Safety Insurance (SAFT) VP receives stock awards and delivers shares for taxes

Rhea-AI Filing Summary

Safety Insurance Group vice president Stephen Albert Varga reported several stock-based compensation changes and related tax share deliveries. On February 25, 2026, he received 2,581 and 2,973 shares of common stock as restricted stock awards, plus a separate 2,420-share adjustment tied to a prior performance grant.

Between February 24 and March 2, 2026, Varga delivered multiple small blocks of common stock to cover tax liabilities associated with vesting awards, with prices around the mid‑$70s per share. After these transactions, he directly held just over 31,000 shares of Safety Insurance Group common stock.

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

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

X

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^*

Varga Stephen Albert

(Last) (First) (Middle)

20 CUSTOM HOUSE STREET

(Street)

BOSTON MA 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)

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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/25/2026		J		2,420(1)	D	$0	27,472	D
Common Stock	02/25/2026		A		2,581(2)	A	$0	30,053	D
Common Stock	02/25/2026		A		2,973(3)	A	$0	33,026	D
Common Stock	02/24/2026		F		477(4)(5)	D	$76.94(6)	32,549	D
Common Stock	02/24/2026		F		102(4)(5)	D	$77.43(7)	32,447	D
Common Stock	02/27/2026		F		475(4)(5)	D	$77.42(8)	31,972	D
Common Stock	03/02/2026		F		41(4)(5)	D	$76.18(9)	31,931	D
Common Stock	03/02/2026		F		428(4)(5)	D	$76.89(10)	31,503	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

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

5. Securities sold pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 25, 2025.

6. Represents the weighted average sale price of multiple open market same day sales with prices ranging from $76.28 to $77.23 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 $77.32 to $77.59 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 $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.

9. 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.

10. 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/ Stephen A. Varga	03/03/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transactions did SAFETY INSURANCE GROUP (SAFT) report for Stephen Varga?

Stephen Varga reported restricted stock awards and related tax-share deliveries. He received multiple stock grants on February 25, 2026, and then delivered smaller share blocks between February 24 and March 2, 2026 to satisfy tax obligations tied to those equity awards.

How many SAFETY INSURANCE GROUP (SAFT) shares did Stephen Varga acquire?

Stephen Varga acquired two restricted stock awards totaling several thousand shares on February 25, 2026. One award covered 2,581 common shares and another covered 2,973 shares, along with a separate 2,420-share adjustment from previously granted performance shares after the performance period ended.

Why did Stephen Varga dispose of SAFETY INSURANCE GROUP (SAFT) shares?

The reported dispositions were for tax-withholding purposes tied to vesting stock awards. Shares were delivered instead of cash to pay tax liabilities, as described as “payment of a tax liability with respect to vesting of securities” under Rule 16b-3, not open-market selling activity.

Over what dates did the SAFETY INSURANCE GROUP (SAFT) insider transactions occur?

The transactions span late February to early March 2026. Acquisitions and related adjustments occurred on February 25, 2026, while tax-withholding share deliveries took place on February 24, February 27, and March 2, 2026, reflecting multiple vesting and settlement events.

How many SAFETY INSURANCE GROUP (SAFT) shares does Stephen Varga hold after these transactions?

After the most recent reported transaction on March 2, 2026, Stephen Varga directly held 31,503 shares of Safety Insurance Group common stock. This figure reflects the net result of his February 2026 stock awards, adjustments, and the shares delivered to satisfy associated tax obligations.

What types of equity awards did SAFETY INSURANCE GROUP (SAFT) grant to Stephen Varga?

He received restricted stock awards and performance-based shares with multi-year vesting schedules. Some awards vest based on continued employment in installments over three years, while others depend on achieving pre-established performance objectives measured over a three-year performance period ending December 31, 2028.