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 $19.7217 on May 2, 2024.

Summary

• On May 2, 2024, Sean P. Downes, the Executive Chairman of Universal Insurance Holdings, sold 20,000 shares of the company's common stock.
• The sale was executed at a weighted average price of $19.7217 per share.
• The prices for individual transactions ranged from $19.60 to $20.14.
• Following the transaction, Downes directly owns 1,162,262 shares of Universal Insurance Holdings.
• He also indirectly owns 2,000 shares through his spouse and 18,000 shares through his children.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard disclosure of an insider transaction. The sale itself doesn't necessarily indicate a positive or negative outlook.

Industry Context

This is a routine disclosure of an insider transaction. It's common for executives to periodically sell shares for personal financial management.

Stakeholder Impact

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

Key Dates