TRUPANION, INC. — Director's Dealing 2021

May 7, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TRUPANION, INC. (TRUP)
CIK: 0001371285
Period of Report: 2021-05-04

Reporting Person: Ferracone Robin A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-04	Common Stock	P	6000	$79.7935	Acquired	45056	Indirect
2021-05-04	Common Stock	P	6000	$80.9447	Acquired	51056	Indirect
2021-05-04	Common Stock	P	2000	$77.8276	Acquired	2000	Indirect
2021-05-04	Common Stock	P	2000	$78.0373	Acquired	4000	Indirect
2021-05-04	Common Stock	P	2000	$78.307	Acquired	6000	Indirect
2021-05-05	Common Stock	M	23360	$7.73	Acquired	32647	Direct
2021-05-05	Common Stock	M	23213	$8.57	Acquired	55860	Direct
2021-05-05	Common Stock	M	18608	$16.06	Acquired	74468	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-05	Stock Option (right to buy)	$7.73	M	23360	Disposed	2025-02-18	Common Stock (23360.0)	Direct
2021-05-05	Stock Option (right to buy)	$8.57	M	23213	Disposed	2026-02-05	Common Stock (23213.0)	Direct
2021-05-05	Stock Option (right to buy)	$16.06	M	18608	Disposed	2027-02-21	Common Stock (18608.0)	Direct

Footnotes

F1: The reported price in Column 4 is the weighted average price. These shares were purchased in multiple transactions at prices ranging from $79.76 to $80.17 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2: Shares held of record by Robin A. Ferracone TTEE and Stewart R. Smith TTEE of the Robin A. Ferracone Living Trust dtd 6/3/2002, of which the reporting person is a beneficiary.

F3: The reported price in Column 4 is the weighted average price. These shares were purchased in multiple transactions at prices ranging from $80.19 to $80.9877 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F4: The reported price in Column 4 is the weighted average price. These shares were purchased in multiple transactions at prices ranging from $77.73 to $77.8599 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F5: Shares held of record by S. Smith and R. Ferracone TTEE Stewart R. Smith Living Trust U/A dtd 12/13/1988, of which the reporting person's spouse is the sole beneficiary and both the reporting person and reporting person's spouse are co-trustees.

F6: The reported price in Column 4 is the weighted average price. These shares were purchased in multiple transactions at prices ranging from $78.294 to $78.3084 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F7: This stock option is fully vested.