What are the terms of the 2023 SKWD Performance Share Units (PSUs)?

He was awarded 3,619 PSUs on February 27, 2023. The PSUs depended on performance from January 1, 2023 through December 31, 2025, could vest from 0% to 150% of target, and fully vested once performance was certified.

Skyward exec settles PSUs, withholds shares for tax

Skyward Specialty Insurance Group, Inc. executive John A. Burkhart III, President US P&C, settled 3,619 Performance Share Units into Common Stock.

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Form Type

Rhea-AI Filing Summary

Skyward Specialty Insurance Group, Inc. executive John A. Burkhart III, President US P&C, settled 3,619 Performance Share Units into Common Stock. In connection with this vesting, 1,894 shares were withheld at $43.68 per share to cover tax obligations. Following these compensation-related transactions, he directly holds 37,736 shares of Common Stock.

Insider Trade Summary

3,619 shares exercised/converted

Exercise 3 txns

Insider Burkhart John A III

Role President, US P&C

Type	Security	Shares	Price	Value
Exercise	2023 LTIP - PSUs	3,619	$0.00	$0.00
Exercise	Common Stock	4,813	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	1,894	$43.68	$83K

Holdings After Transaction: 2023 LTIP - PSUs — 0 contracts (Direct); Common Stock — 37,736 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 3,619 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 settled: 3,619 units Shares withheld for tax: 1,894 shares Withholding price: $43.68 per share +2 more

5 metrics

PSUs settled 3,619 units Performance Share Units converted to Common Stock upon settlement

Shares withheld for tax 1,894 shares Common Stock withheld to cover tax obligations on PSU vesting

Withholding price $43.68 per share Price used for shares withheld for taxes

Shares held after transactions 39,630 shares Direct Common Stock ownership following PSU settlement and withholding

Original PSU award size 3,619 PSUs Awarded February 27, 2023 under 2023 LTIP

Key Terms

Performance Share Units ("PSUs"), tax withholding obligations, vesting and settlement, Compensation Committee, +1 more

5 terms

tax withholding obligations financial

"represents shares withheld to cover tax withholding obligations in connection with the vesting and settlement of the PSUs"

vesting and settlement financial

"shares withheld to cover tax withholding obligations in connection with the vesting and settlement of the PSUs"

Compensation Committee financial

"This award fully vested on December 31, 2025 and 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.

2023 LTIP - PSUs financial

"security_title": "2023 LTIP - PSUs""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did SKWD executive John A. Burkhart III report?

He reported settlement of 3,619 Performance Share Units into Common Stock. These PSUs were part of a 2023 long-term incentive award that vested after performance criteria through December 31, 2025 and were settled upon Compensation Committee certification.

How many SKWD shares were withheld for taxes in this Form 4?

A total of 1,894 Common Stock shares were withheld to cover tax obligations. The company mandated this disposition in connection with PSU vesting, so it does not represent a discretionary market sale by the reporting person.

What is John A. Burkhart III’s SKWD shareholding after these transactions?

After the PSU settlement and tax withholding, he directly holds 39,630 shares of Skyward Specialty Insurance Group Common Stock. This reflects his updated ownership position following the compensation-related equity vesting reported in the Form 4.

Does this SKWD Form 4 show an open-market stock sale by the executive?

No, the disposition reflects shares withheld for tax obligations on PSU vesting. The footnotes state the issuer mandated this withholding, so it is not a discretionary open-market sale by the executive.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 05/08/2026 - 04:50 PM EDT

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^*

Burkhart John A III

(Last)

(First)

(Middle)

800 GESSNER

SUITE 600

(Street)

HOUSTON

TEXAS

77024

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Skyward Specialty Insurance Group, Inc. [ SKWD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President, US P&C

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/06/2026

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/06/2026		M		4,813⁽¹⁾	A	$0	39,630	D
Common Stock	05/06/2026		F⁽²⁾		1,894	D	$43.68	37,736	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
2023 LTIP - PSUs	⁽³⁾	05/06/2026		M			3,619	⁽⁴⁾	⁽⁴⁾	Common Stock	3,619	$0	0	D

Explanation of Responses:

1. 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.

2. 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.

3. Each PSU represents the right to receive one share of the Issuer's Common Stock upon settlement.

4. On February 27, 2023, the Reporting Person was awarded 3,619 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.

	/s/ Stacy E. Skelton, Attorney-in-Fact	05/08/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR