[Form 4] Donegal Group Inc Insider Trading Activity

Rhea-AI Filing Summary

VINCENT A. VIOZZI, identified as Sr. VP & Chief Investment Officer and an officer of Donegal Group Inc (DGICA), reported transactions dated 08/15/2025 on Form 4. The filing shows an acquisition of 32 Class A common shares at a price of $17.74 via the company's dividend reinvestment plan, and a reported disposition of 8,143 Class A common shares. After the reported acquisition, the filing lists 3,108 shares held indirectly in a 401(k) plan. The Form 4 was signed by a power of attorney on 08/25/2025. The document contains only the transaction details disclosed and no additional explanatory commentary.

Positive

• Form 4 was filed, meeting Section 16 disclosure requirements
• Reinvestment purchase of 32 shares via the dividend reinvestment plan demonstrates continued ownership alignment

Negative

• Large disposition of 8,143 Class A shares reported without a disclosed price in the filing
• Insufficient detail on whether the sale was part of a pre-established trading plan or executed for specific personal reasons

Insights

Securities Analyst

TL;DR: Insider reported a small reinvestment purchase and a large disposition; holdings include an indirect 401(k) position.

The Form 4 shows a 32-share acquisition at $17.74 under a dividend reinvestment plan and a separate 8,143-share disposal. The filing identifies the reporting person as the Sr. VP & Chief Investment Officer, suggesting transactions are personal and plan-related rather than corporate actions. The reported indirect holding of 3,108 shares in a 401(k) indicates part of the insider's stake is held in a tax-advantaged retirement vehicle. The filing lacks price detail for the large disposition and does not state whether the disposal was executed under a trading plan or for other reasons, which limits assessment of intent.

Corporate Governance Expert

TL;DR: Required Section 16 disclosure was made; the mix of plan-based reinvestment and a large sale merits attention but is not itself a governance breach.

The Form 4 appears to comply with Section 16 reporting by documenting acquisition via dividend reinvestment and a significant sale. The presence of an indirect 401(k) holding is routine for executive compensation structures. From a governance perspective, the filing does not indicate any prohibited trading or failure to disclose. However, absence of a stated trading plan or sale price detail for the 8,143-share disposition constrains evaluation of whether the sale followed pre-approved instructions or was opportunistic. No material corporate disclosures accompany this filing.

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^*

VIOZZI VINCENT ANTHONY

(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)
	Sr. VP & Chief Inv 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	32	A	$17.74	3,108	I	401(k) Plan
Class A Common Stock								8,143	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 did Donegal Group Inc insider VINCENT A. VIOZZI report on Form 4?

The filing reports a 32-share acquisition at $17.74 via a dividend reinvestment plan and a disposition of 8,143 Class A shares, with 3,108 shares held indirectly in a 401(k) plan.

When were the transactions reported on the Form 4?

The transactions are dated 08/15/2025, and the Form 4 was signed by power of attorney on 08/25/2025.

What position does the reporting person hold at Donegal Group Inc?

The reporting person is identified as Sr. VP & Chief Investment Officer and is an officer of the issuer.

Does the filing explain why 8,143 shares were disposed?

No. The Form 4 lists the 8,143-share disposition but provides no explanation or sale price for that transaction.

Is any portion of the insider's holding reported as indirect?

Yes. The filing lists 3,108 shares as indirectly owned through a 401(k) plan.