Form 4: Old Republic International Corp: Officer Lange Exercises Stock Options and Disposes of Shares for Tax Obligations
SEC Form 4 Filing
Jeffrey Lange, SVPUnderwriting & Distribution at Old Republic International Corp, executed stock options and disposed of shares to cover tax liabilities on March 6, 2025.
Summary
- On March 6, 2025, Jeffrey Lange, SVPUnderwriting & Distribution at Old Republic International Corp, exercised 3,007 Restricted Stock Units, converting them into common stock.
- Lange also disposed of 938 shares of common stock at a price of $37.73 to cover tax liabilities associated with the vesting of previously granted Restricted Stock Units.
- Following these transactions, Lange directly owns 36,748 shares of common stock and indirectly owns 3,455 shares through ORI 401K.
- The direct holdings include 20,015 unvested Restricted Stock Awards.
- Lange also holds 6,025 derivative securities in the form of 2024 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports standard transactions related to executive compensation and tax obligations.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives regarding their holdings of company stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in compliance with SEC regulations.
- Executive compensation packages often include stock options and restricted stock units, aligning management's interests with those of shareholders.
- Tax-related disposals of shares are a common occurrence when stock options or restricted stock units vest.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/06/2024 | Reporting person was granted Restricted Stock Units that vest in three equal annual installments beginning March 6, 2025. |
| 03/06/2025 | Date of earliest transaction: Exercise of Restricted Stock Units and disposal of shares for tax liability. |
| 03/10/2025 | Date of signature for the report. |
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