Ledbetter Terry Lee 4

4 · Kestrel Group Ltd · Filed Mar 20, 2026

AI-generated summary of this filing

Updated Mar 20, 2026

Kestrel Group (KG) 10% Owner Terry Ledbetter Receives RSAs; Shares Withheld

What Happened

Terry Lee Ledbetter, a reported 10% owner of Kestrel Group Ltd (KG), received two Restricted Share Awards (RSAs) on 2026-03-18 totaling 145,788 shares (97,192 and 48,596) at $0.00 per share.
On the same date, 12,749 shares were disposed to the issuer at $9.96 per share, a withholding transaction with a reported value of $126,980 to satisfy tax obligations related to the vesting/settlement event. This disposition was not an open-market sale.

Key Details

Transaction date: 2026-03-18; Form 4 filed: 2026-03-20 (filed within the typical 2-business-day window).
Awards: 97,192 shares (F1) and 48,596 shares (F2) granted at $0.00.
Withholding/disposition: 12,749 shares withheld by issuer at $9.96/share; total ≈ $126,980 (F3).
Shares owned after the transaction: not reported in the provided filing excerpt.
Footnotes: F1/F2 describe RSA vesting schedules (installments over the next 1–3 years); F3 confirms withholding was for tax obligations (not an open-market sale); F4 notes some securities are held in a trust of which Ledbetter is co-trustee.

Context

These transactions are grant-related RSAs (acquisitions) with a tax-withholding disposition; awards represent restricted shares subject to vesting and possible forfeiture.
The withholding of shares to satisfy taxes is a common administrative step and does not necessarily indicate a voluntary sale or change in sentiment.
As a 10% owner, Ledbetter is a significant shareholder; this filing documents grant and tax-related withholding rather than an investment decision via open-market purchase/sale.

Form 4

Period: 2026-03-18

DirectorExecutive Chairman10% Owner

Transactions

Award
Common Shares
[F1]
2026-03-18+97,192→ 97,192 total
Award
Common Shares
[F2]
2026-03-18+48,596→ 145,788 total
Disposition to Issuer
Common Shares
[F3]
2026-03-18$9.96/sh−12,749$126,980→ 133,039 total

Holdings

Footnotes (4)

[F1]Represents shares issued pursuant to a Restricted Share Award ('RSA') that contains vesting and forfeiture restrictions. The shares vest in substantially equal installments with the first installment vested on the date of grant and the remaining installments vesting on the first two anniversaries of the date of grant.
[F2]Represents shares issued pursuant to an RSA that contains vesting and forfeiture restrictions. The shares will vest in substantially equal installments on the first three anniversaries of the date of grant.
[F3]Represents shares withheld by the Issuer to satisfy tax withholding obligations that arose in connection with a vesting and settlement event from a RSA. Not an open market sale of securities.
[F4]Represents securities held by Terry Lee Ledbetter and Reta Laurie Ledbetter 2000 Revocable Trust, of which the reporting person is a co-trustee.

Signature

/s/ Terry Lee Ledbetter|2026-03-20

1 file