How significant is the 318-share transaction for DONEGAL GROUP INC (DGICA)?

The 318-share movement into a 401(k) plan is relatively small and classified as restructuring. It adjusts how Sanjay Pandey’s shares are held, with 28,829 now in the plan, and does not indicate a large directional bet on DONEGAL GROUP INC stock.

Donegal Group (DGICA) executive restructures 318 Class A shares into 401(k)

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

DONEGAL GROUP INC senior vice president and chief information officer Sanjay Pandey reported routine updates to his holdings of Class A Common Stock. An internal transaction moved 318 shares at $17.25 each into a 401(k) plan, bringing indirect holdings there to 28,829 shares, while direct ownership totals 8,292 shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider PANDEY SANJAY

Role Sr. VP & Chief Info Officer

Type	Security	Shares	Price	Value
Other	Class A Common Stock	318	$17.25	$5K
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 28,829 shares (Indirect, 401(k) Plan); Class A Common Stock — 8,292 shares (Direct, null)

Footnotes (1)

Key Figures

Restructured shares: 318 shares Transaction price: $17.25 per share Indirect holdings after: 28,829 shares +2 more

5 metrics

Restructured shares 318 shares Class A Common Stock moved into 401(k) plan

Transaction price $17.25 per share Price for 318 Class A Common Stock shares

Indirect holdings after 28,829 shares Class A Common Stock in 401(k) Plan after transaction

Direct holdings after 8,292 shares Directly held Class A Common Stock after holding entry

Restructuring shares total 318 shares Classified as restructuring in transactionSummary

Key Terms

Form 4, Class A Common Stock, 401(k) Plan, indirect ownership, +1 more

5 terms

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Class A Common Stock financial

"security_title": "Class A Common Stock""

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

401(k) Plan financial

"nature_of_ownership": "401(k) Plan""

A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.

indirect ownership financial

""direct_or_indirect": "I", "nature_of_ownership": "401(k) Plan""

transaction code J regulatory

""transaction_code": "J""

Form 4 Insider Transactions: What Each Field Means →

05/19/2026 - 02:22 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

PANDEY SANJAY

(Last)

(First)

(Middle)

1195 RIVER ROAD

P.O. BOX 302

(Street)

MARIETTA

PENNSYLVANIA

17547

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DONEGAL GROUP INC [ DGICA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Sr. VP & Chief Info Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	05/15/2026		J	V	318	A	$17.25	28,829	I	401(k) Plan
Class A Common Stock								8,292	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

Remarks:

	Jeffrey D. Miller, by power of attorney	05/19/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did DONEGAL GROUP INC (DGICA) report for Sanjay Pandey?

DONEGAL GROUP INC reported an internal reclassification of 318 Class A Common Stock shares for Sanjay Pandey. The shares moved into a 401(k) plan at $17.25 per share, with no open-market buying or selling disclosed.

How many DONEGAL GROUP INC (DGICA) shares does Sanjay Pandey hold directly and indirectly?

After the reported transactions, Sanjay Pandey holds 8,292 Class A Common Stock shares directly. He also has 28,829 shares held indirectly through a 401(k) plan, reflecting retirement-related ownership separate from his direct holdings.

Was the DONEGAL GROUP INC (DGICA) Form 4 a buy or sell by Sanjay Pandey?

The Form 4 does not show a traditional open-market buy or sell by Sanjay Pandey. It records an “other” transaction code J, describing an internal movement of 318 shares into a 401(k) plan at $17.25 per share.

What does transaction code J mean in the DONEGAL GROUP INC (DGICA) Form 4?

Transaction code J in this Form 4 is described as an “other acquisition or disposition.” Here it captures a restructuring-type move of 318 Class A Common Stock shares into a 401(k) plan, rather than a standard market trade.