[Form 4] Donegal Group Inc Insider Trading Activity

Rhea-AI Filing Summary

Donegal Group Inc. (DGICB) filed a Form 4 reporting that Senior Vice President Jeffery Tim Hay acquired 749 shares of Class A common stock on July 1, 2025.

The shares were obtained under an Employee Stock Purchase Plan (transaction code J, transaction marked as “V” to indicate a plan-related purchase) at an average price of $14.144 per share. Following the purchase, Hay’s direct beneficial ownership increased to 6,861 shares. No derivative securities were reported.

The transaction is routine, modest in size, and does not materially alter the company’s share structure or insider ownership profile.

Insights

Securities Analyst

TL;DR – Minor insider purchase; symbolic confidence signal, but quantitatively immaterial.

Insider activity: SVP Jeffery Tim Hay bought 749 Class A shares for roughly $10.6 k. Transaction arises from the Employee Stock Purchase Plan, indicating regular participation rather than opportunistic buying. Post-transaction ownership stands at 6,861 shares—still a small stake relative to Donegal’s float. While insider purchases typically suggest management confidence, the limited dollar value and routine nature dilute its market significance. No derivatives or additional trades were disclosed, and there is no implication for earnings, guidance, or capital structure. Overall impact on valuation and investor sentiment is neutral.

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
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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^*

HAY JEFFERY TIM

(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		10% Owner
X	Officer (give title below)		Other (specify below)
	Senior Vice President

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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(1)	07/01/2025		J	V	749	A	$14.144	6,861	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:

1. Employee Stock Purchase Plan

Remarks:

	Jeffrey D. Miller, by power of attorney	07/03/2025
	** 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

How many Donegal Group (DGICB) shares did SVP Jeffery Tim Hay purchase?

He acquired 749 Class A common shares on July 1, 2025.

What was the purchase price reported in the Form 4?

The shares were bought at an average price of $14.144 per share.

What is Jeffery Tim Hay’s total beneficial ownership after the transaction?

His direct beneficial ownership increased to 6,861 shares of Class A common stock.

Was this an open-market buy or plan-related purchase?

The Form 4 lists transaction code J with a "V" footnote, indicating an Employee Stock Purchase Plan acquisition.

Does this insider purchase materially affect Donegal Group’s share count?

No. The 749-share purchase is immaterial relative to the company’s outstanding shares.

Are any derivative securities involved in this filing?

No, Table II shows no derivative securities acquired or disposed.