SCHEDULE: IGI Holdings Executive Chairman Boosts Stake with New Restricted Shares

International General Insurance Holdings Ltd.'s Executive Chairman, Wasef Jabsheh, increased his beneficial ownership to 33.98% following a new restricted stock award of 47,500 shares.

Summary

• Wasef Jabsheh, Executive Chairman of International General Insurance Holdings Ltd., and W. Jabsheh Investment Co. Ltd. filed an Amendment No. 11 to their Schedule 13D.
• As of March 18, 2026, Mr. Jabsheh beneficially owned 14,556,131 Common Shares, representing approximately 33.98% of the Issuer's outstanding Common Shares.
• This ownership includes 14,315,581 shares with shared voting and dispositive rights, 132,678 shares with sole voting and dispositive rights, and 107,872 unvested Restricted Shares with shared voting rights but no disposition rights.
• W. Jabsheh Investment Co. Ltd. beneficially owned 14,315,581 Common Shares, representing approximately 33.41% of the outstanding shares, all controlled by Mr. Jabsheh.
• On February 23, 2026, Mr. Jabsheh was granted a new restricted stock award of 47,500 Common Shares as compensation for his services as Executive Chairman.
• These 2026 Restricted Shares will vest in three tranches: 15,833 shares on January 2, 2027, 15,833 shares on January 2, 2028, and 15,834 shares on January 2, 2029.
• The total outstanding Common Shares used for percentage calculation was 42,842,216 as of December 31, 2025.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this filing positively as it reflects increased insider ownership and a long-term incentive grant to the Executive Chairman, signaling confidence and aligning management's interests with shareholders.

Positives

• The grant of 47,500 restricted shares to the Executive Chairman aligns his interests with long-term shareholder value through a multi-year vesting schedule.
• Increased beneficial ownership by the Executive Chairman to 33.98% demonstrates strong insider confidence in the company's future.

Risks

• The Participant acknowledges the potential for being deemed an 'affiliate' under Rule 144 of the Securities Act, which would impose restrictions on the resale of shares, requiring a public trading market, adequate public information, and compliance with Rule 144 terms.
• The Company is under no obligation to register the Restricted Shares or file a re-offer prospectus, potentially limiting liquidity for the Participant if deemed an affiliate.

Future Outlook

The Executive Chairman's compensation structure includes future vesting of restricted shares, with tranches scheduled for January 2, 2027, January 2, 2028, and January 2, 2029, indicating a long-term incentive alignment.

Management Comments

• "The Company hereby grants to the Participant, as of the Grant Date specified above, the number of Restricted Shares specified above."
• "The Participant acknowledges that it is the Participant's sole responsibility, and not the Company's, to file timely and properly the election under Section 83(b) of the Code and any corresponding provisions of state tax laws if the Participant elects to make such election..."
• "Nothing in this Agreement shall interfere with or limit in any way the right of the Company, its Subsidiaries or Affiliates to terminate the Participant's employment or service at any time, for any reason and with or without Cause."

Industry Context

StockSavvy.ai notes that the grant of restricted stock awards to executive leadership is a common practice in the insurance and broader financial services industry, serving to align management incentives with long-term shareholder interests. The significant beneficial ownership by the Executive Chairman, Wasef Jabsheh, at nearly 34%, is a strong indicator of insider commitment, often viewed positively by investors seeking stability and dedicated leadership in the competitive insurance sector.

Comparison to Industry Standards

• StockSavvy.ai observes that executive compensation packages, particularly those involving restricted stock with multi-year vesting schedules, are standard across the global insurance industry.
• For instance, major insurers like Chubb Limited or AIG often utilize similar long-term incentive plans to retain key executives and link their performance to company growth.
• The vesting schedule for Mr. Jabsheh's 47,500 restricted shares over three years (2027-2029) is consistent with typical industry practices designed to encourage sustained performance and discourage short-term decision-making.
• While specific comparable grants would require detailed analysis of peer company proxy statements, the structure itself aligns with best practices for executive retention and alignment.

Corporate Governance

Related Party Transactions

• The grant of 47,500 restricted shares to Wasef Jabsheh, the Executive Chairman, constitutes a related party transaction as it is compensation provided by the Issuer to a key executive.

Stakeholder Impact

• Shareholders: Increased insider ownership and long-term incentive alignment for the Executive Chairman may be viewed positively, suggesting confidence in future performance.
• Management/Employees: The restricted stock award serves as a compensation and retention tool for the Executive Chairman, potentially motivating long-term commitment.

Next Steps

• Vesting of 15,833 restricted shares on January 2, 2027.
• Vesting of 15,833 restricted shares on January 2, 2028.
• Vesting of 15,834 restricted shares on January 2, 2029.
• The Company will deduct or withhold taxes upon vesting, potentially through a 'sell to cover' process.

Key Dates

Recommendation

The filing details a routine update to beneficial ownership and an executive compensation grant, which are generally expected corporate actions. While increased insider ownership can be a positive signal, this filing does not present new information that would fundamentally alter the investment thesis for International General Insurance Holdings Ltd. A 'hold' recommendation is appropriate as it maintains current positions based on existing company fundamentals, awaiting more substantial operational or strategic updates.

Keywords

International General Insurance Holdings, IGI Holdings, Wasef Jabsheh, Restricted Stock Award, Beneficial Ownership, Schedule 13D/A, Insider Ownership, Executive Compensation, Corporate Governance, Insurance, Financial Services, SEC Filing