Director-linked entities add 22,330 TWFG (TWFG) shares at $18.87 price

Rhea-AI Filing Summary

TWFG, Inc. director Michael Doak reported net open-market purchases of 22,330 shares of Class A Common Stock at $18.87 per share. The purchases were made through entities associated with him and are reported as indirect ownership.

After these transactions, indirect holdings total 690,728 shares and direct holdings are 10,117 shares. Direct holdings include 4,000 restricted stock units granted for his board service, which vest in full on the first anniversary of their grant date if he continues as a director.

According to the disclosure, 683,579 shares are held by Griffin Highline Capital LLC and 7,149 shares are held by Dallas Specialty Insurance Company, both controlled by Griffin Highline Capital LLC. Doak disclaims beneficial ownership of shares owned by these entities except to the extent of his pecuniary interests in them.

Insider Trade Summary

Net Buyer: 22,330 shares ($421,367)

Net Buy 3 txns

Insider DOAK MICHAEL

Role null

Bought 22,330 shs ($421K)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock	11,330	$18.87	$214K
Purchase	Class A Common Stock	11,000	$18.87	$208K
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 690,728 shares (Indirect, See Footnote 2); Class A Common Stock — 10,117 shares (Direct, null)

Footnotes (1)

1. Shares of Class A Common Stock reported herein include 4,000 restricted stock units ("RSUs") previously granted to the reporting person in his capacity as a director of the issuer. The RSUs vest in full on the first anniversary of their grant date, subject to his continued service as a director through the vesting date. 683,579 shares of Class A Common Stock reported herein are held directly by Griffin Highline Capital LLC. Mr. Michael Doak is the Chief Executive Officer, Co-Chairman and Manager of Griffin Highline Capital LLC and has sole voting and dispositive power over the shares held by Griffin Highline Capital LLC. 7,149 shares of Class A Common Stock reported herein are directly held by Dallas Specialty Insurance Company, which is controlled by Griffin Highline Capital LLC. Mr. Doak disclaims beneficial ownership of any units or shares owned by either Griffin Highline Capital LLC or Dallas Specialty Insurance Company, except to the extent of his pecuniary interests therein.

Key Figures

Total shares purchased: 22,330 shares Purchase price: $18.87 per share Indirect holdings after trades: 690,728 shares +4 more

7 metrics

Total shares purchased 22,330 shares Open-market buys of Class A Common Stock

Purchase price $18.87 per share Price for both reported open-market purchases

Indirect holdings after trades 690,728 shares Class A Common Stock held indirectly post-transaction

Direct holdings after trades 10,117 shares Class A Common Stock held directly post-transaction

Restricted stock units 4,000 RSUs Director compensation, vesting on first anniversary of grant

Griffin Highline Capital LLC holdings 683,579 shares TWFG Class A shares held by Griffin Highline Capital LLC

Dallas Specialty Insurance Company holdings 7,149 shares TWFG Class A shares held by Dallas Specialty Insurance Company

Key Terms

restricted stock units ("RSUs"), vest in full, voting and dispositive power, disclaims beneficial ownership, +1 more

5 terms

restricted stock units ("RSUs") financial

"Shares of Class A Common Stock reported herein include 4,000 restricted stock units ("RSUs") previously granted to the reporting person"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

vest in full financial

"The RSUs vest in full on the first anniversary of their grant date"

voting and dispositive power financial

"has sole voting and dispositive power over the shares held by Griffin Highline Capital LLC"

disclaims beneficial ownership financial

"Mr. Doak disclaims beneficial ownership of any units or shares owned by either Griffin Highline Capital LLC or Dallas Specialty Insurance Company"

pecuniary interests financial

"except to the extent of his pecuniary interests therein"

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

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^*

DOAK MICHAEL

(Last) (First) (Middle)

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)
05/28/2026

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								10,117(1)	D
Class A Common Stock	05/28/2026		P		11,000	A	$18.87	679,398(2)	I	See Footnote 2
Class A Common Stock	05/29/2026		P		11,330	A	$18.87	690,728(2)	I	See Footnote 2

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. Shares of Class A Common Stock reported herein include 4,000 restricted stock units ("RSUs") previously granted to the reporting person in his capacity as a director of the issuer. The RSUs vest in full on the first anniversary of their grant date, subject to his continued service as a director through the vesting date.

2. 683,579 shares of Class A Common Stock reported herein are held directly by Griffin Highline Capital LLC. Mr. Michael Doak is the Chief Executive Officer, Co-Chairman and Manager of Griffin Highline Capital LLC and has sole voting and dispositive power over the shares held by Griffin Highline Capital LLC. 7,149 shares of Class A Common Stock reported herein are directly held by Dallas Specialty Insurance Company, which is controlled by Griffin Highline Capital LLC. Mr. Doak disclaims beneficial ownership of any units or shares owned by either Griffin Highline Capital LLC or Dallas Specialty Insurance Company, except to the extent of his pecuniary interests therein.

Remarks:

	/s/ Julie E. Benes, as Attorney-in-Fact for Michael Doak	05/29/2026
	** 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)

FAQ

What insider transactions did TWFG (TWFG) report for Michael Doak?

TWFG reported that entities associated with director Michael Doak bought 22,330 shares of Class A Common Stock at $18.87 per share. These are open-market purchases, increasing his reported indirect holdings while his direct holdings remain relatively small.

How many TWFG (TWFG) shares does Michael Doak hold after these transactions?

After the reported trades, Michael Doak shows 690,728 TWFG Class A shares as indirect holdings and 10,117 shares as direct holdings. The direct position includes 4,000 restricted stock units that vest on the first anniversary of their grant date, subject to service.

Which entities bought TWFG (TWFG) shares in the latest Form 4 filing?

The filing states 683,579 TWFG shares are held by Griffin Highline Capital LLC and 7,149 shares by Dallas Specialty Insurance Company, controlled by Griffin Highline Capital LLC. Purchases reported as indirect ownership are attributed to these entities associated with director Michael Doak.

At what price were the recent TWFG (TWFG) insider share purchases made?

The Form 4 shows open-market purchases of TWFG Class A Common Stock at $18.87 per share. Two transactions on consecutive days totaled 22,330 shares, all at this price, and are reported as indirect holdings linked to entities associated with director Michael Doak.

What restricted stock units does Michael Doak hold in TWFG (TWFG)?

Michael Doak holds 4,000 restricted stock units in TWFG, granted for his service as a director. These RSUs vest in full on the first anniversary of their grant date, provided he continues serving as a director through the vesting date.

Does Michael Doak claim full beneficial ownership of TWFG (TWFG) shares held by related entities?

No. The filing states Doak disclaims beneficial ownership of any shares owned by Griffin Highline Capital LLC or Dallas Specialty Insurance Company, except to the extent of his pecuniary interests in those entities, despite having sole voting and dispositive power over their holdings.