[Form 4] Donegal Group Inc Insider Trading Activity

Rhea-AI Filing Summary

Donegal Group Inc insider reported changes in ownership on a Form 4 for reporting person SPONIC DAVID WAYNE. The filing shows transactions dated 08/15/2025 in Class A Common Stock. The report lists a purchase of 372 shares at a price of $17.75 and a separate disposition of 2,006 shares. The filing identifies 372 shares as held indirectly in a 401(k) Account. An explanatory note states the activity is related to the issuer's Dividend Reinvestment Plan. The Form 4 is signed by Jeffrey D. Miller, by power of attorney on 08/25/2025.

Positive

• Filed Form 4 promptly with transaction dates and an explanatory note referencing the Dividend Reinvestment Plan
• Purchase disclosed (372 shares at $17.75), indicating reinvestment of dividends rather than undisclosed off-market activity

Negative

• Disposition of 2,006 shares was reported without accompanying context on why the sale occurred
• Filing does not state aggregate post-transaction beneficial ownership totals beyond the line items, limiting transparency about remaining insider stake

Insights

Securities Analyst

TL;DR: Insider executed both a purchase and a sale in Donegal Group Class A shares; purchase via dividend reinvestment noted.

The reporting shows a purchase of 372 Class A shares at $17.75 and a disposition of 2,006 shares on 08/15/2025, with 372 shares noted as indirectly owned in a 401(k) account. The filing explicitly cites the Dividend Reinvestment Plan as the explanation, which aligns with routine reinvestment activity rather than an open-market strategic trade. The mix of acquisition and disposition in the same reporting period is material to short-term share movement analysis but the Form 4 does not provide context on the basis for the 2,006-share disposition or the total shares owned by the reporting person aside from the line items shown.

Corporate Governance Expert

TL;DR: Transactions appear procedural (dividend reinvestment) but include a sizeable sale; absence of ownership totals limits governance interpretation.

The disclosure identifies the reporting person as a Senior Vice President and shows a dividend reinvestment purchase of 372 shares recorded as indirect ownership in a 401(k) account. Simultaneously, a disposition of 2,006 shares is reported. From a governance and disclosure perspective this is a timely SEC Form 4 fulfilling Section 16 reporting requirements. However, the filing does not state aggregate post-transaction total beneficial ownership beyond the line items, which constrains assessment of insiders' remaining stake and potential alignment with shareholders.

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^*

SPONIC DAVID WAYNE

(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)
	Senior Vice President

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		P	V	4	A	$17.75	372	I	401(k) Account
Class A Common Stock								2,006	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 the Form 4 disclose for Donegal Group (DGICA)?

The Form 4 discloses a purchase of 372 Class A shares at $17.75 and a disposition of 2,006 Class A shares, both dated 08/15/2025.

Who is the reporting person on the Form 4 for Donegal Group?

The reporting person is listed as SPONIC DAVID WAYNE, identified as a Senior Vice President.

Was there an explanation for the reported transactions in the Form 4?

Yes. The filing includes an explanation stating the activity is related to the issuer's Dividend Reinvestment Plan.

How are the purchased shares held according to the filing?

The filing shows 372 shares held indirectly in a 401(k) Account following the reported transaction(s).

Who signed the Form 4 and when?

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