Safety Insurance (SAFT) stake trimmed as Plymouth Rock group reports share sales

Rhea-AI Filing Summary

SAFETY INSURANCE GROUP INC insider entities SRB Corporation and The Plymouth Rock Company Incorporated jointly reported indirect open-market sales of common stock. Two transactions on February 23 and 24 involved a total of 7,320 shares at prices of about $77 per share. After these sales, entities associated with Plymouth Rock and its managed insurance affiliates indirectly held 1,834,964 shares of Safety Insurance common stock. The filing notes complex ownership across multiple subsidiaries and insurance companies and states that SRB and Plymouth Rock disclaim beneficial ownership beyond their pecuniary interests.

Insider Trade Summary

Net Seller: 7,320 shares ($566,041)

Net Sell 2 txns

Insider SRB CORP, Plymouth Rock Co Inc

Role 10% Owner | 10% Owner

Sold 7,320 shs ($566K)

Type	Security	Shares	Price	Value
Sale	Common Stock	3,231	$77.1371	$249K
Sale	Common Stock	4,089	$77.4788	$317K

Holdings After Transaction: Common Stock — 1,834,964 shares (Indirect, See)

Footnotes (1)

1. This Form 4 is being jointly filed by SRB Corporation, a Massachusetts corporation ("SRB"), and The Plymouth Rock Company Incorporated, a Massachusetts corporation ("PRC"), and each shall be deemed a Reporting Person. SRB is a direct, wholly-owned subsidiary of PRC and acts as investment manager to PRC and, in such capacity, may be deemed to have voting and dispositive power over the shares of Common Stock reported on this Form 4. SRB disclaims beneficial ownership of the shares of Common Stock reported on this Form 4, and this report shall not be deemed an admission that SRB is a beneficial owner of such shares for purposes of Section 16 or for any other purpose. (Continued in Footnote 2) The Reporting Persons are making this single joint filing because they may be deemed a "group" within the meaning of Section 13(d)(3) of the Securities Act of 1934, as amended. This joint filing shall not, however, be deemed an affirmation that a group exists among the Reporting Persons for the purposes of the Securities Exchange Act of 1934 or for any other purpose and each Reporting Person expressly disclaims beneficial ownership of any securities beneficially owned by any other person. PRC holds 4,120 of the shares of Common Stock reported on this Form 4. The following subsidiaries of PRC hold in the aggregate 806,151 shares of the Common Stock reported on this Form 4: Plymouth Rock Security Corporation, a Massachusetts security corporation ("PRSC"); Plymouth Rock Assurance Corporation, a Massachusetts corporation ("PRAC"); Plymouth Rock Assurance Preferred Corporation, a New York corporation ("PRAPC"); Plymouth Rock Assurance Corporation of New York, a New York corporation ("PRACNY"); Pilgrim Insurance Company, a Massachusetts corporation ("Pilgrim"); Plymouth Rock Home Assurance Corporation, a Massachusetts corporation ("PRHAC"); Bunker Hill Insurance Casualty Company, a Massachusetts corporation ("BHICC"); Bunker Hill Preferred Insurance Company, a Massachusetts corporation ("BHPREFIC"); Bunker Hill Property Insurance Company, a Massachusetts corporation ("BHPIC"); (Continued in Footnote 4) and Bunker Hill Insurance Company, a Massachusetts corporation ("BHIC"). PRSC, PRAC, and PRHAC are direct wholly-owned subsidiaries of PRC. PRAPC and PRACNY are direct wholly-owned subsidiaries of PRAC. Pilgrim is a direct wholly-owned subsidiary of SRB. BHICC, BHPREFIC, BHPIC, and BHIC are direct wholly-owned subsidiaries of PRHAC. Palisades Safety and Insurance Association, a New Jersey reciprocal insurance exchange ("PSIA"), is managed by a subsidiary of PRC. PSIA and the following subsidiaries of PSIA hold in the aggregate 1,024,693 shares of the Common Stock reported on this Form 4: High Point Safety and Insurance Company, a New Jersey corporation ("HPSIC"); High Point Property and Casualty Insurance Company, a New Jersey corporation ("HPPCIC"); High Point Preferred Insurance Company, a New Jersey corporation ("HPPIC"); Palisades Insurance Company, a New Jersey corporation ("PICNJ"); (Continued in Footnote 5) Twin Lights Insurance Company, a New Jersey corporation ("TLIC"); and Teachers Auto Insurance Company of New Jersey, a New Jersey corporation ("TAIC"). HPSIC, HPPIC, TLIC, and TAIC are direct wholly-owned subsidiaries of HPPCIC, which is a direct wholly-owned subsidiary of PSIA, as is PICNJ. PRC disclaims beneficial ownership of the shares of Common Stock reported on this Form 4 except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that PRC is a beneficial owner of such shares for purposes of Section 16 or for any other purpose.

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Form 4 Insider Transactions: What Each Field Means →

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^*

SRB CORP

(Last) (First) (Middle)

695 ATLANTIC AVENUE

(Street)

BOSTON MA 02111

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2026

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

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

	Form filed by One Reporting Person
X	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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/23/2026		S		4,089	D	$77.4788	1,838,195(1)(2)(3)(4)(5)	I	See(1)(2)(3)(4)(5)
Common Stock	02/24/2026		S		3,231	D	$77.1371	1,834,964(1)(2)(3)(4)(5)	I	See(1)(2)(3)(4)(5)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

SRB CORP

(Last) (First) (Middle)

695 ATLANTIC AVENUE

(Street)

BOSTON MA 02111

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Plymouth Rock Co Inc

(Last) (First) (Middle)

695 ATLANTIC AVENUE

(Street)

