DGICB Insider Filing: CFO Disposes 24,715 Class A Shares via 401(k)

Rhea-AI Filing Summary

Jeffrey D. Miller, EVP & Chief Financial Officer of Donegal Group Inc (symbol: DGICB), reported insider transactions dated 08/15/2025. The filing shows an acquisition of 416 shares of Class A common stock at a reported price of $17.74. Following the reported transactions, Mr. Miller beneficially owned 40,516 shares of Class A common stock (indirect) and 478 shares of Class B common stock (indirect). The filing also reports dispositions through a 401(k) plan: 24,715 shares of Class A and 106 shares of Class B. The form is signed by Mr. Miller on 08/25/2025 and notes the acquisition relates to the company’s Dividend Reinvestment Plan.

Positive

• Acquisition disclosed of 416 Class A shares at a specific price ($17.74), providing clear transparency
• Form properly signed by the reporting person and identifies role (EVP & Chief Financial Officer)

Negative

• Large dispositions via 401(k) plan reported (24,715 Class A and 106 Class B) which reduce direct/indirect holdings
• Filing lacks contextual metrics such as percentage of outstanding shares or rationale beyond 'Dividend Reinvestment Plan'

Insights

Financial Analyst

TL;DR: Insider modestly acquired 416 Class A shares at $17.74 while larger dispositions occurred via a 401(k) plan.

The filing documents a small open-market or plan acquisition of 416 Class A shares at $17.74 on 08/15/2025 and larger dispositions through a 401(k) plan: 24,715 Class A and 106 Class B shares. Post-transaction beneficial ownership is stated as 40,516 Class A (indirect) and 478 Class B (indirect). These changes are explicit in the Form 4; the filing does not provide broader context such as proportion of outstanding shares or reasons beyond the declared Dividend Reinvestment Plan.

Corporate Governance Expert

TL;DR: Disclosure appears complete for Section 16 reporting; transactions include plan-related disposals and a DRIP acquisition.

The Form 4 is signed and lists Mr. Miller’s role as EVP & Chief Financial Officer. It explicitly identifies a Dividend Reinvestment Plan in the explanations and shows both acquisitions and dispositions reported on 08/15/2025. The reporting format indicates individual filing by one reporting person. No amendments or additional arrangements are stated.

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^*

MILLER JEFFREY DEAN

(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)
	EVP & Chief Financial 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	416	A	$17.74	40,516	I	401(k) Plan
Class A Common Stock								24,715	D
Class B Common Stock								478	I	401(k) Plan
Class B Common Stock								106	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, EVP & Chief Financial Officer	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 insider transactions did Donegal Group Inc (DGICB) report on 08/15/2025?

The Form 4 reports an acquisition of 416 Class A shares at $17.74 and dispositions via a 401(k) plan of 24,715 Class A and 106 Class B shares, all dated 08/15/2025.

How many shares does Jeffrey D. Miller beneficially own after the reported transactions?

The filing shows Mr. Miller beneficially owned 40,516 Class A (indirect) and 478 Class B (indirect) shares following the reported transactions.

What price was paid for the acquired shares in the Form 4 for DGICB?

The reported acquisition price for the 416 Class A shares is $17.74 per share.

What is the stated reason or plan for the acquisition in the filing?

The filing’s explanation identifies the Dividend Reinvestment Plan as related to the reported acquisition.

Who signed the Form 4 for Donegal Group Inc (DGICB)?

The Form 4 is signed by Jeffrey D. Miller, EVP & Chief Financial Officer on 08/25/2025.