OCTAVE SPECIALTY GROUP INC
OSG · Surety Insurance · 45.0M shares · -0%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: -$8M (gross $5M, SBC $12M)
Reference price $7.59 · est. market cap ~$342M — last insider purchase, 2026-01-02 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
F39Restructuring specialty insurer with deeply negative margins, large losses and negative tangible equity.
Strengths
- Risk-based capital ratios above 700% at the insurance subsidiaries; revenue up sharply on acquisitions
- Reduced corporate run-rate costs and de-levered after selling AAC and repaying acquisition debt
Risks
- Net loss from continuing operations $95.8M (net margin -103%), total net loss $259M; ROE -36% and ROA -12% (12th pct)
- Negative tangible book value (-$300M) from accumulated losses, plus heavy intangible amortization, interest and restructuring drag
Notable findings
- Net lossNet loss (net margin -103.1%)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Net margin
-103.1%
Return on equity
-36.2%
Return on assets
-11.7%
Revenue growth (QoQ)
89.5%
Debt / equity
0.2×
Tangible book value
-$300M
Stock comp / revenue
3.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-03-10 | Ahn Cristina E. | Tax withheld | 203 | $4.90 |
| 2026-03-10 | Ahn Cristina E. | Option exercise | 835 | — |
| 2026-03-03 | Smith R Sharon | Tax withheld | 1.5K | $5.60 |
| 2026-03-03 | Trick David | Option exercise | 1.7K | — |
| 2026-03-03 | LeBlanc Claude | Tax withheld | 11K | $5.60 |
| 2026-03-03 | Trick David | Tax withheld | 1.7K | $5.60 |
| 2026-03-03 | Smith R Sharon | Option exercise | 1.5K | — |
| 2026-03-03 | LeBlanc Claude | Option exercise | 25K | — |
| 2026-01-02 | LeBlanc Claude | Buy | 12K | $7.59 |
| 2025-11-12 | Smith R Sharon | Buy | 20 | $10.25 |
| 2025-10-01 | LeBlanc Claude | Buy | 25K | $8.54 |
| 2025-09-30 | Smith R Sharon | Option exercise | 2.8K | — |
| 2025-09-30 | LeBlanc Claude | Option exercise | 193K | — |
| 2025-09-30 | LeBlanc Claude | Tax withheld | 111K | $8.34 |
| 2025-09-30 | Smith R Sharon | Option exercise | 3.2K | — |
| 2025-09-30 | Smith R Sharon | Tax withheld | 3.2K | $8.34 |
| 2025-09-30 | Trick David | Option exercise | 43K | — |
| 2025-09-30 | Trick David | Tax withheld | 16K | $8.34 |
| 2025-09-30 | Trick David | Option exercise | 43K | — |
| 2025-09-30 | Trick David | Tax withheld | 23K | $8.34 |
| 2025-09-30 | Smith R Sharon | Tax withheld | 2.8K | $8.34 |
| 2025-09-29 | Ksenak Stephen Michael | Tax withheld | 44K | $9.72 |
| 2025-09-29 | Smith R Sharon | Conversion | 145K | — |
| 2025-09-29 | Smith R Sharon | Tax withheld | 71K | $9.72 |
| 2025-09-29 | Trick David | Conversion | 165K | — |
| 2025-09-29 | Trick David | Tax withheld | 81K | $9.72 |
| 2025-09-29 | Smith R Sharon | Conversion | 145K | — |
| 2025-09-29 | Smith R Sharon | Tax withheld | 49K | $9.72 |
| 2025-09-29 | LeBlanc Claude | Conversion | 661K | — |
| 2025-09-29 | LeBlanc Claude | Tax withheld | 350K | $9.72 |
| 2025-09-29 | Ksenak Stephen Michael | Conversion | 129K | — |
| 2025-09-29 | McGinnis Daniel | Conversion | 30K | — |
| 2025-09-29 | McGinnis Daniel | Tax withheld | 10K | $9.72 |
| 2025-09-29 | Trick David | Conversion | 165K | — |
| 2025-09-29 | Trick David | Tax withheld | 56K | $9.72 |
| 2025-09-29 | LAMMTENNANT JOAN M | Conversion | 107K | — |
| 2025-09-29 | IGLESIAS LISA G | Conversion | 68K | — |
| 2025-09-29 | Matus Kristi Ann | Conversion | 39K | — |
| 2025-09-29 | PRICE MICHAEL D | Conversion | 39K | — |
| 2025-09-29 | HAFT IAN DAVID | Conversion | 132K | — |
| 2025-09-29 | Stein Jeffrey Scott | Conversion | 168K | — |
| 2025-08-11 | LeBlanc Claude | Buy | 25K | $7.03 |
| 2025-05-14 | Stein Jeffrey Scott | Buy | 10K | $6.45 |
| 2025-05-14 | Stein Jeffrey Scott | Buy | 5.0K | $6.48 |
| 2025-05-14 | PRICE MICHAEL D | Buy | 77K | $6.49 |
| 2025-05-14 | PRICE MICHAEL D | Buy | 63 | $6.54 |
| 2025-05-14 | LeBlanc Claude | Buy | 40K | $6.50 |
| 2025-03-13 | McGinnis Daniel | Option exercise | 94 | — |
| 2025-03-13 | Trick David | Option exercise | 267 | — |
| 2025-03-13 | Trick David | Tax withheld | 267 | $8.39 |
