Stephen Donaghy - Mar 1, 2022 Form 4 Insider Report for UNIVERSAL INSURANCE HOLDINGS, INC. (UVE)

Role: CEO, Director
Signature: /s/ Stephen Donaghy
Stock symbol: UVE
Transactions as of: Mar 1, 2022
Transactions value $: -$55,762
Form type: 4
Date filed: 3/3/2022, 03:43 PM
Previous filing: Feb 28, 2022
Next filing: Mar 4, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UVE	Common Stock	Options Exercise		+17K	+2.66%		656K	Mar 1, 2022	Direct	F1
transaction	UVE	Common Stock	Tax liability	-$55.8K	-4.77K	-0.73%	$11.70	651K	Mar 1, 2022	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	UVE	Performance Share Units	Options Exercise		-17K	-51.52%		16K	Mar 1, 2022	Common Stock	17K		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These performance share units ("PSUs") were granted on March 1, 2021, and were conditional upon the Issuer meeting certain growth performance goals for the 2020 calendar year. On February 23, 2021, the Compensation Committee of the Issuer's Board of Directors confirmed that the Issuer met the performance goals for the 2020 calendar year. Each PSU represents the right to receive one share of Common Stock upon vesting. The PSUs are scheduled to vest as follows, subject to continued employment by the reporting person through the applicable vesting date: (a) 17,000 PSUs vested on March 1, 2021, (b) 17,000 PSUs vested on March 1, 2022, and (c) 16,000 PSUs vest on December 31, 2022.
F2	These shares of Common Stock were withheld to satisfy the tax withholding obligation in connection with the settlement of vested PSUs into shares of Common Stock.

Content

These performance share units ("PSUs") were granted on March 1, 2021, and were conditional upon the Issuer meeting certain growth performance goals for the 2020 calendar year. On February 23, 2021, the Compensation Committee of the Issuer's Board of Directors confirmed that the Issuer met the performance goals for the 2020 calendar year. Each PSU represents the right to receive one share of Common Stock upon vesting. The PSUs are scheduled to vest as follows, subject to continued employment by the reporting person through the applicable vesting date: (a) 17,000 PSUs vested on March 1, 2021, (b) 17,000 PSUs vested on March 1, 2022, and (c) 16,000 PSUs vest on December 31, 2022.

These shares of Common Stock were withheld to satisfy the tax withholding obligation in connection with the settlement of vested PSUs into shares of Common Stock.