Donegal Group's Sanjay Pandey sells 1,070 shares

The option exercise and sale occurred on the same day, with 16,930 options reported after the exercise.

Available on EDGAR 11/09/2026 - 08:14 AM EST Accepted by SEC EDGAR 11/09/2026 - 08:14 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Donegal Group Inc. (DGICA) reports that its Sr. VP & Chief Info Officer, Sanjay Pandey, exercised options to acquire 1,070 Class A shares on November 5, 2026, at an exercise price of $14.09 per share. He sold 1,070 shares the same day at $19.5241 per share. His reported options following the exercise totaled 16,930. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Exercise and Sale: 1,070 shares ($6K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider PANDEY SANJAY

Role Sr. VP & Chief Info Officer

Sold 1,070 shs ($21K)

Approx. gross sale proceeds $21K

Approx. exercise cost $15K

Approx. pre-tax spread $6K

Type	Security	Shares	Price	Value
Exercise	Options	1,070	$14.09	$15K
Exercise	Class A Common Stock	1,070	$14.09	$15K
Sale	Class A Common Stock	1,070	$19.5241	$21K

Holdings After Transaction: Options — 16,930 options (Direct); Class A Common Stock — 8,697 shares (Direct)

Key Figures

Options exercised: 1,070 options Exercise price: $14.09 per share Class A shares sold: 1,070 shares +2 more

5 metrics

Options exercised 1,070 options November 5, 2026

Exercise price $14.09 per share Options exercised on November 5, 2026

Class A shares sold 1,070 shares November 5, 2026

Sale price $19.5241 per share Sale on November 5, 2026

Options following transaction 16,930 options Reported after the November 5, 2026 exercise

Key Terms

derivative security, exercise price, Class A Common Stock

3 terms

derivative security financial

"exercise or conversion of a derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

exercise price financial

"options exercised at an exercise price of $14.09"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

Class A Common Stock financial

"underlying security: 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Did Sanjay Pandey sell DGICA shares after exercising options?

Yes. Sanjay Pandey exercised options for 1,070 Class A shares on November 5, 2026, at $14.09 per share and sold 1,070 shares the same day at $19.5241 per share. His reported options following the exercise totaled 16,930. No Rule 10b5-1 plan is reported.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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)
11/05/2026

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	11/05/2026		M		1,070	A	$14.09	9,767	D
Class A Common Stock	11/05/2026		S		1,070	D	$19.5241	8,697	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
Options	$14.09	11/05/2026		M			1,070	07/01/2023	12/15/2027	Class A Common Stock	1,070	$14.09	16,930	D

Explanation of Responses:

Remarks:

	Jeffrey D. Miller, by power of attorney	11/09/2026
	** 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)