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Safety Insurance (NASDAQ: SAFT) VP logs stock grants and tax share disposals

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Safety Insurance Group VP of Underwriting Mary Frances McConnell reported a mix of equity awards and related tax-withholding share dispositions in common stock. On February 25, 2026, she acquired 1,721 and 1,982 shares through stock grants at $0.00 per share, and a further 275 shares were recorded as an adjustment to earlier performance share awards.

To satisfy tax obligations tied to vesting, she disposed of small share amounts under code F, including 191 shares at $77.38 on February 27, 2026, and several additional lots of 37, 8, 14, and 183 shares around $76–$77 per share on February 24 and March 2, 2026. After the most recent transaction, her direct common stock holdings were 9,471 shares.

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Insider McConnell Mary Frances
Role VP of Underwriting
Type Security Shares Price Value
Tax Withholding Common Stock 14 $76.17 $1K
Tax Withholding Common Stock 183 $76.88 $14K
Tax Withholding Common Stock 191 $77.38 $15K
Other Common Stock 275 $0.00 --
Grant/Award Common Stock 1,721 $0.00 --
Grant/Award Common Stock 1,982 $0.00 --
Tax Withholding Common Stock 37 $76.94 $3K
Tax Withholding Common Stock 8 $77.42 $619.36
Holdings After Transaction: Common Stock — 9,654 shares (Direct)
Footnotes (1)
  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. Represents securities delivered in payment of a tax liability with respect to vesting of securities issued in accordance with Rule 16b-3. Securities sold pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 25, 2025. 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. Represents the weighted average sale price of multiple open market same day sales with prices ranging from $77.32 to $77.54 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 →
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).
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*
McConnell Mary Frances
(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 of Underwriting
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 275(1) D $0 6,201 D
Common Stock 02/25/2026 A 1,721(2) A $0 7,922 D
Common Stock 02/25/2026 A 1,982(3) A $0 9,904 D
Common Stock 02/24/2026 F 37(4)(5) D $76.94(6) 9,867 D
Common Stock 02/24/2026 F 8(4)(5) D $77.42(7) 9,859 D
Common Stock 02/27/2026 F 191(4)(5) D $77.38(8) 9,668 D
Common Stock 03/02/2026 F 14(4)(5) D $76.17(9) 9,654 D
Common Stock 03/02/2026 F 183(4)(5) D $76.88(10) 9,471 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 $77.54 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/ Mary F. McConnell 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 Safety Insurance (SAFT) VP Mary Frances McConnell report?

Mary Frances McConnell reported stock grants and related tax-withholding dispositions in Safety Insurance common stock. She received grants of 1,721 and 1,982 shares and had several small F-code transactions where shares were withheld to cover tax liabilities on vested awards.

How many Safety Insurance (SAFT) shares did the VP acquire and dispose of in this Form 4?

The VP acquired 1,721 and 1,982 common shares through stock grants and an additional 275 shares from a performance share adjustment. She disposed of small blocks of 191, 37, 8, 14, and 183 shares to pay taxes related to vesting, using share delivery instead of cash.

What does transaction code F mean in the Safety Insurance (SAFT) Form 4?

Transaction code F indicates shares delivered to pay an exercise price or tax liability. In this filing, F-code entries show common shares withheld or delivered to satisfy taxes triggered by vesting of equity awards, rather than open-market sales initiated for investment purposes.

How many Safety Insurance (SAFT) shares does the VP hold after these transactions?

After the reported transactions, the VP’s direct ownership stands at 9,471 common shares. This figure reflects the net result of her stock grants, performance share adjustment, and multiple small tax-withholding share dispositions reported across February 24–27 and March 2, 2026.

What are the vesting terms of the Safety Insurance (SAFT) restricted stock granted to the VP?

One restricted stock award vests over three years, with 30% on February 25, 2027, 30% on February 25, 2028, and 40% on February 25, 2029, subject to employment conditions. Another grant vests over a three-year performance period from January 1, 2026, to December 31, 2028.

How were Safety Insurance (SAFT) performance shares treated in this Form 4 filing?

The filing records 275 shares as the difference between performance shares granted on February 22, 2023 and actual shares earned as of December 31, 2025. The final number of shares was approved by the Compensation Committee on February 25, 2026, and is now reflected in the holdings.