Skyward Specialty executive exercises PSU award
Skyward Specialty Insurance Group, Inc. reports that Head of Actuarial Sandip A. Kapadia settled a 2023 LTIP Performance Share Unit award on May 6, 2026.
Rhea-AI Filing Summary
Skyward Specialty Insurance Group, Inc. reports that Head of Actuarial Sandip A. Kapadia settled a 2023 LTIP Performance Share Unit award on May 6, 2026. He exercised 2,020 PSUs granted on February 27, 2023, receiving 2,686 shares of Common Stock after the award fully vested based on performance through December 31, 2025.
In connection with this vesting, 1,374 shares were automatically withheld at $43.6800 per share to satisfy tax withholding obligations, a disposition mandated by the issuer and not discretionary. After these transactions, he directly owns 18,353 shares of Skyward Specialty common stock.
Positive
- None.
Negative
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Insider Trade Summary
2,020 shares exercised/converted
Exercise
3 txns
Insider
Kapadia Sandip A
Role
Head of Actuarial
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | 2023 LTIP - PSUs | 2,020 | $0.00 | $0.00 |
| Exercise | Common Stock | 2,686 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 1,374 | $43.68 | $60K |
Holdings After Transaction:
2023 LTIP - PSUs — 0 contracts (Direct);
Common Stock — 18,353 shares (Direct)
Footnotes (4)
- F1. Represents the number of shares that were acquired by the Reporting Person in connection with the settlement of the Performance Share Units ("PSUs") listed in Line I of Table II.
- F2. The disposition reported on this Form 4 represents shares withheld to cover tax withholding obligations in connection with the vesting and settlement of the PSUs listed in Line I of Table II. The disposition is mandated by the Issuer and does not represent a discretionary transaction by the Reporting Person.
- F3. Each PSU represents the right to receive one share of the Issuer's Common Stock upon settlement.
- F4. On February 27, 2023, the Reporting Person was awarded 2,020 PSUs. The PSUs are subject to obtaining specified performance criteria from January 1, 2023 through December 31, 2025. The number of PSUs subject to vest under this award can range from 0% to 150% of the amount shown. This award fully vested on December 31, 2025 and settled upon certification by the Compensation Committee of the Board of Directors.
Key Figures
PSUs exercised: 2,020 PSUs
Common shares acquired: 2,686 shares
Shares withheld for taxes: 1,374 shares
+3 more
6 metrics
PSUs exercised
2,020 PSUs
2023 LTIP Performance Share Units exercised into Common Stock on May 6, 2026
Common shares acquired
2,686 shares
Common Stock received upon settlement of PSUs on May 6, 2026
Shares withheld for taxes
1,374 shares
Shares withheld to cover tax withholding obligations upon PSU vesting
Tax withholding price
$43.6800 per share
Per-share value used for the tax-withholding share disposition
Post-transaction holdings
18,353 shares
Common Stock directly owned by Kapadia after reported transactions
Original PSU award size
2,020 PSUs
Performance Share Units awarded on February 27, 2023 under the 2023 LTIP
Key Terms
Performance Share Units ("PSUs"), tax withholding obligations, vesting and settlement, Compensation Committee, +1 more
5 terms
tax withholding obligations financial
"shares withheld to cover tax withholding obligations in connection"
vesting and settlement financial
"in connection with the vesting and settlement of the PSUs"
Compensation Committee regulatory
"settled upon certification by the Compensation Committee of the Board"
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
LTIP financial
"2023 LTIP - PSUs"
LTIP stands for Long-Term Incentive Plan, a company program that pays executives and key employees with stock, cash, or other rewards tied to multi-year performance targets and continued service. It matters to investors because it aligns management’s pay with the company’s long-term success—like paying a gardener in future harvest to ensure the orchard thrives—while also affecting share count and reported expenses, which can influence future returns.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did SKWD report for Sandip A. Kapadia?
Skyward Specialty reported that Sandip A. Kapadia settled a 2023 Performance Share Unit award, exercising 2,020 PSUs into 2,686 shares of Common Stock, with a portion of those shares withheld to cover tax obligations mandated by the company.
What are Sandip A. Kapadia’s post-transaction SKWD holdings?
After the reported PSU exercise and tax withholding, Sandip A. Kapadia directly owns 18,353 shares of Skyward Specialty Insurance Group, Inc. Common Stock, reflecting his current reported equity position following these May 6, 2026 transactions.
What were the key terms of Kapadia’s 2023 PSUs at Skyward Specialty (SKWD)?
Kapadia was awarded 2,020 Performance Share Units on February 27, 2023 under the 2023 LTIP. The PSUs were tied to performance criteria for January 1, 2023 through December 31, 2025, could vest between 0% and 150% of target, and fully vested by year-end 2025.
AI-generated analysis. How Rhea-AI works. Not financial advice.
