Investors Title (ITIC) director awarded 750 Stock Appreciation Rights at $238.06

Rhea-AI Filing Summary

Hutson Richard M II reported acquisition or exercise transactions in this Form 4 filing.

Investors Title Co director Richard M. Hutson II received a grant of stock-based compensation. On May 20, 2026, he was awarded 750 Stock Appreciation Rights, each tied to one share of common stock with a base price of $238.06. These rights become exercisable on June 30, 2026 and expire on May 20, 2033. This is a compensation award, not an open-market stock purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Hutson Richard M II

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Appreciation Rights	750	$0.00	--

Holdings After Transaction: Stock Appreciation Rights — 0 shares (Direct, null)

Footnotes (1)

Key Figures

Stock Appreciation Rights granted: 750 rights Underlying common shares: 750 shares Base/exercise price: $238.06 per share +2 more

5 metrics

Stock Appreciation Rights granted 750 rights Grant on May 20, 2026

Underlying common shares 750 shares One share per Stock Appreciation Right

Base/exercise price $238.06 per share Conversion or exercise price for SARs

Exercise date June 30, 2026 SARs become exercisable

Expiration date May 20, 2033 SARs expire if unexercised

Key Terms

Stock Appreciation Rights, grant/award acquisition, conversion or exercise price, derivative

4 terms

Stock Appreciation Rights financial

"security_title: "Stock Appreciation Rights" and underlying common stock linkage"

Stock appreciation rights (SARs) are a form of employee compensation that give the holder the right to receive the increase in a company's stock price over a set baseline, paid in cash or shares, without having to buy the stock. For investors, SARs matter because they can create future cash outflows or share dilution and signal how a company rewards and motivates executives — similar to giving a bonus tied directly to how well the company’s stock performs.

grant/award acquisition financial

"transaction_action: "grant/award acquisition" for the derivative award"

conversion or exercise price financial

"conversion_or_exercise_price: "238.0600" for the rights"

derivative financial

"transaction_type: "derivative" describing the Stock Appreciation Rights"

A derivative is a financial contract whose value depends on the price or performance of another asset or measure — for example a stock, index, interest rate, commodity, or currency. Investors use derivatives like insurance or leveraged bets to hedge risk, speculate, or gain exposure without owning the underlying asset; they can protect portfolios but also amplify losses and introduce counterparty and market risk.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hutson Richard M II

(Last) (First) (Middle)

PO BOX 2687

(Street)

CHAPEL HILL NORTH CAROLINA 27515

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
INVESTORS TITLE CO [ ITIC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Appreciation Rights	$238.06	05/20/2026	05/20/2026	A		750		06/30/2026	05/20/2033	Common Stock	750	$0	0	D

Explanation of Responses:

Remarks:

	Timothy Rodgers by POA from Richard M. Hutson, II	05/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Investors Title Co (ITIC) director Richard M. Hutson II report on this Form 4?

He reported receiving a grant of 750 Stock Appreciation Rights as compensation. Each right is linked to one share of Investors Title Co common stock and is not an open-market stock purchase or sale.

How many Stock Appreciation Rights did the ITIC director receive in this transaction?

The director was granted 750 Stock Appreciation Rights in this Form 4 filing. Each right corresponds to one share of common stock, giving him potential value if the stock trades above the specified base price.

What is the base or exercise price of the Stock Appreciation Rights granted at Investors Title Co (ITIC)?

The Stock Appreciation Rights carry a base price of $238.06 per share. This price is used to calculate future appreciation value if the company’s common stock trades higher when the rights are exercised.

When can the Stock Appreciation Rights granted to the ITIC director be exercised?

The Stock Appreciation Rights become exercisable on June 30, 2026. After that date, the director can realize value from any increase in Investors Title Co’s stock price above the $238.06 base level.

When do the Stock Appreciation Rights granted by Investors Title Co (ITIC) expire?

The Stock Appreciation Rights expire on May 20, 2033. After this expiration date, any unexercised rights will no longer provide economic benefit to the director, even if the stock price has increased.

Is this ITIC Form 4 transaction a stock purchase or sale in the open market?

No, this filing reflects a compensation-related grant of Stock Appreciation Rights. It does not report the director buying or selling company shares in the open market, but rather receiving a derivative award.