UVE (UVE) Executive Chairman reports RSU vesting and tax share withholding
Rhea-AI Filing Summary
UNIVERSAL INSURANCE HOLDINGS, INC. Executive Chairman Sean P. Downes reported RSU vesting and related tax withholding. On March 19, 2026, 12,791 restricted stock units converted into an equal number of UVE common shares at no exercise price. To satisfy tax withholding on this vesting, 5,034 common shares were withheld at a value of $32.89 per share rather than sold in the open market, leaving a net 7,757 new shares from this award.
After these transactions, Downes directly holds 1,226,788 shares of common stock. He also has indirect holdings of 48,000 shares held by his children and 2,000 shares held by his spouse. The footnotes state that additional RSUs are scheduled to vest in equal tranches of 12,791 shares on March 19, 2027 and 12,790 shares on March 19, 2028, subject to continued employment.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 12,791 | $0.00 | -- |
| Exercise | Common Stock | 12,791 | $0.00 | -- |
| Tax Withholding | Common Stock | 5,034 | $32.89 | $166K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- These shares of Common Stock were withheld to satisfy the tax withholding obligation in connection with the vesting of RSUs on March 19, 2026. Each RSU represents the right to receive one share of the Issuer's Common Stock, subject to vesting. These RSUs are scheduled to vest as follows, subject to continued employment by the reporting person through the applicable vesting date: (a) 12,791 shares vested on March 19, 2026; (b) 12,791 shares vest on March 19, 2027; and (c) 12,790 shares vest on March 19, 2028.
