Form 4: RenaissanceRe Holdings Executive Sells Shares to Cover Tax Obligations

David E. Marra, EVP and Chief Underwriting Officer of RenaissanceRe Holdings, disposed of shares to cover withholding taxes related to vesting restricted shares.

Summary

• On February 15, 2025, David E. Marra, EVP and Chief Underwriting Officer of RenaissanceRe Holdings Ltd, disposed of 781 shares of common stock at a price of $230.93.
• These shares were withheld for payment of withholding taxes upon the vesting of restricted shares granted on March 15, 2021.
• Additionally, 1,259 shares were disposed of at the same price, also for payment of withholding taxes related to restricted shares granted on March 14, 2022.
• Following these transactions, Marra directly owns 77,352 shares of RenaissanceRe Holdings Ltd.
• The transactions were reported on February 19, 2025.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing share disposals for tax purposes, which is a neutral event.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders, like officers and directors, trade their company's stock. These filings provide transparency into insider transactions and can be monitored by investors for insights into management's perspective on the company's value. The sale of shares to cover tax obligations upon vesting of restricted stock is a common practice.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units (RSUs) that vest over time.
• Upon vesting, these RSUs are treated as income, and executives are required to pay income taxes on the value of the shares.
• A common practice is for companies to withhold a portion of the shares to cover these tax obligations, as seen in this case with David E. Marra.
• This practice is similar to how companies like Apple, Microsoft, and Google handle RSU vesting for their executives.

Key Dates