Form 4: Universal Insurance Holdings Executive Chairman Sells 20,000 Shares

Sean P. Downes, Executive Chairman of Universal Insurance Holdings, sold 20,000 shares of common stock at an average price of $21.255 on August 29, 2024.

Summary

• On August 29, 2024, Sean P. Downes, the Executive Chairman of Universal Insurance Holdings, Inc. (UVE), sold 20,000 shares of the company's common stock.
• The shares were sold at a weighted average price of $21.255, with individual transaction prices ranging from $21.10 to $21.375.
• Following the transaction, Downes directly owns 1,102,262 shares of Universal Insurance Holdings.
• He also indirectly owns 18,000 shares through his children and 2,000 shares through his spouse.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a stock sale by an executive, which is a neutral event. The sale itself could be interpreted in various ways, but the filing itself is simply a reporting requirement.

Industry Context

Form 4 filings are a routine part of the US stock market and are required by the SEC to provide transparency into the transactions of company insiders.

Stakeholder Impact

• The sale of shares by a high-ranking executive could potentially influence investor sentiment, although the impact is likely to be minimal given the relatively small number of shares sold compared to the total outstanding.

Key Dates