TWFG (NASDAQ: TWFG) director and spouse receive RSU grants with tax withholding

Rhea-AI Filing Summary

TWFG, Inc. director Michelle Caroline Bunch reported equity awards and related tax withholding involving Class A Common Stock. She received 4,000 restricted stock units (RSUs) as a director grant, bringing her direct holdings to 15,967 shares. These RSUs vest in full on the first anniversary of the grant date, subject to continued board service.

Her husband received 27,500 RSUs under the 2024 Omnibus Incentive Plan, vesting in three equal annual installments on March 31, 2027, March 31, 2028 and March 31, 2029, contingent on his continued service. In connection with RSU release, 2,133 shares were withheld at his election at $18.39 per share to satisfy tax withholding obligations, leaving 331,329 shares held indirectly through him. The filing also lists indirect holdings through two sons and Bunch Family Holdings, LLC on separate lines.

Insider Trade Summary

6 transactions reported

Mixed 6 txns

Insider Bunch Michelle Caroline

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	4,000	$0.00	--
Grant/Award	Class A Common Stock	27,500	$0.00	--
Tax Withholding	Class A Common Stock	2,133	$18.39	$39K
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 15,967 shares (Direct); Class A Common Stock — 333,462 shares (Indirect, By husband)

Footnotes (1)

1. Represents restricted stock units ("RSUs") granted to the reporting person in her capacity as a director of the issuer. The RSUs vest in full on the first anniversary of the grant date, subject to her continued service as a director through the vesting date. Represents RSUs granted to her husband ("Mr. Bunch") under the 2024 Omnibus Incentive Plan. The RSUs vest in three equal annual installments on March 31, 2027, March 31, 2028, and March 31, 2029, subject to his continued service with the issuer through each vesting date. Represents the shares withheld at the election of Mr. Bunch to satisfy tax withholding obligations in connection with the release of RSUs. Represent shares of Class A Common Stock held by Mr. Bunch, sons and Bunch Family Holdings, LLC (the "LLC"). The holdings lines reflect the individual holdings of the distinct indirect forms of deemed pecuniary interest instead of reporting them in an aggregated form.

Form 4 Insider Transactions: What Each Field Means →

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

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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^*

Bunch Michelle Caroline

(Last) (First) (Middle)

C/O

10055 GROGANS MILL RD, SUITE 500

(Street)

THE WOODLANDS TEXAS 77380

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TWFG, Inc. [ TWFG ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	03/31/2026		A		4,000(1)	A	$0	15,967	D
Class A Common Stock	03/31/2026		A		27,500(2)	A	$0	333,462	I	By husband
Class A Common Stock	03/31/2026		F		2,133(3)	D	$18.39	331,329	I	By husband
Class A Common Stock								5,850(4)	I	By first son
Class A Common Stock								5,850(4)	I	By second son
Class A Common Stock								342,362(4)	I	By LLC

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

Explanation of Responses:

1. Represents restricted stock units ("RSUs") granted to the reporting person in her capacity as a director of the issuer. The RSUs vest in full on the first anniversary of the grant date, subject to her continued service as a director through the vesting date.

2. Represents RSUs granted to her husband ("Mr. Bunch") under the 2024 Omnibus Incentive Plan. The RSUs vest in three equal annual installments on March 31, 2027, March 31, 2028, and March 31, 2029, subject to his continued service with the issuer through each vesting date.

3. Represents the shares withheld at the election of Mr. Bunch to satisfy tax withholding obligations in connection with the release of RSUs.

4. Represent shares of Class A Common Stock held by Mr. Bunch, sons and Bunch Family Holdings, LLC (the "LLC"). The holdings lines reflect the individual holdings of the distinct indirect forms of deemed pecuniary interest instead of reporting them in an aggregated form.

Remarks:

	/s/ Julie E. Benes, as Attorney-in-Fact for Michelle C. Bunch	04/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)