Form 4: Skyward CIO Dan Bodnar Reports Equity Transactions

Skyward Specialty Insurance Group's Chief Information Officer, Dan Bodnar, reported the acquisition of common stock from PSU settlement and new equity grants, alongside shares disposed for tax obligations.

Summary

• Dan Bodnar, Chief Information Officer of Skyward Specialty Insurance Group, Inc. (SKWD), reported several equity transactions.
• On February 25, 2026, Bodnar acquired 2,343 shares of common stock at a price of $0, resulting from the settlement of previously awarded Performance Share Units (PSUs).
• Following this acquisition, Bodnar's direct beneficial ownership of common stock increased to 27,341 shares.
• On February 26, 2026, Bodnar disposed of 876 shares of common stock at a price of $45.89 to cover tax withholding obligations related to the vesting and settlement of the PSUs.
• After the tax-related disposition, Bodnar's direct beneficial ownership of common stock was 26,465 shares.
• Bodnar was granted new derivative securities on February 25, 2026, including 1,261 Restricted Stock Units (RSUs) under the 2026 LTIP, which vest 100% on January 1, 2029.
• He also received 1,261 Performance Share Units (PSUs) under the 2026 LTIP, which can range from 0% to 200% vesting based on performance and fully vest on December 31, 2028.
• Additionally, Bodnar was granted 4,326 RSUs under the 2026 Bright Future program, with 50% vesting on January 1, 2029, and the remaining 50% on January 1, 2030.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, representing routine executive compensation activities and not indicating any significant positive or negative operational or financial developments for the company.

Positives

• Dan Bodnar acquired 2,343 shares of common stock through the settlement of Performance Share Units, increasing his direct ownership.
• New grants of 1,261 RSUs (2026 LTIP), 1,261 PSUs (2026 LTIP), and 4,326 RSUs (2026 Bright Future) demonstrate continued equity-based compensation and alignment with company performance.

Negatives

• 876 shares of common stock were disposed of to cover tax withholding obligations, reducing the net shares acquired from the PSU settlement.

Future Outlook

Future outlook includes the vesting of newly granted equity awards: 1,261 2026 LTIP RSUs vesting 100% on January 1, 2029; 1,261 2026 LTIP PSUs fully vesting on December 31, 2028, subject to performance; and 4,326 2026 Bright Future RSUs vesting 50% on January 1, 2029, and 50% on January 1, 2030.

Industry Context

StockSavvy.ai notes that these transactions are routine for executive compensation, reflecting the standard practice of granting equity awards and subsequent vesting and tax-related dispositions within the insurance industry. They do not indicate a shift in broader industry trends but rather the ongoing compensation structure for key personnel.

Related Party Transactions

• The transactions involve the company's Chief Information Officer receiving and disposing of company equity as part of his compensation package, which are standard related-party transactions in this context.

Stakeholder Impact

• Shareholders: Minor impact, as these are routine compensation-related transactions for an executive, not indicative of significant operational changes or market-moving events.
• Employees: Reflects the company's ongoing equity compensation programs for executives, which may set a precedent or expectation for other employees with similar plans.

Next Steps

• Continued service by the Reporting Person for future vesting of 2026 LTIP RSUs (January 1, 2029).
• Achievement of performance condition targets for 2026 LTIP PSUs (full vesting by December 31, 2028).
• Continued service by the Reporting Person for future vesting of 2026 Bright Future RSUs (January 1, 2029, and January 1, 2030).

Key Dates

Keywords

Skyward Specialty Insurance Group, SKWD, Dan Bodnar, Chief Information Officer, Form 4, Insider Trading, Equity Compensation, RSUs, PSUs, Stock Vesting, Share Acquisition, Tax Withholding