BOSTON MA 02111

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. This Form 4 is being jointly filed by SRB Corporation, a Massachusetts corporation ("SRB"), and The Plymouth Rock Company Incorporated, a Massachusetts corporation ("PRC"), and each shall be deemed a Reporting Person. SRB is a direct, wholly-owned subsidiary of PRC and acts as investment manager to PRC and, in such capacity, may be deemed to have voting and dispositive power over the shares of Common Stock reported on this Form 4. SRB disclaims beneficial ownership of the shares of Common Stock reported on this Form 4, and this report shall not be deemed an admission that SRB is a beneficial owner of such shares for purposes of Section 16 or for any other purpose. (Continued in Footnote 2)

2. The Reporting Persons are making this single joint filing because they may be deemed a "group" within the meaning of Section 13(d)(3) of the Securities Act of 1934, as amended. This joint filing shall not, however, be deemed an affirmation that a group exists among the Reporting Persons for the purposes of the Securities Exchange Act of 1934 or for any other purpose and each Reporting Person expressly disclaims beneficial ownership of any securities beneficially owned by any other person.

3. PRC holds 4,120 of the shares of Common Stock reported on this Form 4. The following subsidiaries of PRC hold in the aggregate 806,151 shares of the Common Stock reported on this Form 4: Plymouth Rock Security Corporation, a Massachusetts security corporation ("PRSC"); Plymouth Rock Assurance Corporation, a Massachusetts corporation ("PRAC"); Plymouth Rock Assurance Preferred Corporation, a New York corporation ("PRAPC"); Plymouth Rock Assurance Corporation of New York, a New York corporation ("PRACNY"); Pilgrim Insurance Company, a Massachusetts corporation ("Pilgrim"); Plymouth Rock Home Assurance Corporation, a Massachusetts corporation ("PRHAC"); Bunker Hill Insurance Casualty Company, a Massachusetts corporation ("BHICC"); Bunker Hill Preferred Insurance Company, a Massachusetts corporation ("BHPREFIC"); Bunker Hill Property Insurance Company, a Massachusetts corporation ("BHPIC"); (Continued in Footnote 4)

4. and Bunker Hill Insurance Company, a Massachusetts corporation ("BHIC"). PRSC, PRAC, and PRHAC are direct wholly-owned subsidiaries of PRC. PRAPC and PRACNY are direct wholly-owned subsidiaries of PRAC. Pilgrim is a direct wholly-owned subsidiary of SRB. BHICC, BHPREFIC, BHPIC, and BHIC are direct wholly-owned subsidiaries of PRHAC. Palisades Safety and Insurance Association, a New Jersey reciprocal insurance exchange ("PSIA"), is managed by a subsidiary of PRC. PSIA and the following subsidiaries of PSIA hold in the aggregate 1,024,693 shares of the Common Stock reported on this Form 4: High Point Safety and Insurance Company, a New Jersey corporation ("HPSIC"); High Point Property and Casualty Insurance Company, a New Jersey corporation ("HPPCIC"); High Point Preferred Insurance Company, a New Jersey corporation ("HPPIC"); Palisades Insurance Company, a New Jersey corporation ("PICNJ"); (Continued in Footnote 5)

5. Twin Lights Insurance Company, a New Jersey corporation ("TLIC"); and Teachers Auto Insurance Company of New Jersey, a New Jersey corporation ("TAIC"). HPSIC, HPPIC, TLIC, and TAIC are direct wholly-owned subsidiaries of HPPCIC, which is a direct wholly-owned subsidiary of PSIA, as is PICNJ. PRC disclaims beneficial ownership of the shares of Common Stock reported on this Form 4 except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that PRC is a beneficial owner of such shares for purposes of Section 16 or for any other purpose.

	/s/ Frederick C. Childs	02/25/2026
	** 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.

FAQ

What did SRB Corp and Plymouth Rock report in the latest SAFETY INSURANCE (SAFT) Form 4?

They reported indirect open-market sales of Safety Insurance common stock. Two transactions on February 23 and 24 reduced their associated indirect holdings while maintaining a large aggregated position managed through various subsidiaries and insurance affiliates.

How many Safety Insurance (SAFT) shares did Plymouth Rock-related entities sell?

Plymouth Rock-related entities sold 7,320 shares of Safety Insurance common stock. The transactions were split into two sales of 4,089 shares and 3,231 shares, as disclosed in the jointly filed Form 4 by SRB Corporation and The Plymouth Rock Company.

At what prices were the Safety Insurance (SAFT) shares sold in this Form 4?

The shares were sold in open-market transactions at prices of $77.4788 and $77.1371 per share. These precise per-share amounts reflect the execution prices for the February 23 and February 24 sales disclosed in the Form 4 filing.

How many Safety Insurance (SAFT) shares are indirectly held after these sales?

After the reported sales, the filing shows 1,834,964 shares of Safety Insurance common stock indirectly held. These shares are spread across Plymouth Rock, SRB, their subsidiaries, and managed insurance entities, reflecting a substantial continuing ownership position.

Do SRB Corp and Plymouth Rock claim full beneficial ownership of the SAFT shares?

No. The filing states that SRB and Plymouth Rock disclaim beneficial ownership of the reported shares except to the extent of their pecuniary interest. They emphasize that complex subsidiary and insurance structures hold the shares and that group status is not affirmatively admitted.

Which entities associated with Plymouth Rock hold Safety Insurance (SAFT) shares?

The Form 4 lists Plymouth Rock Company, SRB Corporation, and numerous subsidiaries and insurance companies. These include Plymouth Rock Security, multiple Plymouth Rock Assurance entities, Bunker Hill insurance companies, Palisades Safety and Insurance Association, and its High Point and Palisades subsidiaries.