TWFG insider withholds 6,187 shares for taxes; retains 38,962

TWFG, Inc. (TWFG) – Form 4 filing (07/21/2025) General Counsel & Secretary Julie E. Benes reported a Rule 16(a) transaction dated 07/17/2025.

Rhea-AI Filing Summary

TWFG, Inc. (TWFG) – Form 4 filing (07/21/2025)

General Counsel & Secretary Julie E. Benes reported a Rule 16(a) transaction dated 07/17/2025. Code F indicates the company withheld 6,187 Class A shares to cover the executive’s tax liability upon vesting of previously granted RSUs. The shares were valued at $33.16 each, implying a tax-settlement value of roughly $205k. No open-market sale occurred, and the insider did not receive cash proceeds.

After the withholding, Benes’ direct ownership stands at 38,962 Class A shares. There were no derivative security transactions disclosed.

Because the shares were surrendered for taxes rather than sold for investment purposes, and the residual holding remains sizeable, the filing is typically viewed as neutral from a market-signal perspective.

Insights

Financial Analyst

TL;DR: Routine tax-withholding; negligible market impact.

Code F transactions are non-discretionary. The executive did not liquidate shares for personal gain but satisfied tax on RSU vesting. Post-transaction ownership of ~39k shares maintains strong alignment with shareholders. The $205k value is immaterial relative to TWFG’s float, therefore I rate the filing neutral.

Insider Trade Summary

Exercise Price or Tax Liability: 6,187 shares

Exercise Price or Tax Liability 1 txn

Insider Benes Julie E.

Role General Counsel and Secretary

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Class A Common Stock	6,187	$33.16	$205K

Holdings After Transaction: Class A Common Stock — 38,962 shares (Direct)

Footnotes (1)

1. F1. 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").

FAQ

Why did TWFG insider Julie E. Benes dispose of shares on 07/17/2025?

The 6,187 shares were withheld by the company to pay taxes due on vested RSUs; no open-market sale occurred.

How many TWFG shares does the insider own after the transaction?

Julie E. Benes now directly owns 38,962 Class A shares.

What price was used for the tax-withholding shares?

The shares were valued at $33.16 each for withholding purposes.

Does the Form 4 indicate any option exercises or derivative activity?

No. Table II shows no derivative securities were exercised, acquired, or disposed of.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/21/2025 - 03:41 PM Learn about SEC filing dates

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
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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^*

Benes Julie E.

(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)
	General Counsel and Secretary

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		6,187(1)	D	$33.16	38,962	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	07/21/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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