DGICB Insider Activity: CEO Reports 12,040-Share Disposition and Dividend Reinvestment Buy

Rhea-AI Filing Summary

Kevin Gerard Burke, President & Chief Executive Officer and a director of Donegal Group Inc (symbol provided as DGICB), reported insider transactions dated 08/15/2025. The filing shows an acquisition of 33 shares of Class A common stock at a price of $17.75 under code J, with an explanatory note identifying a dividend reinvestment plan. The form also reports a disposition of 12,040 shares and indicates beneficial ownership of 3,213 shares held indirectly through a 401(k) plan following the reported transactions. The filing was signed by power of attorney on 08/25/2025.

Positive

• Disclosure compliance: Form 4 filed and signed by power of attorney on 08/25/2025, providing transparent reporting of insider activity
• Dividend reinvestment use: Acquisition of 33 shares via a dividend reinvestment plan shows participation in an automated equity reinvestment mechanism

Negative

• Large disposition: Reporting person disposed of 12,040 shares, which may be material depending on total outstanding shares and prior insider activity
• Limited context: Filing does not explain reason for the disposition (e.g., planned sale, tax, diversification), leaving interpretation unclear

Insights

Financial Analyst

TL;DR: Insider reported a small reinvestment purchase and a sizable disposition, leaving modest indirect holdings.

The filing shows a 33-share purchase at $17.75 via a dividend reinvestment plan and a reported 12,040-share disposition. Net beneficial ownership is recorded as 3,213 shares indirect via a 401(k) plan. For investors, the trade size relative to outstanding shares and timing versus company events would determine materiality; the document alone does not provide that context. The transaction is routine in form but the disposal magnitude warrants monitoring if similar patterns continue.

Corporate Governance Expert

TL;DR: CEO/director sale of 12,040 shares is governance-relevant; disclosure is complete but raises oversight questions.

The Form 4 discloses both acquisition via dividend reinvestment and a large disposition by the reporting person. The filing includes the required explanatory remark and a power-of-attorney signature, indicating procedural compliance. From a governance perspective, repeated large insider disposals or lack of explanatory context (e.g., planned sales, tax needs) can merit investor attention; this single filing does not prove misconduct but is a notable disclosure event.

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^*

BURKE KEVIN GERARD

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & Chief Exec Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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)	08/15/2025		J	V	33	A	$17.75	3,213	I	401(k) Plan
Class A Common Stock								12,040	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. Dividend Reinvestment Plan

Remarks:

	Jeffrey D. Miller, by power of attorney	08/25/2025
	** 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 transactions did Kevin G. Burke report for Donegal Group Inc (DGICB)?

The Form 4 reports an acquisition of 33 Class A shares at $17.75 via a dividend reinvestment plan and a disposition of 12,040 shares, with 3,213 shares held indirectly after the transactions.

When were the insider transactions for DGICB executed and filed?

The transactions are dated 08/15/2025 and the Form 4 bears a signature executed by power of attorney on 08/25/2025.

What is the nature of the reported indirect ownership?

The filing indicates indirect beneficial ownership of 3,213 shares through a 401(k) plan.

Does the Form 4 explain why the 12,040 shares were disposed?

No. The filing contains an explanatory note identifying a dividend reinvestment plan for the acquisition but does not provide a reason for the disposition of 12,040 shares.

Who signed the Form 4 for Kevin G. Burke?

The Form 4 was signed by Jeffrey D. Miller, by power of attorney on 08/25/2025.