[Form 4] SelectQuote, Inc. Insider Trading Activity
Rhea-AI Filing Summary
Form 4 shows President Robert Clay Grant’s latest equity activity at SelectQuote (SLQT) on 1–2 Aug 2025. Seven tranches of previously granted RSUs and price-vested units vested (transaction code M), delivering ≈631,089 common shares at $0 exercise cost. A day later, 204,163 shares were withheld at $1.74 to cover taxes (code F). Direct ownership after the transactions rose to 2,891,334 shares.
Grant continues to hold significant indirect stakes—1.24 M shares in a personal trust, 184.2 k shares across three children’s trusts, and 1.09 M shares via Haakon Capital—plus unvested derivative holdings. Table II records new equity compensation awards: 460 k time-based RSUs and 460 k price-vested RSUs granted on 1 Aug 2025 (code A), each convertible 1-for-1 into common stock and subject to multi-year vesting/performance hurdles. Remaining unvested derivative balance totals several hundred-thousand units.
Positive
- Net increase of ~427 k shares held directly by the president, signalling confidence.
- 920 k new RSU/PVU awards use multi-year vesting and price hurdles, fostering long-term alignment.
Negative
- Incremental dilution possible if all new awards vest and convert.
- 204 k shares disposed for tax withholding slightly reduces float support.
Insights
TL;DR: Routine vesting boosts insider stake; new 920 k-share grant indicates retention focus.
The filing is largely compensation-driven. Net share addition (~427 k) signals continued alignment as the president elected to keep most vested stock. New grants are sizable relative to the 171 M shares outstanding (≈0.5%) but spread over multi-year vesting and price hurdles, limiting near-term dilution. The 204 k shares withheld for taxes are non-discretionary. Overall impact is neutral-positive: no open-market selling, stronger insider ownership, yet modest incremental dilution.
TL;DR: Equity incentives tie leadership to price targets; no red flags.
The mix of time-based and price-vested RSUs aligns Grant’s interests with shareholders by requiring sustained employment and share-price appreciation ($2.50–$12.50 hurdles). Grant’s indirect holdings and trust structures are common estate-planning tools. Absence of discretionary sales lowers governance risk. Impact deemed neutral; investors may view increasing insider exposure favorably.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock, par value $0.01 per share | 204,163 | $1.74 | $355K |
| Exercise | Restricted Stock Units | 10,804 | $0.00 | -- |
| Exercise | Restricted Stock Units | 105,602 | $0.00 | -- |
| Exercise | Restricted Stock Units | 255,555 | $0.00 | -- |
| Exercise | Restricted Stock Units | 122,470 | $0.00 | -- |
| Exercise | Price-Vested Restricted Stock Units | 63,889 | $0.00 | -- |
| Exercise | Price-Vested Restricted Stock Units | 31,945 | $0.00 | -- |
| Exercise | Price-Vested Restricted Stock Units | 40,824 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 460,000 | $0.00 | -- |
| Grant/Award | Price-Vested Restricted Stock Units | 460,000 | $0.00 | -- |
| Exercise | Common Stock, par value $0.01 per share | 10,804 | $0.00 | -- |
| Exercise | Common Stock, par value $0.01 per share | 105,602 | $0.00 | -- |
| Exercise | Common Stock, par value $0.01 per share | 255,555 | $0.00 | -- |
| Exercise | Common Stock, par value $0.01 per share | 122,470 | $0.00 | -- |
| Exercise | Common Stock, par value $0.01 per share | 63,889 | $0.00 | -- |
| Exercise | Common Stock, par value $0.01 per share | 31,945 | $0.00 | -- |
| Exercise | Common Stock, par value $0.01 per share | 40,824 | $0.00 | -- |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
Footnotes (1)
- Represents shares surrendered to the issuer to satisfy withholding taxes owed upon the vesting of price-vested units and time-based restricted stock units previously granted to the recipient. Shares held indirectly by Mr. Grant in his capacity as Trustee of a trust for the benefit of one of his minor children. Beneficially owned by Mr. Grant through Haakon Capital, LLC, an investment company of which he owns one-third. Mr. Grant disclaims beneficial ownership of the shares held by Haakon Capital, LLC, except to the extent of his pecuniary interest therein. Represents restricted stock units of SelectQuote, Inc. (the "Company") granted to Mr. Grant under the Company's 2020 Omnibus Incentive Plan (the "Plan"). Each restricted stock unit represents a contingent right to receive one share of the Company's common stock, par value $0.01 per share. The restricted stock units vest ratably in four annual installments commencing on the one-year anniversary of the grant date, subject to the recipient's continued employment with the Company through the applicable vesting date. The restricted stock units vest ratably in three annual installments commencing on the one-year anniversary of the grant date, subject to the recipient's continued employment with the Company through the applicable vesting date. The restricted stock units vest ratably in three annual installments commencing on August 1, 2024, subject to the recipient's continued employment with the Company through the applicable vesting date. The restricted stock units vest ratably in three annual installments commencing on August 1, 2025, subject to the recipient's continued employment with the Company through the applicable vesting date. Represents price-vested restricted stock units of the Company ("PVUs") granted to the recipient pursuant to the Plan. Each PVU represents the contingent right to receive one share of the Company's common stock, par value $0.01 per share, upon the Company's common stock reaching certain predetermined average trading prices, subject to applicable vesting conditions. The PVUs are eligible to vest in three ratable annual installments commencing on the one-year anniversary of the grant date, subject to the recipient's continued employment with the Company through the applicable vesting date. Subject to this vesting schedule, one-fourth of the total number of PVUs granted will vest, if at all, upon the 60-day average closing price of the Company's common stock reaching each of $4.00, $7.50, $10.00, and $12.50 during the five-year performance period. The number of PVUs reported on this line reflects the portion of the total PVU award that vested on the transaction date following the achievement of the $4.00 price hurdle. The PVUs are eligible to vest in three ratable annual installments commencing on August 1, 2024, subject to the recipient's continued employment with the Company through the applicable vesting date. Subject to this vesting schedule, one-fourth of the total number of PVUs granted will vest, if at all, upon the 60-day average closing price of the Company's common stock exceeding each of $2.50, $5.00, $7.50, and $10.00 during the five-year performance period. The number of PVUs reported on this line reflects the portion of the total PVU award that vested on the transaction date following the achievement of the $2.50 price hurdle. The PVUs are eligible to vest in three ratable annual installments commencing on August 1, 2025, subject to the recipient's continued employment with the Company through the applicable vesting date. Subject to this vesting schedule, one-third of the total number of PVUs granted will vest, if at all, upon the 60-day average closing price of the Company's common stock exceeding each of $3.13, $6.00, and $9.00 during the five-year performance period. The number of PVUs reported on this line reflects the portion of the total PVU award that vested on the transaction date following the achievement of the $3.13 price hurdle. The PVUs are eligible to vest in three ratable annual installments commencing on the one-year anniversary of the grant date, subject to the recipient's continued employment with the Company through the applicable vesting date. Subject to this vesting schedule, one-third of the total number of PVUs granted will vest, if at all, upon the 60-day average closing price of the Company's common stock exceeding each of $2.50, $4.00, and $6.00 during the five-year performance period.
FAQ
What is Grant’s direct ownership after the filing?
Were new equity awards granted in this Form 4?
What price hurdles apply to the new price-vested RSUs?
