Trupanion director exercises 946 RSUs into shares

TRUPANION, INC. director Darryl Rawlings exercised previously granted restricted stock units, converting them into common shares.

Rhea-AI Filing Summary

TRUPANION, INC. director Darryl Rawlings exercised previously granted restricted stock units, converting them into common shares. On February 25, 2026, 946 RSUs were exercised at a price of $0.00 per unit and converted into 946 shares of common stock on a one-for-one basis. Following this non-cash derivative conversion, Rawlings directly owned 42,232 shares of Trupanion common stock.

Insider Trade Summary

946 shares exercised/converted

Exercise 2 txns

Insider RAWLINGS DARRYL

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit (RSU)	946	$0.00	$0.00
Exercise	Common Stock	946	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit (RSU) — 0 contracts (Direct); Common Stock — 42,232 shares (Direct)

Footnotes (2)

1. F1. Restricted stock units convert into common stock on a one-for-one basis.
2. F2. On February 28, 2022, the Reporting Person was granted 15,132 restricted stock units (RSUs). The RSUs vest and will convert to common stock of the Issuer as to 1/4th of the total shares on February 25, 2023, after which 1/16th of the total shares vest quarterly, subject to continued service through each vest date.

FAQ

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What insider transaction did Darryl Rawlings report at TRUPANION (TRUP)?

Darryl Rawlings reported exercising 946 restricted stock units that converted into 946 shares of Trupanion common stock. The transaction occurred on February 25, 2026, at a price of $0.00 per share, reflecting a non-cash derivative exercise/conversion rather than an open-market purchase.

How many TRUPANION (TRUP) shares does Darryl Rawlings own after this Form 4 filing?

After the reported derivative exercise and share conversion, Darryl Rawlings directly owned 42,232 shares of Trupanion common stock. This figure reflects his direct ownership position immediately following the February 25, 2026 transaction disclosed in the Form 4 insider trading report.

What type of securities were involved in Darryl Rawlings’ TRUPANION (TRUP) transaction?

The transaction involved restricted stock units that converted into common stock on a one-for-one basis. Rawlings exercised 946 RSUs at $0.00 per unit, resulting in the issuance of 946 shares of Trupanion common stock as part of an equity compensation arrangement.

When were the TRUPANION (TRUP) restricted stock units originally granted to Darryl Rawlings?

The disclosure states that on February 28, 2022, Darryl Rawlings was granted 15,132 restricted stock units. Those RSUs vest over time, including in quarterly installments after an initial vesting, and convert into Trupanion common stock subject to continued service through each applicable vesting date.

How do the TRUPANION (TRUP) RSUs vest for Darryl Rawlings according to the filing?

The RSUs granted on February 28, 2022 vest as to one-quarter of the total shares on February 25, 2023. After that, one-sixteenth of the total shares vest quarterly, with each vesting and conversion to common stock conditioned on continued service through the applicable vest date.

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Accepted by SEC EDGAR 02/27/2026 - 08:03 PM EST Learn about SEC filing dates

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^*

RAWLINGS DARRYL

(Last) (First) (Middle)

C/O TRUPANION, INC.

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)
02/25/2026

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	02/25/2026		M		946	A	(1)	42,232	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)	02/25/2026		M			946	(2)	02/25/2026(2)	Common Stock	946	$0	0	D

Explanation of Responses:

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

2. On February 28, 2022, the Reporting Person was granted 15,132 restricted stock units (RSUs). The RSUs vest and will convert to common stock of the Issuer as to 1/4th of the total shares on February 25, 2023, after which 1/16th of the total shares vest quarterly, subject to continued service through each vest date.

Remarks:

	/s/ Lauren Welsh as attorney-in-fact for Darryl Rawlings	02/27/2026
	** 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.