Stephen Donaghy - 03 Jan 2023 Form 4 Insider Report for UNIVERSAL INSURANCE HOLDINGS, INC. (UVE)

Signature
/s/ Stephen Donaghy
Issuer symbol
UVE
Transactions as of
03 Jan 2023
Transactions value $
-$161,174
Form type
4
Filing time
05 Jan 2023, 18:24:54 UTC
Previous filing
14 Sep 2022
Next filing
17 Jan 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UVE Common Stock Options Exercise +16K +2.42% 677K 03 Jan 2023 Direct F1
transaction UVE Common Stock Tax liability -$64.6K -6.31K -0.93% $10.23 671K 03 Jan 2023 Direct F2
transaction UVE Common Stock Tax liability -$96.6K -9.44K -1.41% $10.23 661K 03 Jan 2023 Direct F3

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 UVE Performance Share Units Options Exercise -16K -100% 0 03 Jan 2023 Common Stock 16K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These performance share units ("PSUs") were granted on March 1, 2021, and were conditional upon the Issuer meeting certain growth performance goals for the 2020 calendar year. On February 23, 2021, the Compensation Committee of the Issuer's Board of Directors confirmed that the Issuer met the performance goals for the 2020 calendar year. Each PSU represents the right to receive one share of Common Stock upon vesting. The PSUs are scheduled to vest as follows, subject to continued employment by the reporting person through the applicable vesting date: (a) 17,000 PSUs vested on March 1, 2021, (b) 17,000 PSUs vested on March 1, 2022, and (c) 16,000 PSUs vested on January 3, 2023 (the first business day after December 31, 2022).
F2 These shares of Common Stock were withheld to satisfy the tax withholding obligation in connection with the settlement of vested PSUs into shares of Common Stock.
F3 These shares of Common Stock were withheld to satisfy the tax withholding obligation in connection with the vesting of 25,000 RSUs on January 3, 2023.