Form 4: Universal Insurance Holdings Executive Chairman Sells Shares to Cover Vested Restricted Stock Units

Sean Downes, Executive Chairman of Universal Insurance Holdings, sold 9,128 shares of common stock on April 1, 2024, to cover vested restricted stock units settled in cash.

Summary

• On April 1, 2024, Sean Downes, the Executive Chairman of Universal Insurance Holdings, sold 9,128 shares of common stock at a price of $19.89 per share.
• The sale was executed to cover restricted stock units that vested on April 1, 2024, and were settled in cash, as determined by the Compensation Committee in accordance with Exchange Act Rule 16b-3(e).
• Following the transaction, Downes directly owns 1,182,262 shares of Universal Insurance Holdings common stock.
• Downes also indirectly owns 2,000 shares through his spouse and 18,000 shares through his children.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to an insider stock transaction. It doesn't inherently convey positive or negative sentiment.

Industry Context

This is a routine disclosure of an insider transaction related to equity compensation. It's common for executives to sell shares to cover taxes and other obligations when restricted stock units vest.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to have a significant impact given the relatively small number of shares sold compared to the total outstanding.

Key Dates