TRUPANION, INC. — Director's Dealing 2020

Aug 28, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TRUPANION, INC. (TRUP)
CIK: 0001371285
Period of Report: 2020-08-25

Reporting Person: RAWLINGS DARRYL (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-08-25	Common Stock	M	1220	—	Acquired	461681	Direct
2020-08-25	Common Stock	F	297	$57.32	Disposed	461384	Direct
2020-08-25	Common Stock	M	1505	—	Acquired	462889	Direct
2020-08-25	Common Stock	F	366	$57.32	Disposed	462523	Direct
2020-08-25	Common Stock	S	4000	$64.2488	Disposed	926222	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-08-25	Restricted Stock Unit (RSU)	$	M	1220	Disposed	2022-02-25	Common Stock (1220.0)	Direct
2020-08-25	Restricted Stock Unit (RSU)	$	M	1505	Disposed	2023-02-25	Common Stock (1505.0)	Direct

Footnotes

F1: Restricted stock units convert into common stock on a one-for-one basis.

F2: This Form 4 discloses the shares of common stock that have been withheld by the issuer to satisfy its income tax withholding and remittance obligations in connection with the vesting of the restricted stock units, and does not represent a sale by the reporting person.

F3: The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by Kuyashii Primary Equities LLC. a limited liability company indirectly, wholly-owned by the reporting person and reportingperson's spouse, on November 12, 2019, in order to implement a plan of financial diversification. Accordingly, the reporting person had no discretion with regard to the timing of the transaction. In aggregate, thereporting person's plan is Rule 10b5-1 trading plan is part of a diversification strategy on the part of the reporting person to diversify up to 25% of the reporting person's holdings as of the date of the Company'sinitial public offering in July 2014 from the inception of the Rule 10b5-1 trading plan through 2025.

F4: The RSU vests and will convert to common stock of the Issuer as to 1/4th of the total shares on February 25, 2019, after which 1/16th of the total shares vest quarterly, subject to continued service through each vesting date.

F5: The RSU vests and will convert to common stock of the Issuer as to 1/4th of the total shares on February 25, 2020, after which 1/16th of the total shares vest quarterly, subject to continued service through each vesting date.