Scott T. McKinney - Oct 18, 2024 Form 4 Insider Report for TIPTREE INC. (TIPT)

Role
Chief Financial Officer
Signature
/s/ Neil C. Rifkind, Attorney-in-Fact for Scott T. McKinney
Stock symbol
TIPT
Transactions as of
Oct 18, 2024
Transactions value $
-$482,018
Form type
4
Date filed
10/21/2024, 04:04 PM
Previous filing
Jan 2, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TIPT Common Stock Options Exercise +50K +90.59% 105K Oct 18, 2024 Direct F1
transaction TIPT Common Stock Tax liability -$482K -23K -21.87% $20.95 82.2K Oct 18, 2024 Direct F2
holding TIPT Common Stock 168 Oct 18, 2024 By 401K

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 TIPT Performance Restricted Stock Units 2021 Options Exercise $0 -50K -14.29% $0.00 300K Oct 18, 2024 Common Stock 50K Direct F3
holding TIPT Performance Restricted Stock Units 2024 138K Oct 18, 2024 Common Stock 138K Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The acquisition of the common stock resulted from the vesting of an equal number of performance restricted stock units ("PRSUs") upon achieving the $20 Tiptree Inc. ("Tiptree") share price target milestone (adjusted for dividends paid).
F2 Shares withheld to satisfy the Reporting Person's withholding tax liability upon vesting of the 2021 PRSUs.
F3 These PRSUs were granted to the Reporting Person on October 14, 2022. The PRSUs will vest upon Tiptree achieving each of three Tiptree share price target milestones, based on the average of the thirty (30) trading day closing stock price, ranging from $30 to $60 (adjusted for dividends paid) prior to August 4, 2031, subject to the Reporting Person's continued employment with Tiptree. Each PRSU represents a contingent right to receive one share of Tiptree common stock. Any unvested PRSUs shall expire on August 4, 2031.
F4 These PRSUs were granted to the Reporting Person on January 1, 2024. Each PRSU represents a contingent right to receive one share of Tiptree common stock. The PRSUs will vest upon Tiptree achieving a share price target milestone based on the average of the thirty (30) trading day closing stock price of $70 (adjusted for dividends paid) prior to the 10th anniversary of the grant date, subject to the Reporting Person's continued employment with Tiptree. Any unvested PRSUs shall expire on January 1, 2034.