[Form 4] TWFG, Inc. Insider Trading Activity

Rhea-AI Filing Summary

On 21 Jul 2025, Ennis, Inc. (ticker EBF) filed a Form 3—Initial Statement of Beneficial Ownership—on behalf of Michael D. Magill. The disclosure establishes Magill’s baseline holdings upon becoming a Director effective 17 Jul 2025. He directly owns 12,833 shares of EBF common stock and reports no derivative securities. The form was filed individually and signed by attorney-in-fact Keith S. Walters.

Form 3 filings are routine compliance documents under Section 16(a) and, in isolation, rarely influence valuation. The modest share count implies limited economic weight relative to Ennis’s total outstanding shares, but the ownership does create alignment between the new board member and common shareholders.

Insights

Securities Analyst

TL;DR: Routine Form 3: new director Michael D. Magill holds 12,833 EBF shares; no derivatives; negligible valuation impact.

The filing simply records Magill’s initial insider position. With no derivative exposure and a sub-1% stake, trading implications are minimal. Investors may view any insider ownership as a mild governance positive, but the absolute size offers little signaling power for future performance.

Corporate Governance Expert

TL;DR: Compliance update confirms new director’s share ownership, aligning interests yet lacking material significance.

Section 16 compliance ensures transparency. While 12,833 shares reflect some skin in the game, effective oversight depends more on strategic expertise than share count. No red flags appear in the filing, and the absence of complex derivative positions limits potential conflicts.

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).

1. Name and Address of Reporting Person^*

Nolan Katherine C

(Last) (First) (Middle)

C/O TWFG, INC.

10055 GROGANS MILL RD, SUITE 500

(Street)

THE WOODLANDS TX 77380

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/17/2025

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
Class A Common Stock	07/17/2025		F		11,588(1)	D	$33.16	81,936	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

Explanation of Responses:

1. The shares are withheld at the election of the Reporting Person to satisfy tax withholding obligations in connection with the release of restricted stock units ("RSU").

Remarks:

	/s/ Julie E. Benes, as Attorney-In-Fact for Katherine C. Nolan	07/21/2025
	** 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

Who filed the Form 3 for Ennis (EBF)?

The report was filed for Michael D. Magill, a newly appointed Director of Ennis, Inc.

How many Ennis common shares does Michael D. Magill own?

Magill directly owns 12,833 shares of Ennis common stock.

Were any derivative securities reported in the Form 3?

No. The filing lists no options, warrants, or other derivative holdings.

What is the event date for this initial ownership statement?

The relevant event date is 17 July 2025.

Does this filing indicate a significant ownership change at Ennis?

No. It is an initial disclosure required when an individual becomes a director; the share count is modest relative to total shares outstanding.