11 unchanged sentences
Immediately prior to completing the IPO, all preferred stock converted into 16,305,113 shares of common stock.
−Removed: The issuance of such common shares was exempt from the registration requirements of the Securities Act, pursuant to Section 3(a)(9) of the Securities Act, involving an exchange of securities exchanged by the issuer with its existing security holders exclusively where no commission or other remuneration is paid or given directly or indirectly for soliciting such exchange.
+Added: The issuance of such common shares was exempt from the registration requirements of the Securities Act, pursuant to Section 3(a)(9) of the Securities Act, involving an exchange of securities exchanged by the issuer with its existing security holders exclusively where no commission or other remuneration was paid or given directly or indirectly for soliciting such exchange.
No underwriters were involved in this issuance of shares.
Grants of Stock Awards and Issuance of Shares
−Removed: During the period covered by this Annual Report on Form 10-K, pursuant to the Company’s 2020 Long-Term Incentive Plan, we granted 198,842 shares of restricted stock and restricted stock units at a weighted average price of $14.17 per share to certain employees and directors.
+Added: During the period covered by this Annual Report on Form 10-K, pursuant to the Company’s 2020 Long-Term Incentive Plan, we granted 1,101,856 shares of restricted stock restricted stock units at a weighted average price of $16.07 per share and 759,990 stock options with a strike price of $15.00 to certain employees and directors.
During the period covered by this Annual Report on Form 10-K, no shares of common stock were issued upon the exercise of stock options.
13 unchanged sentences
The net proceeds to the Company were approximately $62.3 million, after deducting underwriting discounts and specific incremental expenses directly attributable to the IPO.
−Removed: There has been no material change in the planned use of proceeds from our IPO as described in our prospectus dated January 12, 2023 and filed with the SEC on January 13, 2023 in connection with our IPO.
+Added: All the proceeds from the IPO have been distributed to the Company’s insurance company subsidiaries.
Issuer Purchases of Equity Securities
We did not purchase any of our equity securities during the period covered by this Annual Report on Form 10-K.
−Removed: Table of Conte nt s
We do not currently intend to pay any cash dividends on our common stock in the foreseeable future.
2 unchanged sentences
Investors seeking immediate cash dividends should not purchase our common stock.
+Added: Performance Graph
+Added: The following performance graph compares the cumulative total shareholder return of an investment in (1) our common stock, (2) the cumulative total returns to the Nasdaq Composite Index and (3) the cumulative total returns to the Nasdaq Insurance Index, for the period beginning January 13, 2023 (the date our common stock began trading on Nasdaq) through December 31, 2023.
+Added: The graph assumes an initial investment of $100.
+Added: Such returns are based on historical results and are not indicative of future performance.
+Added: This graph shall not be deemed “soliciting material” or be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any of our filings under the Securities Act.
+Added: January 13, 2023 December 31, 2023
+Added: Skyward Specialty Insurance Group, Inc.
+Added: $ 100.00 $ 177.38
+Added: Nasdaq Composite Index $ 100.00 $ 135.49
+Added: Nasdaq Insurance Index $ 100.00 $ 103.37
[Reserved] - Not applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.