Form 4: Old Republic SVP Sells Shares After Option Exercise

Sentiment:

Insider Transaction Report 4 February 2026 1:14 PM

📋All filings for Old Republic International CORP

Carolyn Monroe, SVP of Title Insurance at Old Republic International, exercised stock options and subsequently sold a portion of the acquired shares.

Summary

Carolyn Monroe, SVP Title Insurance at Old Republic International Corp (ORI), reported transactions on February 2, 2026.
Monroe exercised 16,500 employee stock options at an exercise price of $21.30 per share.
Concurrently, 10,974 shares were disposed of in a "net exercise" to cover the exercise price and tax withholdings at a price of $39.17 per share.
Additionally, Monroe sold 3,926 shares at $39.28 per share and another 1,600 shares at $39.29 per share.
Following these transactions, Monroe directly holds 27,875 shares of Common Stock, which includes 7,348 unvested Restricted Stock Awards.
Monroe also indirectly holds 1,452 shares through the ORI 401K plan.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. While the insider sold shares, it was in conjunction with an option exercise, a common practice for tax and liquidity management, rather than a pure open-market sale indicating a change in sentiment.

Positives

The exercise of 16,500 employee stock options indicates a realized gain for the insider, as the exercise price of $21.30 was significantly below the market price at the time of sale (around $39).

Negatives

The net disposition of shares (10,974 for tax/exercise + 3,926 sale + 1,600 sale = 16,500 total disposed from the exercised options) represents an insider selling shares, which can sometimes be interpreted as a lack of conviction, although often for personal liquidity or tax planning.

Future Outlook

Industry Context

StockSavvy.ai notes that insider transactions like these are common across industries, particularly for long-tenured executives exercising vested options. The specific details reflect individual financial planning rather than broad industry trends.

Stakeholder Impact

Shareholders might interpret the insider selling as a slight negative signal, though the context of option exercise and tax planning often mitigates such concerns.

Key Dates

Date	Description
12/03/2021	Date when the 2021 Employee Stock Option grant became exercisable, with a vesting schedule of 10% the first year, 15% the second year, 20% the third year, 25% the fourth year, and 30% the fifth year.
02/02/2026	Date of earliest transaction, involving the exercise of stock options and subsequent sales of common stock.
02/04/2026	Date the Form 4 was signed by Victoria Pool, Power of Attorney for Carolyn J. Monroe.
03/09/2031	Expiration date of the 2021 Employee Stock Option.

Recommendation

hold

The reported transactions are routine insider activity involving the exercise of stock options and subsequent sales, likely for tax obligations and personal liquidity. This type of transaction does not typically signal a strong change in the company's fundamental outlook or warrant a significant shift in investment strategy, thus a 'hold' recommendation is appropriate.

Keywords

Old Republic International, ORI, Insider Trading, Stock Options, Share Sale, Executive Compensation, Form 4, Carolyn Monroe

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