UFCS UNITED FIRE GROUP INC

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 3/4 quarters. Q3 2022: $1M, Q2 2022: $1M, Q1 2022: $0M, Q3 2021: $0M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $1M vs trailing avg $0M (+198%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Buyback $2M / FCF $50M = 4% of FCF

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 481,488 shares = 1.9% of 25,522,051 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

1 open-market purchase by Martin Eric J

• Martin Eric J (Chief Financial Officer) bought 500 shares at $29.00 on 2025-08-11

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 3 quarters but insufficient insider buying

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $1M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 73.0x more than bought