Company: KNSL
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001669162-25-000021
Chunk: 56

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 56
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 that is intended to be and is designated an incentive stock option within the meaning of Section 422 of the Code (an “ISO”), and (ii) an option that is not designated as an ISO or that otherwise does not satisfy the requirements to be an ISO

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(“Nonqualified Stock Option”). Subject to the limits of the Plan, the Administrator may grant options for such number of shares and having such terms as the Administrator designates.

Options will vest and be exercisable in the timeframe determined by the Administrator, which will be set forth in the applicable option award agreement. No option will be exercisable after ten years from the date such option is granted.

The exercise price of shares under an option is determined by the Administrator but will not be less than the fair market value of a share of common stock on the date of grant.

Under the Plan, to the extent permitted under applicable law and the relevant option award agreement, the Administrator in its sole discretion may make available one or more of the following alternatives for the payment in whole or in part of the option exercise price (i) by means of consideration received under any cashless exercise procedure approved by the Administrator (including the withholding of shares otherwise issuable upon exercise), (ii) in the form of unrestricted shares already owned by the Participant which have a fair market value on the date of surrender equal to the aggregate exercise price of the shares as to which such option will be exercised, (iii) any other form of consideration approved by the Administrator and permitted by applicable laws or (iv) any combination of the foregoing. Options may be exercised in whole or in part by giving written notice under the Plan.

If an option is intended to qualify as and is designated as an ISO, and satisfies the requirements to be an ISO, then the fair market value, determined as of the date of grant, of ISOs that can first become exercisable in any calendar year will not exceed $100,000 without such excess amount ceasing to constitute an ISO. Any ISO granted to an owner of more than 10% of the total combined voting power of all classes of Company stock will have an exercise price that is not less than 110% of the fair market value of a share of the Company’s common stock on the grant date, and the term of the ISO will not exceed five years after the grant date.

#### Share Appreciation Rights (SARs)
The Plan authorizes awards of share appreciation rights (“SARs”) that are freestanding from an