Skyward CPO settles PSUs, 1,322 shares withheld
Skyward Specialty Insurance Group, Inc. executive Thomas N. Schmitt reported compensation-related equity activity tied to performance share units.
Rhea-AI Filing Summary
Skyward Specialty Insurance Group, Inc. executive Thomas N. Schmitt reported compensation-related equity activity tied to performance share units. On May 6, 2026, he exercised derivative awards to acquire 3,358 shares of common stock and settled 2,525 performance share units (PSUs), each convertible into one share.
To cover tax withholding obligations from the PSU vesting and settlement, 1,322 shares were automatically withheld and disposed of, a transaction the company describes as mandated rather than discretionary. Following these transactions, Schmitt directly held 18,559 shares of common stock, and the PSU award granted in February 2023 is now fully vested and settled.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,525 shares exercised/converted
Exercise
3 txns
Insider
Schmitt Thomas N
Role
CPO, Skyward Group
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | 2023 LTIP - PSUs | 2,525 | $0.00 | $0.00 |
| Exercise | Common Stock | 3,358 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 1,322 | $43.68 | $58K |
Holdings After Transaction:
2023 LTIP - PSUs — 0 contracts (Direct);
Common Stock — 18,559 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 2,525 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
Shares withheld for taxes: 1,322 shares
Shares acquired via exercise: 3,358 shares
PSUs settled: 2,525 units
+3 more
6 metrics
Shares withheld for taxes
1,322 shares
Tax withholding disposition on May 6, 2026
Shares acquired via exercise
3,358 shares
Common stock from derivative exercise on May 6, 2026
PSUs settled
2,525 units
2023 LTIP PSUs settled into common stock
Post-transaction holdings
19,881 shares
Common stock held directly after transactions
PSU performance period
Jan 1, 2023–Dec 31, 2025
Period over which PSU performance criteria applied
PSU vesting range
0%–150%
Possible vesting outcomes relative to target PSUs
Key Terms
Performance Share Units, 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 with the vesting"
vesting and settlement financial
"in connection with the vesting and settlement of the PSUs listed in Line I"
Compensation Committee financial
"settled upon certification by the Compensation Committee of the Board of Directors"
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.
PSUs financial
"The number of PSUs subject to vest under this award can range"
PSUs are company shares promised to employees or executives that only become actual stock if the business hits specific performance targets over a set period. For investors, PSUs matter because they link pay to measurable outcomes — similar to a conditional bonus that converts into ownership — which can influence management decisions, dilution of shares, and signals about confidence in future results.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did SKWD executive Thomas N. Schmitt report?
Thomas N. Schmitt reported equity transactions tied to performance share units. He exercised derivative awards to acquire common stock and had shares automatically withheld to satisfy tax obligations when the PSUs vested and settled, all as part of his compensation program.
What are the terms of the 2,525 Skyward Specialty (SKWD) PSUs?
The 2,525 performance share units each entitled Schmitt to one share of Skyward Specialty common stock upon settlement. Granted on February 27, 2023, they were tied to performance from January 1, 2023 through December 31, 2025, with vesting ranging from 0% to 150% of the target amount.
When did the Skyward Specialty (SKWD) PSU award fully vest and settle?
The PSU award fully vested on December 31, 2025 and settled after the Compensation Committee certified performance. At settlement, the PSUs converted into common stock, and a portion of the resulting shares was withheld to cover tax obligations associated with the vesting event.
AI-generated analysis. How Rhea-AI works. Not financial advice.
