[Form 4] Donegal Group Inc Insider Trading Activity

Rhea-AI Filing Summary

Donegal Group Inc. (DGICB) Form 4 filing: On 01 Jul 2025, Executive Vice President & Chief Financial Officer Jeffrey D. Miller acquired 735 Class A common shares at $14.144 via the Employee Stock Purchase Plan (transaction code J).

After the purchase, Miller’s direct holdings rise to 24,715 Class A shares. He also indirectly holds 40,100 Class A and 478 Class B shares in the 401(k) Plan, plus 106 Class B shares directly. No derivative securities were reported.

The transaction is valued at roughly $10.4 k, indicating a routine, low-dollar insider purchase rather than a materially significant trade.

Insights

Securities Analyst

TL;DR: Small ESPP purchase by CFO; positive signal but immaterial to valuation.

Miller’s 735-share acquisition reinforces insider alignment, yet the $10 k size is negligible relative to Donegal’s market cap and trading volume. No options or complex derivatives were involved, limiting informational value. The purchase marginally improves float reduction and may signal confidence, but it does not alter earnings outlook or capital structure. I classify the filing as routine and neutral for investors.

Corporate Governance Specialist

TL;DR: Routine ESPP participation underscores governance compliance, impact neutral.

The filing shows standard participation in an established Employee Stock Purchase Plan (code J). Timely disclosure and modest purchase size suggest transparent governance without potential conflict. Because the transaction is minor and plan-based, it carries little signaling power regarding strategic direction or insider sentiment. From a governance lens, the event is compliant but not materially impactful.

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)
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	735	A	$14.144	24,715	D
Class A Common Stock								40,100	I	401(k) Plan
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. Employee Stock Purchase Plan

Remarks:

	Jeffrey D. Miller, EVP & Chief Financial Officer	07/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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