Trupanion director reports 1,359-share collateral transfer
TRUPANION, INC. director Darryl Rawlings reported an internal restructuring-related transaction involving indirectly held common stock.
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Form Type
4
Rhea-AI Filing Summary
TRUPANION, INC. director Darryl Rawlings reported an internal restructuring-related transaction involving indirectly held common stock. On May 6, 2026, Kuyashii Primary Equities LLC, an entity associated with him, received 1,359 shares after an event of default on a secured loan with stock pledged as collateral. Following this collateral delivery, Kuyashii Primary Equities LLC is shown as beneficially owning 1,435,340 shares of Trupanion common stock indirectly held for Rawlings.
Insider Trade Summary
Other: 1,359 shares
Other
1 txn
Insider
RAWLINGS DARRYL
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 1,359 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 1,435,340 shares (Indirect, By Kuyashii Primary Equities LLC)
Footnotes (2)
- F1. The reporting person made a secured loan to a third party with stock pledged as collateral. The loan is to be repaid in installments. On May 6, 2026, after an event of default on the first installment, reporting person demanded delivery of shares attributable to the first installment.
- F2. The total amount of securities beneficially owned by Kuyashii Primary Equities LLC has been adjusted to correct a scrivener's error. On May 7, 2024, a Form 4 was filed reporting a direct purchase of 20,700 shares by the reporting person; however, such shares were in fact purchased by Kuyashii Primary Equities LLC. This footnote (2) is made to correct the reporting of beneficial ownership.
Key Figures
Restructuring shares: 1,359 shares
Price per share: $0.00
Indirect holdings after transaction: 1,435,340 shares
+1 more
4 metrics
Restructuring shares
1,359 shares
Shares delivered as collateral on May 6, 2026
Price per share
$0.00
Reported transaction price for 1,359 shares
Indirect holdings after transaction
1,435,340 shares
Total Trupanion common stock beneficially owned via Kuyashii Primary Equities LLC
Restructuring share count
1,359 shares
Classified as restructuring in transaction summary
Key Terms
secured loan, event of default, beneficially owned, scrivener's error, +1 more
5 terms
secured loan financial
"The reporting person made a secured loan to a third party with stock pledged as collateral."
A secured loan is debt backed by a specific asset—such as property, equipment, or inventory—that the lender can seize if the borrower fails to repay. Think of it like pawning a watch for cash: the lender has a tangible fallback. For investors, secured loans matter because they reduce lender risk, typically carry lower interest and higher repayment priority in distress, and can affect a borrower’s credit profile and balance-sheet flexibility.
event of default financial
"On May 6, 2026, after an event of default on the first installment, reporting person demanded delivery of shares"
An event of default is a specific breach of a loan or bond agreement—such as missed payments or breaking agreed rules—that gives lenders the legal right to act, for example by demanding immediate repayment, seizing collateral, or accelerating other obligations. For investors, it’s a red flag because it can sharply reduce a company’s ability to operate or raise money, like a car lender repossessing a vehicle after missed payments, and often leads to falling share or bond prices.
beneficially owned financial
"The total amount of securities beneficially owned by Kuyashii Primary Equities LLC has been adjusted"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
scrivener's error financial
"has been adjusted to correct a scrivener's error."
indirect financial
"total_shares_following_transaction ... "ownership_type": "indirect""
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did TRUP director Darryl Rawlings report in this Form 4 filing?
Darryl Rawlings reported an internal restructuring-type transaction involving 1,359 shares of Trupanion common stock. The shares were delivered to Kuyashii Primary Equities LLC after a secured loan default, changing how his indirect beneficial ownership through that entity is reported.
Is this TRUP Form 4 an open-market buy or sell by Darryl Rawlings?
No, the Form 4 describes an “other” transaction, not an open-market trade. The 1,359 shares moved as collateral after a loan default, categorized as an internal restructuring event rather than a discretionary purchase or sale in the market by Rawlings.
What scrivener’s error did this TRUP Form 4 correct regarding prior ownership reporting?
The filing explains that a May 7, 2024 Form 4 mistakenly reported a direct purchase of 20,700 shares by Rawlings. In fact, those shares were purchased by Kuyashii Primary Equities LLC, so this correction shifts the reported beneficial ownership from direct to indirect via the LLC.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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