Form 4: Old Republic International Corp: Officer Thomas Dare Reports Stock Transactions
SEC Form 4 Filing
Thomas Dare, a Senior Vice President, Secretary, and General Counsel at Old Republic International Corp, reported the acquisition and disposal of common stock and derivative securities, including stock options and restricted stock units, on March 11, 2025.
Summary
- On March 11, 2025, Thomas Dare, a SrVP, Secretary, and General Counsel of Old Republic International Corp (ORI), reported transactions involving ORI's common stock and derivative securities.
- Dare acquired shares through the exercise of stock options at prices ranging from $16.17 to $22.49, totaling 106,375 shares.
- He also disposed of 27,457 shares of common stock at weighted average prices of $36.48 and $36.52.
- Following these transactions, Dare directly owns 46,556 shares of common stock and indirectly owns 5,538 shares through ORI's 401K.
- Dare also holds derivative securities, including 43,086 shares from a 2025 Employee Stock Option and 8,263 shares from a 2025 Restricted Stock Unit.
- The 2025 Employee Stock Option vests in three equal annual installments beginning March 11, 2026.
- The 2025 Restricted Stock Unit award vests in three equal annual installments beginning March 11, 2026.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. The sentiment is neutral as it simply reports facts without expressing any opinion or forward-looking statements.
Positives
- The exercise of stock options indicates Dare's confidence in the company's future performance.
Negatives
- The sale of shares could be interpreted as a lack of confidence, although it could also be for personal financial planning.
Risks
- Significant stock sales by insiders could negatively impact investor sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. Investors often monitor these filings to gauge executive sentiment and potential future stock performance.
Stakeholder Impact
- The transactions may influence shareholder perception of the company's stock.
Key Dates
| Date | Description |
|---|---|
| 12/31/2019 | Date from which 2019 Employee Stock Option became exercisable. |
| 12/31/2020 | Date from which 2020 Employee Stock Option became exercisable. |
| 12/31/2021 | Date from which 2021 Employee Stock Option became exercisable. |
| 03/10/2023 | Date from which 2022 Employee Stock Option became exercisable. |
| 03/11/2025 | Date of the reported transactions. |
| 03/13/2025 | Date of signature by Power of Attorney. |
| 03/11/2026 | First vesting date for the 2025 Employee Stock Option and Restricted Stock Unit. |
| 03/19/2029 | Expiration date of the 2019 Employee Stock Option. |
| 03/17/2030 | Expiration date of the 2020 Employee Stock Option. |
| 03/09/2031 | Expiration date of the 2021 Employee Stock Option. |
| 03/09/2032 | Expiration date of the 2022 Employee Stock Option. |
| 03/11/2035 | Expiration date of the 2025 Employee Stock Option. |
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