UVE (NYSE: UVE) chair logs PSU vesting gain and tax share withholding
Rhea-AI Filing Summary
UNIVERSAL INSURANCE HOLDINGS, INC. Executive Chairman Sean P. Downes reported equity award activity in Common Stock. On February 24, 2026, he acquired 27,382 shares at $0.00 per share through the vesting of previously granted performance-based units for the 2023–2025 performance period, after the compensation committee certified that the maximum performance threshold was achieved.
On the same date, 6,863 shares at $30.23 per share were disposed of to cover tax withholding obligations related to this PSU settlement, rather than through an open-market sale. Following these transactions, he directly owned 1,219,031 shares of Common Stock. Indirect holdings reported as of that date included 2,000 shares held by his spouse and 48,000 shares held by his children.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 27,382 | $0.00 | -- |
| Tax Withholding | Common Stock | 6,863 | $30.23 | $207K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Represents shares of Common Stock issued pursuant to the performance-based units ("PSUs") previously granted on March 20, 2023 for performance over fiscal 2023 through 2025 performance period. These PSUs vested on February 24, 2026, following certification by the Issuer's compensation committee. The maximum performance threshold was achieved. As permitted by the terms of the awards, the compensation committee issued the target number of shares of Common Stock subject to the PSUs and a cash payment in respect of PSUs earned in excess of target in settlement of the award. These shares of Common Stock were withheld to satisfy the tax withholding obligation in connection with the settlement of vested PSUs into shares of Common Stock.
