Key Points

David B. Duclos completed an open-market buy of 2,500 shares totaling about $130,000 on May 28, 2026.
The buy lifted direct holdings by 34.34 percent, raising direct ownership to 9,780 shares after the deal.
All shares sit in direct ownership with no indirect stakes or derivatives noted after the trade.
The move fits a two-year pattern of net accumulation, leaving room for more buys based on recent trends.

On May 28, 2026, Director David B. Duclos reported an open-market purchase of 2,500 shares of RLI (NYSE:RLI), as shown in the SEC Form 4 filing.

Transaction summary

Metric	Value
Shares traded	2,500
Transaction value	$129,975.00
Post-transaction shares (direct)	9,780
Post-transaction value (direct ownership)	$504,000

Transaction value based on SEC Form 4 reported price ($51.99); post-transaction value based on May 28, 2026, market close.

Key questions

What proportion of David B. Duclos's direct holdings did this purchase represent?
This acquisition increased his direct ownership by 34.34 percent, moving from 7,280 to 9,780 shares.
How does this purchase compare to prior trading activity?
Over the past two years, all reported Form 4 filings for Duclos have reflected either administrative updates or net purchases, with this 2,500-share buy representing the largest single increase within the disclosed period.
Were any shares acquired or held indirectly or via derivatives in this transaction?
No indirect entities or derivative securities were involved; all 9,780 post-transaction shares are held directly.
What is the broader context for this transaction in terms of RLI's stock performance?
The purchase occurred following a one-year total return of (25.8 percent) for RLI as of May 28, 2026, and may reflect an opportunistic buy.

Company overview

Metric	Value
Revenue (TTM)	$1.90 billion
Net income (TTM)	$395.01 million
1-year price change	-30.38 percent

* 1-year price change calculated as of June 5, 2026.

Company snapshot

Offers a diversified portfolio of property and casualty insurance products, including commercial and personal coverage, general and professional liability, marine, surety bonds, and reinsurance.
Generates revenue primarily through underwriting insurance premiums.
Targets commercial businesses, professionals, contractors, transportation entities, and individuals seeking specialty insurance solutions in the United States and internationally.

RLI is a specialty insurer with a national footprint, focusing on niche property and casualty markets.

What this transaction means for investors

Insiders have many reasons to sell their stock, but they usually do not buy unless they expect the price to rise. A significant purchase on the open market suggests Duclos expects RLI stock to recover some of the ground it has been losing. Shares of the specialty insurer have fallen about 42 percent from the peak they set in 2024.

Duclos recent purchase of more RLI stock could also have been swayed by the company recent special dividend. Investors will receive $2 per share on June 12 for shares they were holding on May 29. It will be the second $2 special dividend they have received in less than 12 months.

In addition to the occasional special dividend, RLI distributes a regular, quarterly dividend. The company raised the quarterly payout by 12.5 percent to $0.18 per share and authorized a new $250 million share repurchase program.

RLI specialty insurance business is highly profitable. In the first quarter, the company reported just $86 dollars in losses and expenses for every $100 it collected in premiums.

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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.