Donegal Group SVP exercises 900 options at $14.43, sells shares

Rhea-AI Filing Summary

Donegal Group Inc. (DGICA) insider activity: the company’s SVP & General Counsel reported a same‑day option exercise and sale on 11/13/2025. The insider exercised options for 900 shares at $14.43, acquired 900 Class A shares, and then sold 900 shares at $19.736. Following these transactions, reported beneficial ownership of Class A common stock was 0 shares, and derivative securities were 0.

Insider Trade Summary

Exercise and Sale: 900 shares ($5K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider HECKER RICK JOSEPH

Role SVP & GENERAL COUNSEL

Sold 900 shs ($18K)

Approx. gross sale proceeds $18K

Approx. exercise cost $13K

Approx. pre-tax spread $5K

Type	Security	Shares	Price	Value
Exercise	Options	900	$14.43	$13K
Exercise	Class A Common Stock	900	$14.43	$13K
Sale	Class A Common Stock	900	$19.736	$18K

Holdings After Transaction: Options — 0 shares (Direct); Class A Common Stock — 0 shares (Direct)

FAQ

What insider transaction did DGICA report?

An officer exercised options for 900 shares at $14.43 and sold 900 shares at $19.736 on 11/13/2025.

Who was the reporting person in DGICA’s Form 4?

The reporting person was the company’s SVP & General Counsel.

How many DGICA shares were owned after the transactions?

Reported beneficial ownership of Class A common stock was 0 shares after the transactions.

What happened to the DGICA stock options reported?

Options with a $14.43 exercise price were exercised for 900 shares; derivative securities beneficially owned after were 0.

Were the sale and exercise on the same day for DGICA?

Yes. Both the option exercise and the sale occurred on 11/13/2025.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 11/14/2025 - 09:48 AM 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^*

HECKER RICK JOSEPH

(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 & GENERAL COUNSEL

3. Date of Earliest Transaction (Month/Day/Year)
11/13/2025

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	11/13/2025		M		900	A	$14.43	900	D
Class A Common Stock	11/13/2025		S		900	D	$19.736	0	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	$14.43	11/13/2025		M			900	07/01/2021	12/17/2025	Class A Common Stock	900	$14.43	0	D

Explanation of Responses:

Remarks:

	Jeffrey D. Miller, by power of attorney	11/14/2025
	** 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.