Form 4: Universal Insurance Holdings Executive Chairman Sean Downes Reports Stock Transactions
SEC Form 4 Filing
Sean Downes, Executive Chairman of Universal Insurance Holdings, reports the vesting of restricted stock units and associated tax withholding.
Summary
- On March 27, 2025, Sean Downes, Executive Chairman of Universal Insurance Holdings, reported transactions involving the company's common stock and restricted stock units (RSUs).
- Downes acquired 8,342 shares of common stock upon the vesting of RSUs.
- 3,283 shares were withheld to cover tax obligations related to the RSU vesting at a price of $22.85 per share.
- Following these transactions, Downes directly owns 995,259 shares of common stock.
- Downes also indirectly owns 18,000 shares through children and 2,000 shares through a spouse.
- He also owns 16,683 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine disclosure of stock transactions by an executive, with no inherently positive or negative implications for the company's performance.
Future Outlook
The remaining RSUs are scheduled to vest in two tranches on March 27, 2026, and March 27, 2027, subject to continued employment.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track executive compensation and ownership changes.
Stakeholder Impact
- The disclosure provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 03/27/2025 | Date of earliest transaction: Vesting of RSUs and tax withholding. |
| 03/27/2025 | 14,598 shares vested on March 27, 2025. |
| 03/27/2026 | 14,598 shares vest on March 27, 2026. |
| 03/27/2027 | 14,598 shares vest on March 27, 2027. |
| 03/31/2025 | Date of signature. |
Keywords
Universal Insurance Holdings, Sean Downes, UVE, Form 4, Stock, RSU, Restricted Stock Units, Executive Chairman, Beneficial Ownership, Vesting
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.