Patricia A. Ryan - Mar 9, 2022 Form 4 Insider Report for Trean Insurance Group, Inc. (TIG)

Role: General Counsel
Signature: /s/ Patricia A. Ryan
Stock symbol: TIG
Transactions as of: Mar 9, 2022
Transactions value $: $17,000
Form type: 4
Date filed: 3/11/2022, 05:10 PM
Previous filing: Nov 16, 2021
Next filing: Apr 24, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TIG	Common Stock	Award	$0	+4.22K	+168.96%	$0.00	6.72K	Mar 9, 2022	Direct	F1
transaction	TIG	Common Stock	Purchase	$17K	+5K	+74.36%	$3.40	11.7K	Mar 11, 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	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	F3
transaction	TIG	Market Stock Unit	Award	$0	+4.22K		$0.00	4.22K	Mar 9, 2022	Common Stock	4.22K		Direct	F4

* 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 price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.39 to $3.40, inclusive. The reporting person undertakes to provide to Trean Insurance Group, Inc., any security holder of Trean Insurance Group, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F3	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.
F4	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.