DGICA insider updates holdings in Form 4 filing

DONEGAL GROUP INC senior vice president and chief accounting officer David Benjamin Bawel reported updated holdings of the company’s Class A Common Stock.

Rhea-AI Filing Summary

DONEGAL GROUP INC senior vice president and chief accounting officer David Benjamin Bawel reported updated holdings of the company’s Class A Common Stock. The Form 4 shows one administrative holding entry and one "other" transaction coded J involving 59 shares at $17.27 per share in a 401(k) plan. Following these entries, he directly holds 21,816 Class A shares and has an additional 5,367 Class A shares held indirectly through the 401(k) account. The filing reflects routine ownership reporting rather than an open-market purchase or sale.

Insider Trade Summary

Other: 59 shares

Other 2 txns

Insider BAWEL DAVID BENJAMIN

Role SVP & CHIEF ACCOUNTING OFFICER

Type	Security	Shares	Price	Value
Other	Class A Common Stock	59	$17.27	$1K
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 5,367 shares (Indirect, 401(k) Plan); Class A Common Stock — 21,816 shares (Direct)

Key Figures

J-coded transaction shares: 59 shares J-coded transaction price: $17.27/share Direct holdings after transaction: 21,816 shares +1 more

4 metrics

J-coded transaction shares 59 shares Class A Common Stock, other acquisition or disposition

J-coded transaction price $17.27/share Class A Common Stock, indirect 401(k) holding

Direct holdings after transaction 21,816 shares Class A Common Stock held directly after Form 4 date

Indirect 401(k) holdings after transaction 5,367 shares Class A Common Stock held indirectly via 401(k) plan

Key Terms

Form 4, Class A Common Stock, 401(k) Plan, Other acquisition or disposition

4 terms

Form 4 regulatory

"David Benjamin Bawel reported updated holdings of the company’s Class A Common Stock on a 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

"The Form 4 shows one holding entry and one transaction involving 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

"The J-coded transaction involves 59 shares held indirectly through a 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.

Other acquisition or disposition financial

"The J transaction code indicates an "Other acquisition or disposition" of 59 shares."

FAQ

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

What insider activity did DGICA executive David Bawel report on this Form 4?

David Benjamin Bawel reported one administrative holding entry and one J-coded "other" transaction involving 59 shares of Class A Common Stock. The activity reflects routine ownership reporting rather than an open-market buy or sell of DONEGAL GROUP INC shares.

How many DONEGAL GROUP INC (DGICA) shares does David Bawel hold directly after this filing?

After the reported transactions, David Benjamin Bawel directly holds 21,816 shares of DONEGAL GROUP INC Class A Common Stock. This figure represents his direct ownership position as reported in the Form 4 for the stated transaction date.

What is the significance of the J code on David Bawel’s DGICA Form 4 transaction?

The J transaction code on David Bawel’s Form 4 indicates an "other acquisition or disposition" rather than a standard market trade. In this filing, it applies to 59 shares of Class A Common Stock held indirectly through a 401(k) plan, reflecting administrative ownership changes.

How many DGICA shares does David Bawel hold indirectly through his 401(k) plan?

Following the J-coded transaction, David Benjamin Bawel holds 5,367 shares of DONEGAL GROUP INC Class A Common Stock indirectly via a 401(k) plan. This indirect position is separate from his directly held shares disclosed in the same Form 4 filing.

Did David Bawel buy or sell DONEGAL GROUP INC shares on the open market in this Form 4?

The Form 4 does not show any open-market purchases or sales by David Benjamin Bawel. Instead, it reports one holding entry and one J-coded "other" transaction tied to his 401(k) plan, indicating administrative adjustments rather than discretionary trading activity.

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

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Accepted by SEC EDGAR 05/19/2026 - 02:16 PM EDT Learn about SEC filing dates

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^*

BAWEL DAVID BENJAMIN

(Last) (First) (Middle)

1195 RIVER ROAD

(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)
	SVP & CHIEF ACCOUNTING 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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	05/15/2026		J	V	59	A	$17.27	5,367	I	401(k) Plan
Class A Common Stock								21,816	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, 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)