Matthew James Spencer - Mar 9, 2022 Form 4 Insider Report for Trean Insurance Group, Inc. (TIG)

Role
Chief Information and Security Officer
Signature
/s/ Patricia A. Ryan, attorney-in-fact
Stock symbol
TIG
Transactions as of
Mar 9, 2022
Transactions value $
$0
Form type
4
Date filed
3/11/2022, 05:10 PM
Previous filing
Jul 20, 2021
Next filing
Mar 17, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TIG Common Stock Award $0 +4.22K +36.7% $0.00 15.7K Mar 9, 2022 Direct F1

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 TIG Non-Qualified Stock Option (right to buy) Award $0 +4.22K $0.00 4.22K Mar 9, 2022 Common Stock 4.22K $6.95 Direct F2
transaction TIG Market Stock Unit Award $0 +4.22K $0.00 4.22K Mar 9, 2022 Common Stock 4.22K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares consist of restricted stock units granted pursuant to the issuer's 2020 Omnibus Incentive Plan (the "Plan") that vest in three equal annual installments over three years.
F2 The option was granted pursuant to the Plan and vests in three equal annual installments beginning on March 9, 2023 and remains exercisable after vesting until the earliest to occur of: (i) the 10th anniversary of the date of the grant, (ii) the 1st anniversary of the grantee's termination of employment by the issuer without Cause (as defined in the Plan) or the grantee's death or Disability (as defined in the Plan), (iii) 90 days following the grantee's voluntary termination, or (iv) the close of business on the last business day immediately prior to the date of the grantee's termination for Cause or breach of a restrictive covenant.
F3 Reflects an award of Market Stock Units ("MSUs") granted pursuant to the Plan. Each MSU represents a contingent right to receive one share of the issuer's common stock ("Common Stock"). The number of shares of Common Stock shown above represents the award at the target performance level. The actual number of shares of Common Stock that may be issued to the reporting person upon vesting of the MSUs ranges from a minimum of 0% to a maximum of 200% of the target performance level, depending on achievement of cumulative total shareholder return of the Common Stock over a performance period ending on December 31, 2024.

Remarks:

Chief Information and Security Officer