Sean P. Downes - 01 Mar 2022 Form 4 Insider Report for UNIVERSAL INSURANCE HOLDINGS, INC. (UVE)

Role: Director
Signature: /s/ Sean Downes
Issuer symbol: UVE
Transactions as of: 01 Mar 2022
Net transactions value: -$48,075
Form type: 4
Filing time: 03 Mar 2022, 15:46:59 UTC
Previous filing: 11 Feb 2022
Next filing: 08 Apr 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UVE	Common Stock	Options Exercise		+16,000	+1.2%		1,384,631	01 Mar 2022	Direct	F1
transaction	UVE	Common Stock	Tax liability	$48,075	-4,109	-0.3%	$11.70	1,380,522	01 Mar 2022	Direct	F2
holding	UVE	Common Stock						18,000	01 Mar 2022	By Children
holding	UVE	Common Stock						2,000	01 Mar 2022	By Spouse

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		-16,000	-100%		0	01 Mar 2022	Common Stock	16,000		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 8, 2019, but were conditional upon the Issuer meeting certain growth performance goals for the 2019 calendar year. On January 13, 2020, the Chief Financial Officer certified that the Issuer met the performance goals for the 2019 calendar year, which the Compensation Committee of the Issuer's Board of Directors had confirmed. 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, 2020, (b) 17,000 PSUs vested on March 1, 2021, and (c) 16,000 PSUs vested on March 1, 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 8, 2019, but were conditional upon the Issuer meeting certain growth performance goals for the 2019 calendar year. On January 13, 2020, the Chief Financial Officer certified that the Issuer met the performance goals for the 2019 calendar year, which the Compensation Committee of the Issuer's Board of Directors had confirmed. 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, 2020, (b) 17,000 PSUs vested on March 1, 2021, and (c) 16,000 PSUs vested on March 1, 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.