Donegal Group (DGICA) officer files Form 4 on option exercise and sale

Rhea-AI Filing Summary

Donegal Group Inc officer Jeffrey D. Miller, the SVP & Chief Accounting Officer, reported an insider transaction involving the company’s Class A common stock. On 12/11/2025, he exercised stock options to acquire 674 shares at $14.39 per share and on the same date sold 674 shares at $20.393 per share.

After these transactions, he directly owns 21,336 Class A shares and indirectly holds 5,257 shares through a 401(k) plan. He also continues to hold 8,326 stock options with a $14.39 exercise price that are exercisable through 12/16/2026.

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

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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 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		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & CHIEF ACCOUNTING OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
12/11/2025

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	12/11/2025		M		674	A	$14.39	22,010	D
Class A Common Stock	12/11/2025		S		674	D	$20.393	21,336	D
Class A Common Stock								5,257	I	401(k) Plan

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	$14.39	12/11/2025		M			674	07/01/2022	12/16/2026	Class A Common Stock	674	$14.39	8,326	D

Explanation of Responses:

Remarks:

	Jeffrey D. Miller, by power of attorney	12/15/2025
	** 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 Group Inc (DGICA) report in this Form 4?

The filing reports that SVP & Chief Accounting Officer Jeffrey D. Miller exercised options for 674 Class A shares at $14.39 each and sold 674 Class A shares at $20.393 on 12/11/2025.

Who is the reporting person in this Donegal Group Inc (DGICA) Form 4?

The reporting person is Jeffrey D. Miller, who serves as Senior Vice President & Chief Accounting Officer of Donegal Group Inc.

How many Donegal Group Inc (DGICA) Class A shares does the officer own after the transaction?

After the reported transactions, Jeffrey D. Miller directly owns 21,336 Class A shares and indirectly owns 5,257 Class A shares through a 401(k) Plan.

What prices were involved in the Donegal Group Inc (DGICA) insider’s transactions?

The options were exercised at an exercise price of $14.39 per share, and the 674 Class A shares sold were disposed of at a price of $20.393 per share.

What derivative securities does the Donegal Group Inc (DGICA) officer hold after this Form 4?

Following the transactions, Jeffrey D. Miller holds 8,326 stock options with an exercise price of $14.39, originally exercisable from 07/01/2022 and expiring on 12/16/2026.

Is this Donegal Group Inc (DGICA) Form 4 filed by one or multiple reporting persons?

The Form 4 indicates it is filed by one reporting person, not a group filing.