White Mountains (NYSE: WTM) director receives 135-share annual award

Rhea-AI Filing Summary

WHITE MOUNTAINS INSURANCE GROUP LTD director Philip A. Gelston received an annual director share award of 135 common shares on May 21, 2026. The shares were granted at a stated price of $0.00 per share as equity compensation, not a market purchase.

Following this award, Gelston directly holds 1,703 common shares. This Form 4 reflects a routine grant/award acquisition rather than an open‑market buy or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Gelston Philip A

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Shares	135	$0.00	--

Holdings After Transaction: Common Shares — 1,703 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Director share award: 135 common shares Grant price: $0.00 per share Shares held after grant: 1,703 common shares

3 metrics

Director share award 135 common shares Annual director share award on May 21, 2026

Grant price $0.00 per share Equity compensation, not open-market purchase

Shares held after grant 1,703 common shares Philip A. Gelston direct ownership following transaction

Key Terms

Form 4, transaction code "A", non-derivative, equity compensation, +1 more

5 terms

Form 4 regulatory

"This Form 4 reflects a routine grant/award acquisition rather than an open‑market buy or sale."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

transaction code "A" regulatory

"The Form 4 uses transaction code “A,” described as a grant, award, or other acquisition."

non-derivative financial

"In this case, it records an annual director share award of 135 common shares to Philip A. Gelston, categorized as a non-derivative, direct ownership transaction."

equity compensation financial

"This indicates equity compensation rather than an open-market purchase, aligning with the footnote describing it as an annual director share award."

Equity compensation is pay given to employees, executives or contractors in the form of company ownership—such as stock, stock options or restricted shares—rather than just cash. It matters to investors because it can align workers' incentives with shareholders (like paying someone in slices of the same pie they help grow), but it also increases the number of shares outstanding and company expenses, affecting ownership percentages and earnings per share.

Annual Director Share Award financial

"The footnote labels the 135-share transaction as an “Annual Director Share Award.”"

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^*

Gelston Philip A

(Last) (First) (Middle)

C/O WHITE MOUNTAINS INSURANCE GROUP, LTD

23 SOUTH MAIN STREET, SUITE 3B

(Street)

HANOVER NEW HAMPSHIRE 03755

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
WHITE MOUNTAINS INSURANCE GROUP LTD [ WTM ]

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)
05/21/2026

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
Common Shares	05/21/2026		A		135(1)	A	$0	1,703	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. Annual Director Share Award

	Wesley C. Bell, by Power of Attorney	05/21/2026
	** 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 transaction did White Mountains (WTM) report for Philip A. Gelston?

Philip A. Gelston received a grant of 135 common shares as an annual director share award. The Form 4 shows this as an equity compensation grant, not a market trade, and it increased his directly held position in White Mountains Insurance Group.

How many White Mountains (WTM) shares does Philip A. Gelston hold after this Form 4?

After the annual director share award, Philip A. Gelston directly holds 1,703 common shares. This total reflects the addition of 135 granted shares reported in the Form 4 and represents his visible direct ownership position following the transaction.

Was the White Mountains (WTM) director share award a market purchase?

No, the 135-share transaction was reported as a grant or award with a price of $0.00 per share. This indicates equity compensation rather than an open-market purchase, aligning with the footnote describing it as an annual director share award.

What does the transaction code on the White Mountains (WTM) Form 4 mean?

The Form 4 uses transaction code “A,” described as a grant, award, or other acquisition. In this case, it records an annual director share award of 135 common shares to Philip A. Gelston, categorized as a non-derivative, direct ownership transaction.

Is this White Mountains (WTM) insider transaction part of director compensation?

Yes. The footnote labels the 135-share transaction as an “Annual Director Share Award.” Combined with the $0.00 per-share price, this indicates routine equity compensation for board service rather than a discretionary market trade by the director.