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Trupanion (TRUP) director converts final RSU tranche into 1,906 shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

TRUPANION, INC. director Bradley S. Powell reported an automatic equity compensation event. On May 22, 2026, 639 restricted stock units vested and converted into 639 shares of common stock at $0.00 per share under a previously granted RSU award.

The filing shows this as an exercise or conversion of a derivative security, not an open-market purchase or sale. Following the conversion, Powell directly holds 1,906 shares of Trupanion common stock. The RSUs convert into common stock on a one-for-one basis and were part of a 1,906-unit grant from November 14, 2025 that vested in three equal installments.

Positive

  • None.

Negative

  • None.

Insights

Routine RSU vesting converts into common stock with no open-market trade.

Director Bradley S. Powell had 639 restricted stock units vest and convert into common stock on May 22, 2026. The transaction is coded as an exercise or conversion of a derivative security at a price of $0.00 per share, reflecting standard equity compensation mechanics.

These RSUs were part of a 1,906-unit grant dated November 14, 2025, vesting in three equal tranches on specified dates, subject to continued service. After this final vesting, Powell holds 1,906 common shares directly, and no RSUs from this grant remain outstanding, indicating a completed vesting schedule rather than a discretionary market transaction.

Insider POWELL BRADLEY S
Role Director
Type Security Shares Price Value
Exercise Restricted Stock Unit (RSU) 639 $0.00 $0.00
Exercise Common Stock 639 $0.00 $0.00
Holdings After Transaction: Restricted Stock Unit (RSU) — 0 shares (Direct); Common Stock — 1,906 shares (Direct)
Footnotes (2)
  1. F1. Restricted stock units convert into common stock on a one-for-one basis.
  2. F2. 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.
RSUs converted 639 shares Restricted stock units vested and converted on May 22, 2026
Post-transaction holdings 1,906 shares Common stock directly held by Bradley S. Powell after transaction
RSU grant size 1,906 units Restricted stock units granted on November 14, 2025
Conversion price $0.00 per share Exercise or conversion of RSUs into common stock
Vesting schedule Three equal installments Vesting on Nov 22, 2025; Feb 22, 2026; May 22, 2026
Exercise transactions 1 transaction, 639 shares Summary of derivative exercise activity in this Form 4
Restricted Stock Unit (RSU) financial
"Restricted Stock Unit (RSU)"
A restricted stock unit (RSU) is a promise from a company to give an employee company shares (or cash equal to their value) at a future date if certain conditions are met, such as staying with the company or hitting performance targets. For investors, RSUs matter because when they convert into actual shares they increase the number of shares available and can create selling pressure as employees cash out—think of them as a future paycheck paid in company stock.
Exercise or conversion of derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
vest financial
"The RSUs vest and convert into common stock of the Issuer"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
one-for-one basis financial
"Restricted stock units convert into common stock on a one-for-one basis."

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FAQ

What insider transaction did Trupanion (TRUP) director Bradley S. Powell report?
Bradley S. Powell reported an automatic conversion of 639 restricted stock units into 639 shares of Trupanion common stock. The event reflects equity compensation vesting, not an open-market trade, and is coded as an exercise or conversion of a derivative security.

How many Trupanion shares does Bradley S. Powell hold after this Form 4 transaction?
After the reported transaction, Bradley S. Powell directly holds 1,906 shares of Trupanion common stock. This total reflects the full vesting and conversion of his 1,906 restricted stock units granted on November 14, 2025, into common shares.

Was the Trupanion Form 4 for Bradley S. Powell a stock purchase or sale?
The Form 4 does not show a market purchase or sale. It reports an exercise or conversion of 639 restricted stock units into common stock at $0.00 per share, a standard vesting event under an existing RSU grant rather than an open-market trade.

What was the size and structure of Bradley S. Powell’s Trupanion RSU grant?
Powell received a grant of 1,906 restricted stock units on November 14, 2025. The RSUs vest and convert into common stock in three equal installments on November 22, 2025, February 22, 2026, and May 22, 2026, subject to continued service through each vest date.

How do Bradley S. Powell’s Trupanion RSUs convert into common stock?
Powell’s restricted stock units convert into Trupanion common stock on a one-for-one basis. When each vesting date is reached, the corresponding RSUs automatically convert into an equal number of common shares at $0.00 per share, as reflected in the Form 4 filing.
SEC Form 4
FORM 4UNITED 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*
POWELL BRADLEY S
(Last)(First)(Middle)
6100 4TH AVENUE SOUTH
SUITE 200
(Street)
SEATTLE WASHINGTON 98108
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
TRUPANION, INC. [ TRUP ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/22/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock05/22/2026M639A(1)1,906D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Unit (RSU)(1)05/22/2026M639 (2)05/22/2026(2)Common Stock639$00D
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/ Lauren Welsh as attorney-in-fact for Bradley S. Powell05/27/2026
** Signature of Reporting PersonDate
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