Michael Doak - Mar 28, 2023 Form 4 Insider Report for TRUPANION, INC. (TRUP)

Role: Director
Signature: /s/ Charlotte Sim-Warner as attorney-in-fact for Michael Doak
Stock symbol: TRUP
Transactions as of: Mar 28, 2023
Transactions value $: -$86,433
Form type: 4
Date filed: 3/30/2023, 05:58 PM
Previous filing: Feb 28, 2023
Next filing: Apr 4, 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TRUP	Common Stock	Options Exercise	$23.6K	+2.75K	+163.5%	$8.57	4.43K	Mar 28, 2023	Direct	F1
transaction	TRUP	Common Stock	Sale	-$110K	-2.75K	-62.05%	$40.00	1.68K	Mar 28, 2023	Direct	F1

Showing 1 to 2 of 2 entries

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	TRUP	Stock Option (right to buy)	Options Exercise	$0	-2.75K	-16.63%	$0.00	13.8K	Mar 28, 2023	Common Stock	2.75K	$8.57	Direct	F1, F2

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

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id	Content
F1	The exercise and sale reported were effected pursuant to a Rule 10b5-1 trading plan adopted by reporting person on February 22, 2022, as amended on February 24, 2023, in order to implement a plan of financial diversification. Accordingly, the reporting person had no discretion with regard to the timing of the transaction.
F2	The option vested as to 25% of the total shares on each of March 31, 2016, June 30, 2016, September 30, 2016, and December 31, 2016, subject to the reporting person's provision of services to the issuer on each vesting date.