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

The reported insider purchases of TWFG Class A Common Stock were made at about $18.52 and $18.79 per share. These open-market buys totalled 33,283 shares and were executed over two days, modestly increasing the associated entities’ overall equity stake.

Director of TWFG, Inc. (TWFG) adds 33,283 Class A shares indirectly

Filing Impact

(High)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

Entities associated with TWFG, Inc. director Michael Doak bought a total of 33,283 shares of Class A Common Stock in open-market transactions at prices around $18.52–$18.79 per share. After these purchases, they held 621,518 indirect shares, while Doak also held 10,117 shares directly, including 4,000 RSUs that vest after one year of service.

Insider Trade Summary

Net Buyer: 33,283 shares ($620,652)

Net Buy 3 txns

Insider DOAK MICHAEL

Role null

Bought 33,283 shs ($621K)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock	17,538	$18.52	$325K
Purchase	Class A Common Stock	15,745	$18.79	$296K
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 621,518 shares (Indirect, See Footnote 2); Class A Common Stock — 10,117 shares (Direct, null)

Footnotes (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 services as a director through the vesting date. 619,196 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. 2,322 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

Open-market purchases: 33,283 shares Purchase price 1: $18.52 per share Purchase price 2: $18.79 per share +5 more

8 metrics

Open-market purchases 33,283 shares Net Class A Common Stock bought in open market

Purchase price 1 $18.52 per share Open-market buy of 17,538 Class A shares

Purchase price 2 $18.79 per share Open-market buy of 15,745 Class A shares

Indirect holdings after trades 621,518 shares Class A Common Stock held indirectly following purchases

Direct holdings after trades 10,117 shares Class A Common Stock held directly by Michael Doak

Restricted stock units 4,000 RSUs RSUs vest in full one year after grant date

Griffin Highline-held shares 619,196 shares Class A shares held by Griffin Highline Capital LLC

Dallas Specialty-held shares 2,322 shares Class A shares held by Dallas Specialty Insurance Company

Key Terms

restricted stock units ("RSUs"), vest in full, sole 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")"

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"

sole 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"

pecuniary interests financial

"except to the extent of his pecuniary interests therein"

Form 4 Insider Transactions: What Each Field Means →

05/22/2026 - 06:06 PM

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)
05/20/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock								10,117⁽¹⁾	D
Class A Common Stock	05/20/2026		P		15,745	A	$18.79	603,980⁽²⁾	I	See Footnote 2
Class A Common Stock	05/21/2026		P		17,538	A	$18.52	621,518⁽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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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 services as a director through the vesting date.

2. 619,196 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. 2,322 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	05/22/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

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

TWFG reported that entities associated with director Michael Doak bought 33,283 Class A Common shares in open-market transactions. These trades occurred at prices near $18.52–$18.79 per share, increasing his indirect holdings while leaving his direct position and RSUs unchanged.

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

After the reported trades, entities linked to Michael Doak held 621,518 TWFG Class A shares indirectly. He also held 10,117 shares directly, which include 4,000 restricted stock units scheduled to vest after one year of continued board service.

Who actually holds the TWFG (TWFG) shares bought in the Form 4 filing?

Most of the TWFG shares are held by Griffin Highline Capital LLC and Dallas Specialty Insurance Company. Michael Doak leads Griffin Highline and has voting and dispositive power over those shares, while disclaiming beneficial ownership beyond his pecuniary interest in the entities.

What restricted stock units (RSUs) does Michael Doak have from TWFG (TWFG)?

Michael Doak’s direct holdings include 4,000 TWFG restricted stock units. These RSUs were granted for his board service and vest in full on the first anniversary of the grant date, provided he continues serving as a director through that vesting date.