Form 4: ProAssurance Executive VP Noreen Dishart Reports Stock Transactions
SEC Form 4 Filing
Noreen Dishart, Executive VP/Chief HR Officer of ProAssurance Corp, reports the vesting and acquisition of restricted stock units (RSUs) and subsequent tax withholding.
Summary
- On March 6, 2024, Noreen Dishart, Executive VP/Chief HR Officer of ProAssurance Corp, reported transactions related to restricted stock units (RSUs).
- A total of 6,147 shares of common stock were acquired through the vesting of RSUs at a price of $12.36 per share.
- 3,047 shares vested from RSUs that vest if the reporting person remains continuously employed until December 31, 2023.
- 3,100 shares vested from RSUs that vest pro rata in increments equal to one-third of the total award on February 23 in each of the years 2024, 2025 and 2026.
- 2,390 shares were disposed of to cover tax obligations related to the vesting of the RSUs.
- Following these transactions, Dishart directly owns 10,202 shares of ProAssurance common stock.
- She also holds 7,065 restricted stock units that vest if the reporting person remains continuously employed until December 31, 2024.
- She also holds 6,201 restricted share units that vest pro rata in increments equal to one-third of the total award on February 23 in each of the years 2024, 2025 and 2026.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it reflects routine executive compensation activity. The vesting of RSUs is a positive sign of continued employment, but the tax-related sale is a minor negative.
Positives
- The vesting of RSUs indicates that Dishart has met certain employment conditions, suggesting continued commitment to ProAssurance.
Negatives
- The disposal of shares to cover tax obligations reduces Dishart's overall holdings in the company.
Future Outlook
The reporting person holds additional RSUs that will vest in the future, subject to continued employment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, which are closely monitored by investors.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect changes in insider ownership.
Key Dates
| Date | Description |
|---|---|
| December 31, 2023 | Original vesting date for 3,047 Restricted Stock Units. |
| February 23, 2024 | First pro rata vesting date for 6,201 Restricted Share Units. |
| March 6, 2024 | Date of RSU vesting and stock transactions reported in Form 4. |
| February 23, 2025 | Second pro rata vesting date for 6,201 Restricted Share Units. |
| February 23, 2026 | Third pro rata vesting date for 6,201 Restricted Share Units. |
| December 31, 2024 | Vesting date for 7,065 Restricted Stock Units. |
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