| 2025-03-13 | Smith R Sharon | Option exercise | 238 | — |
| 2025-03-13 | Smith R Sharon | Tax withheld | 238 | $8.39 |
| 2025-03-13 | McGinnis Daniel | Tax withheld | 94 | $8.39 |
| 2025-03-13 | LeBlanc Claude | Option exercise | 24K | — |
| 2025-03-13 | LeBlanc Claude | Tax withheld | 13K | $8.39 |
| 2025-03-13 | Ksenak Stephen Michael | Option exercise | 4.7K | — |
| 2025-03-13 | Ksenak Stephen Michael | Tax withheld | 1.7K | $8.39 |
| 2025-03-13 | Eisman Robert Bryan | Option exercise | 1.9K | — |
| 2025-03-13 | Eisman Robert Bryan | Tax withheld | 687 | $8.39 |
| 2025-03-13 | BARRANCO DAVID | Option exercise | 189 | — |
| 2025-03-13 | BARRANCO DAVID | Tax withheld | 189 | $8.39 |
| 2025-03-06 | LeBlanc Claude | Grant | 11K | — |
| 2025-03-06 | LeBlanc Claude | Tax withheld | 11K | $9.16 |
| 2025-03-06 | BARRANCO DAVID | Grant | 18K | — |
| 2025-03-06 | BARRANCO DAVID | Tax withheld | 7.4K | $9.16 |
| 2025-03-06 | McGinnis Daniel | Option exercise | 17K | — |
| 2025-03-06 | McGinnis Daniel | Tax withheld | 6.7K | $9.16 |
| 2025-03-06 | Eisman Robert Bryan | Option exercise | 1.3K | — |
| 2025-03-06 | Eisman Robert Bryan | Tax withheld | 1.3K | $9.16 |
| 2025-03-06 | Ksenak Stephen Michael | Option exercise | 2.0K | — |
| 2025-03-06 | Ksenak Stephen Michael | Tax withheld | 2.0K | $9.16 |
| 2025-03-06 | Trick David | Option exercise | 2.4K | — |
| 2025-03-06 | Trick David | Tax withheld | 2.4K | $9.16 |
| 2025-03-06 | Smith R Sharon | Option exercise | 2.2K | — |
| 2025-03-06 | Smith R Sharon | Tax withheld | 2.2K | $9.16 |
| 2025-03-03 | BARRANCO DAVID | Tax withheld | 2.1K | $9.30 |
| 2025-03-03 | Trick David | Option exercise | 201 | — |
| 2025-03-03 | Trick David | Tax withheld | 201 | $9.30 |
| 2025-03-03 | Smith R Sharon | Option exercise | 532 | — |
| 2025-03-03 | Smith R Sharon | Tax withheld | 532 | $9.30 |
| 2025-03-03 | McGinnis Daniel | Option exercise | 300 | — |
| 2025-03-03 | McGinnis Daniel | Tax withheld | 300 | $9.30 |
| 2025-03-03 | LeBlanc Claude | Option exercise | 888 | — |
| 2025-03-03 | LeBlanc Claude | Tax withheld | 888 | $9.30 |
| 2025-03-03 | Ksenak Stephen Michael | Option exercise | 400 | — |
| 2025-03-03 | Ksenak Stephen Michael | Tax withheld | 400 | $9.30 |
| 2025-03-03 | Eisman Robert Bryan | Option exercise | 212 | — |
| 2025-03-03 | Eisman Robert Bryan | Tax withheld | 212 | $9.30 |
| 2025-03-03 | BARRANCO DAVID | Option exercise | 5.2K | — |
| 2025-02-28 | Eisman Robert Bryan | Tax withheld | 233 | $9.71 |
| 2025-02-28 | Trick David | Tax withheld | 663 | $9.71 |
| 2025-02-28 | BARRANCO DAVID | Tax withheld | 2.4K | $9.71 |
| 2025-02-28 | Ksenak Stephen Michael | Option exercise | 582 | — |
| 2025-02-28 | Smith R Sharon | Option exercise | 641 | — |
| 2025-02-28 | Smith R Sharon | Tax withheld | 641 | $9.71 |
| 2025-02-28 | Ksenak Stephen Michael | Tax withheld | 582 | $9.71 |
| 2025-02-28 | Trick David | Option exercise | 663 | — |
| 2025-02-28 | McGinnis Daniel | Option exercise | 330 | — |
| 2025-02-28 | McGinnis Daniel | Tax withheld | 330 | $9.71 |
| 2025-02-28 | BARRANCO DAVID | Option exercise | 5.7K | — |
| 2025-02-28 | Eisman Robert Bryan | Option exercise | 233 | — |
| 2025-02-28 | LeBlanc Claude | Option exercise | 1.2K | — |
| 2025-02-28 | LeBlanc Claude | Tax withheld | 1.2K | $9.71 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-29 | 2026-05-28 | 0001628280-26-039234 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001628280-26-031377 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001628280-26-031393 ↗ |
| 8-K | 2026-04-07 | 2026-04-01 | 0001628280-26-024072 ↗ |
| 10-K | 2026-03-04 | 2025-12-31 | 0001628280-26-014653 ↗ |
| 8-K | 2026-02-23 | 2026-02-23 | 0001628280-26-010639 ↗ |
| 8-K | 2026-01-06 | 2026-01-06 | 0001628280-26-000870 ↗ |
| 8-K | 2025-12-15 | 2025-12-10 | 0001628280-25-057024 ↗ |
| 8-K | 2025-11-10 | 2025-11-10 | 0001628280-25-051048 ↗ |
| 10-Q | 2025-11-10 | 2025-09-30 | 0001628280-25-051136 ↗ |
| 8-K | 2025-11-10 | 2025-11-10 | 0001628280-25-051169 ↗ |
| 8-K | 2025-11-03 | 2025-10-31 | 0001628280-25-047943 ↗ |