NP — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-07-27

• our business” in our Annual Report on Form 10-K. We mitigate this risk by diversifying the third-party agents and brokers that we use in our distribution model.

• Additionally, periodic lapses or uncertainties in the NFIP’s federal authorization could boost demand for private flood insurance. For example, for 43 days beginning on October 1, 2025, the U.S. federal government experienced a lapse

• in appropriations. During a shutdown, the NFIP is not authorized to issue new policies or renew existing policies until reauthorization by Congress, leaving the private flood insurance market as the sole source for new flood insurance policies. However, concurrently with the start of the shutdown, t…

• Regulatory changes at the federal and state levels, including those affecting floodplain mapping, risk assessment standards, and lender requirements, could also impact private insurers like Neptune. For example, changes to FEMA’s

• meet the underwriting criteria for Neptune. We collect the agent commission that is paid by the NFIP for any NFIP policies sold by our internal agency.

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• Additionally, periodic lapses or uncertainties in the NFIP’s federal authorization could boost demand for private flood insurance. For example, for 43 days beginning on October 1, 2025, the U.S. federal government experienced a lapse in appropriations. During a shutdown, the NFIP is not authorized t…

• that, during a period when the NFIP is unavailable, lenders may continue to make loans subject to the federal flood insurance statutes without requiring federal flood insurance, while continuing to meet other regulatory obligations. This pronouncement had the effect of mitigating any prospective inc…

• Regulatory changes at the federal and state levels, including those affecting floodplain mapping, risk assessment standards, and lender requirements, could also impact private insurers like Neptune. For example, changes to FEMA’s flood zone designations or its risk rating methodologies could affect …

• Revenues increased to $37.8 million for the three months ended March 31, 2026, from $29.4 million for the three months ended March 31, 2025, representing an increase of $8.4 million, or 28.8%. This increase was primarily driven by higher policy counts and premium volume, supported by policy renewals…

• Commission income was $29.0 million for the three months ended March 31, 2026, compared to $22.7 million for the three months ended March 31, 2025, an increase of 27.9%. The increase was primarily due to growth in written premium.

Text added vs the prior filing · source: 10-Q · 2026-07-27

• Except as set forth below, during the three and six months ended June 30, 2026, none of our directors or officers (as defined in Section 16 of the Exchange Act) adopted, modified, or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement” as such terms are defined u…

• The aggregate number of shares that will be available for sale under this 10b5-1 plan is not yet determinable because an unknown number of shares issuable upon settlement of such RSUs will be forfeited to the Company for

• purposes of satisfying the associated tax withholding obligation prior to any sale occurring under the terms of the plan. As such, for purposes of this disclosure, the number of shares referenced above reflects the aggregate maximum number of shares underlying Mr. Duffy’s RSUs without excluding the …

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• During the three months ended March 31, 2026, none of our directors or officers (as defined in Section 16 of the Exchange Act) adopted, modified, or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement” as such terms are defined under Item 408 of Regulation S-K.