 31, 2028. Vesting of these shares is dependent upon the attainment of pre-established performance objectives, and any difference between shares granted and shares earned at the end of the performance period will be reported at the conclusion of the performance period in 2029.

4. Securities sold pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 29, 2025.

5. Represents securities delivered in payment of a tax liability with respect to vesting of securities issued in accordance with Rule 16b-3.

6. Represents the weighted average sale price of multiple open market same day sales with prices ranging from $77.32 to $77.53 per share. Full information regarding the number of shares sold at each separate price will be provided to the Securities and Exchange Commission or a security holder of the issuer upon request.

7. Represents the weighted average sale price of multiple open market same day sales with prices ranging from $77.07 to $77.90 per share. Full information regarding the number of shares sold at each separate price will be provided to the Securities and Exchange Commission or a security holder of the issuer upon request.

8. Represents the weighted average sale price of multiple open market same day sales with prices ranging from $75.50 to $76.22 per share. Full information regarding the number of shares sold at each separate price will be provided to the Securities and Exchange Commission or a security holder of the issuer upon request.

9. Represents the weighted average sale price of multiple open market same day sales with prices ranging from $76.53 to $77.17 per share. Full information regarding the number of shares sold at each separate price will be provided to the Securities and Exchange Commission or a security holder of the issuer upon request.

	/s/ George M. Murphy	03/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did SAFT CEO George Murphy report on this Form 4?

George Murphy reported equity compensation activity in Safety Insurance Group common stock, including restricted stock awards and tax-related share dispositions. The filing details multiple grants and small share deliveries used to satisfy tax liabilities tied to vesting and performance-based awards.

How many restricted shares did SAFT grant to George Murphy in February 2026?

On February 25, 2026, George Murphy received two restricted stock awards in Safety Insurance Group common stock totaling 6,309 and 7,268 shares. These awards include time-vesting and performance-vesting components with multi-year vesting or performance periods and related future reporting requirements.

Why did SAFT’s CEO dispose of some shares in late February and early March 2026?

The reported share dispositions are labeled as payments of tax liability through delivering shares when equity awards vested. These tax-withholding dispositions are non-open-market and are associated with securities issued in accordance with Rule 16b-3, rather than discretionary open-market selling activity.

Do the SAFT restricted stock awards to George Murphy have vesting conditions?

Yes. One group of restricted stock awards vests over three years with 30% on February 25, 2027, 30% on February 25, 2028, and 40% on February 25, 2029. Another group vests over a three-year performance period ending December 31, 2028, subject to pre-established performance objectives.

How many SAFT shares does George Murphy hold after these reported transactions?

After the reported February and March 2026 transactions, George Murphy’s direct ownership remains above one hundred thousand shares of Safety Insurance Group common stock. Exact balances vary across the transaction rows, but each post-transaction figure reported exceeds one hundred thousand directly held shares.