Donegal Mutual Reports 20,000-Share Purchase in DGICA Form 4

Rhea-AI Filing Summary

Donegal Mutual Insurance Co reported an insider purchase on Form 4 for Donegal Group Inc (DGICA). On 09/12/2025 the reporting person acquired 20,000 shares of Class A common stock at a price of $19.5327 per share. After the transaction the filer reports beneficial ownership of 13,654,579 Class A shares and 4,708,570 Class B shares, with ownership listed as direct. The filing was signed by Jeffrey D. Miller, EVP & Chief Financial Officer, on 09/15/2025. The filer is identified as a Director and the form indicates a 10% owner relationship.

Positive

• Insider purchase disclosed: 20,000 Class A shares acquired at $19.5327, showing compliance with Section 16 reporting
• Large reported holdings: Post-transaction ownership of 13,654,579 Class A shares and 4,708,570 Class B shares

Negative

• None.

Insights

Securities Analyst

TL;DR: A modest insider purchase of 20,000 Class A shares at $19.5327, but relative to >13M shares held this is immaterial.

The reported acquisition increases the reporting person’s stake by 20,000 shares. Given the reported post-transaction holdings of 13,654,579 Class A shares and 4,708,570 Class B shares, the incremental purchase represents a small percentage change in ownership and is unlikely to be material to valuation or control. The transaction is routine and disclosed timely on Form 4.

Corporate Governance Expert

TL;DR: Timely disclosure of an insider purchase; ownership levels remain large but the transaction size is minor.

The Form 4 shows proper Section 16 reporting for an insider identified as a director and indicated as a 10% owner. The signature by the CFO on 09/15/2025 evidences completion of the filing process. No change in control or significant governance implications arise from this small acquisition.

Insider Trade Summary

Net Buyer: 20,000 shares ($390,654)

Net Buy 2 txns

Insider DONEGAL MUTUAL INSURANCE CO

Role 10% Owner

Bought 20,000 shs ($391K)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock	20,000	$19.5327	$391K
holding	Class B Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 13,654,579 shares (Direct); Class B Common Stock — 4,708,570 shares (Direct)

Footnotes (1)

Form 4 Insider Transactions: What Each Field Means →

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).

1. Name and Address of Reporting Person^*

DONEGAL MUTUAL INSURANCE CO

(Last) (First) (Middle)

1195 RIVER ROAD

P.O. BOX 302

(Street)

MARIETTA PA 17547

(City) (State) (Zip)

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

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

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/12/2025		P		20,000	A	$19.5327	13,654,579	D
Class B Common Stock								4,708,570	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

	Jeffrey D. Miller, EVP & Chief Financial Officer	09/15/2025
	** 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.

FAQ

What insider transaction did Donegal Mutual Insurance Co report for DGICA?

They acquired 20,000 Class A shares of Donegal Group Inc on 09/12/2025 at a price of $19.5327 per share.

How many shares does the reporting person own after the transaction?

13,654,579 Class A shares and 4,708,570 Class B shares are reported as beneficially owned following the transaction.

When was the Form 4 signed and by whom?

Jeffrey D. Miller, EVP & Chief Financial Officer signed the Form 4 on 09/15/2025.

What is the reported relationship of the reporting person to the issuer?

The form identifies the reporting person as a Director and indicates a 10% owner relationship.

Does this Form 4 report any derivative transactions?

No derivative securities are reported in Table II of this filing.