Sandip A. Kapadia - Jan 12, 2023 Form 4 Insider Report for Skyward Specialty Insurance Group, Inc. (SKWD)

Role
EVP, CHIEF ACTUARY
Signature
/s/ Stacy E. Skelton, Attorney-in-Fact
Stock symbol
SKWD
Transactions as of
Jan 12, 2023
Transactions value $
$0
Form type
4
Date filed
1/17/2023, 03:23 PM
Next filing
Mar 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding SKWD Common Stock 10.2K Jan 12, 2023 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 SKWD 2023 RSU Grant (3-Year) Award $0 +10K $0.00 10K Jan 12, 2023 Common Stock 10K Direct F2, F3
transaction SKWD 2023 RSU Grant (4-Year) Award $0 +10K $0.00 10K Jan 12, 2023 Common Stock 10K Direct F2, F4
transaction SKWD 2023 Stock Options (Right to Buy) Award $0 +40K $0.00 40K Jan 12, 2023 Common Stock 40K $15.00 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person was granted 3,858 shares of Restricted Stock on December 31, 2020, as a match to shares purchased under the 2016 Employee Incentive Program. The first tranche vested on April 16, 2021. The second tranche vested on April 16, 2022. The third and final tranche of 1,286 shares immediately vested upon the consummation of the Company's IPO. Also includes a Restricted Stock Award in the amount of 2,532 shares granted on January 1, 2022. Each share is equivalent to one share of the Company's common stock. This award fully vests on January 1, 2025.
F2 Upon vesting, each Restricted Stock Unit ("RSU") settles for one share of Common Stock.
F3 Subject to the reporting person's continuous service through the vesting date, 50% of the RSUs shall vest on January 12, 2025, and the remaining 50% will vest on January 12, 2026.
F4 Subject to the reporting person's continuous service through the vesting date, 50% of the RSUs will vest on January 12, 2026, and the remaining 50% will vest on January 12, 2027.
F5 Subject to the reporting person's continuous service through the vesting date, 50% of the options will vest on January 12, 2026, and the remaining 50% will vest on January 12, 2027.