How does the RSU grant affect Sarah E. Madsen’s total UFCS share holdings?

After receiving the 5,714-share RSU grant, Sarah E. Madsen holds 19,397 United Fire Group common shares directly. This total includes the newly awarded restricted stock units, which will vest in three equal annual installments from the grant date.

What was the implied grant-date value per share for the UFCS RSU award?

The implied grant-date value per share for the award was $38.53. This price is used to determine the value of the 5,714-share 2026 RSU LTIP grant made to Chief Legal Officer Sarah E. Madsen on February 20, 2026 as part of her compensation.

UFCS (UFCS) Chief Legal Officer receives 5,714-share RSU grant

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Madsen Sarah E reported acquisition or exercise transactions in this Form 4 filing.

United Fire Group Inc. reported that Chief Legal Officer Sarah E. Madsen received an equity award of 5,714 shares of common stock on February 20, 2026. The award is a 2026 RSU LTIP grant with a grant-date value based on a price of $38.53 per share. These restricted stock units vest in three equal installments on each annual anniversary of the grant date. Following this grant, Madsen directly holds a total of 19,397 shares of United Fire Group common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Madsen Sarah E

Role Chief Legal Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	5,714	$38.53	$220K

Holdings After Transaction: Common Stock — 19,397 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

02/24/2026 - 02:45 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^*

Madsen Sarah E

(Last)

(First)

(Middle)

118 2ND AVE SE

(Street)

CEDAR RAPIDS

52402

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
UNITED FIRE GROUP INC [ UFCS ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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)
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)
Common Stock	02/20/2026		A⁽¹⁾		5,714	A	$38.53	19,397	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)
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. 2026 RSU LTIP grant. Grant vests in three equal installments, each on the annual anniversary of the grant date.

Remarks:

	Sarah E. Madsen	02/24/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did UFCS report for Chief Legal Officer Sarah E. Madsen?

United Fire Group reported that Chief Legal Officer Sarah E. Madsen received a grant of 5,714 shares of common stock. The award was made on February 20, 2026 at a reference price of $38.53 per share as part of long-term incentives.

Was the UFCS insider transaction a stock purchase or an equity award?

The UFCS transaction was an equity award, not an open-market stock purchase. Sarah E. Madsen received a 2026 RSU LTIP grant of 5,714 common shares that vests over time, reflecting compensation rather than a discretionary share purchase in the market.

What are the vesting terms of the 2026 RSU LTIP grant at UFCS?

The 2026 RSU LTIP grant vests in three equal installments. Each installment vests on the annual anniversary of the February 20, 2026 grant date, meaning the award becomes fully vested over three years, aligning incentives with longer-term company performance.