[Form 4] TRUPANION, INC. Insider Trading Activity

Rhea-AI Filing Summary

Trupanion, Inc. (TRUP) director Bradley S. Powell reported an automatic share acquisition tied to equity awards. On 11/24/2025, 629 restricted stock units converted into 629 shares of common stock, reported as an acquisition of non-derivative securities. Following this transaction, he directly owned 629 shares of Trupanion common stock.

The filing also shows a remaining balance of 1,277 restricted stock units after the conversion, all held directly. These RSUs were part of a 1,906-unit grant awarded on November 14, 2025, which vests in three equal installments on November 22, 2025, February 22, 2026, and May 22, 2026, subject to continued service through each vesting date. The RSUs convert into common stock on a one-for-one basis at no cash exercise price.

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
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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^*

POWELL BRADLEY S

(Last) (First) (Middle)

6100 4TH AVENUE SOUTH

SUITE 200

(Street)

SEATTLE WA 98108

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TRUPANION, INC. [ TRUP ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/24/2025

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	11/24/2025		M		629	A	(1)	629	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
Restricted Stock Unit (RSU)	(1)	11/24/2025		M			629	(2)	05/22/2026(2)	Common Stock	629	$0	1,277	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. On November 14, 2025, the Reporting Person was granted 1,906 restricted stock units (RSUs). The RSUs vest and convert into common stock of the Issuer as to 1/3rd of the total shares on November 22, 2025, February 22, 2026, and May 22, 2026, subject to continued service through each vest date.

Remarks:

	/s/ Christina Poler as attorney-in-fact for Bradley S. Powell	11/25/2025
	** 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.

FAQ

What insider transaction did Trupanion (TRUP) report in this Form 4?

The report shows that director Bradley S. Powell acquired 629 shares of Trupanion common stock on 11/24/2025 through the conversion of restricted stock units.

How many Trupanion (TRUP) shares does the reporting person own after this transaction?

After the transaction, the reporting person beneficially owned 629 shares of Trupanion common stock, held directly.

What happens to the restricted stock units (RSUs) in this Trupanion (TRUP) filing?

In this filing, 629 RSUs converted into 629 common shares, and 1,277 RSUs remained outstanding, all on a one-for-one conversion basis.

What was the original Trupanion (TRUP) RSU grant mentioned in the Form 4?

On November 14, 2025, the reporting person received a grant of 1,906 RSUs, which vest and convert into common stock in three equal installments.

What is the vesting schedule for the Trupanion (TRUP) RSUs in this report?

The 1,906 RSUs vest and convert into common stock in three equal parts on November 22, 2025, February 22, 2026, and May 22, 2026, subject to continued service.

Is there an exercise price for the Trupanion (TRUP) RSUs reported?

The RSUs convert into Trupanion common stock at an exercise price of $0, meaning no cash payment is required upon conversion.

What type of relationship does the reporting person have with Trupanion (TRUP)?

The reporting person is identified as a director of Trupanion, Inc. in the Form 4.