Form 4: Slide Insurance COO Reports RSU Vesting & Tax Withholding

Shannon Lucas, President & COO of Slide Insurance Holdings, Inc., reported the vesting of restricted stock units and subsequent share disposals to cover tax liabilities.

Summary

• On December 31, 2025, Shannon Lucas, President & COO, Director, and 10% Owner of Slide Insurance Holdings, Inc. (SLDE), reported transactions related to the settlement of restricted stock units (RSUs).
• RSUs that vested throughout 2025 were settled, resulting in the direct beneficial ownership of 275,018 common shares prior to tax withholdings.
• A total of 108,228 common shares were disposed of (withheld) to cover the reporting person's tax liability associated with these vested RSUs.
• These disposals occurred at various prices, including a $10.64 409(A) valuation for pre-IPO vesting and NYSE closing prices ranging from $13.38 to $21.66 for post-IPO vesting.
• Following these transactions, Shannon Lucas directly beneficially owns 166,790 common shares.
• Indirect beneficial ownership includes 1,096,180 shares by spouse, 1,650,000 shares by Securus Risk Management, LLC (controlled by reporting person), 1,925,000 shares through Emma Cloonen Irrevocable Trust, 1,925,000 shares through Ava Cloonen Irrevocable Trust, 2,575,837 shares through Bruce Lucas Irrevocable Grantor Retained Annuity Trust of 2014, and 39,875,000 shares through IIM Holdings II, LLC.
• The reporting person disclaims beneficial ownership of indirectly held securities except to the extent of pecuniary interest.
• Remaining RSUs will continue to vest in 24 equal monthly installments from January 1, 2025, to December 31, 2026, subject to continued employment.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of insider transactions related to RSU vesting and tax withholding, which is generally neutral in sentiment. It reflects standard compensation practices and tax obligations.

Positives

• Vesting of restricted stock units indicates continued employment and compensation for the President & COO.
• The acquisition of shares through RSU vesting at $0.00 effectively increases the insider's stake in the company, aligning interests with shareholders.

Negatives

• Disposal of 108,228 shares to cover tax liabilities reduces the direct beneficial ownership of the reporting person.

Future Outlook

Restricted stock units will continue to vest in 24 equal monthly installments until December 31, 2026, contingent on Shannon Lucas's continued employment or service.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions related to executive compensation and does not provide broader industry context or trends for the insurance sector.

Corporate Governance

Related Party Transactions

• Indirect beneficial ownership by spouse and entities controlled by the reporting person (Securus Risk Management, LLC) or where the spouse is a trustee (Emma Cloonen Irrevocable Trust, Ava Cloonen Irrevocable Trust, Bruce Lucas Irrevocable Grantor Retained Annuity Trust of 2014, IIM Holdings II, LLC) are disclosed. The reporting person disclaims beneficial ownership except for pecuniary interest.

Stakeholder Impact

• Shareholders: Provides transparency regarding insider holdings and compensation structure. The net effect of RSU vesting and tax withholding is a slight reduction in direct holdings but continued significant indirect holdings.
• Employees: Reflects standard executive compensation practices involving equity awards.

Next Steps

• Continued vesting of Shannon Lucas's restricted stock units in monthly installments until December 31, 2026.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions related to the vesting of restricted stock units and subsequent share disposals to cover tax liabilities. It does not provide new information regarding the company's operational performance, strategic direction, or financial health that would warrant a change in investment recommendation. The transactions are part of a pre-established compensation plan and tax obligations, indicating no significant shift in insider confidence or company fundamentals. Therefore, a 'hold' recommendation is appropriate, maintaining current positions based on existing company analysis.

Keywords

Slide Insurance Holdings, SLDE, Shannon Lucas, Form 4, Insider Trading, Restricted Stock Units, RSU Vesting, Tax Withholding, Beneficial Ownership, Director, Officer, 10% Owner