Donegal Mutual (NASDAQ: DGICA) adds 17,000 Class A shares in open-market buys

Rhea-AI Filing Summary

Donegal Mutual Insurance Company, a more than ten percent owner of Donegal Group Inc., reported open-market purchases of the company’s Class A Common Stock. It bought 8,500 shares at an average price of $17.4790 on May 21 and another 8,500 shares at $17.4045 on May 22, for total purchases of 17,000 shares. After these transactions, it directly holds 14,056,109 shares of Class A Common Stock and 4,751,974 shares of Class B Common Stock.

Insights

Equity ownership analyst

Large shareholder modestly increases Class A stake through open-market buys.

Donegal Mutual Insurance Company, already a more than ten percent owner of Donegal Group Inc., purchased a total of 17,000 Class A shares in the open market around $17.40–$17.48 per share.

Following these transactions, its direct holdings stand at 14,056,109 Class A shares and 4,751,974 Class B shares. The new purchases are small relative to this existing position, suggesting incremental accumulation rather than a major shift in ownership exposure.

The filing shows only common stock transactions and no derivative positions, indicating the activity is straightforward cash equity buying instead of option exercises or complex instruments.

Insider Trade Summary

Net Buyer: 17,000 shares ($296,510)

Net Buy 3 txns

Insider DONEGAL MUTUAL INSURANCE CO

Role null

Bought 17,000 shs ($297K)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock	8,500	$17.4045	$148K
Purchase	Class A Common Stock	8,500	$17.479	$149K
holding	Class B Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 14,056,109 shares (Direct, null); Class B Common Stock — 4,751,974 shares (Direct, null)

Footnotes (1)

Key Figures

Open-market purchase 1: 8,500 shares at $17.4790 Open-market purchase 2: 8,500 shares at $17.4045 Total shares bought: 17,000 shares +2 more

5 metrics

Open-market purchase 1 8,500 shares at $17.4790 Class A Common Stock on May 21, 2026

Open-market purchase 2 8,500 shares at $17.4045 Class A Common Stock on May 22, 2026

Total shares bought 17,000 shares Net open-market purchases in this filing

Class A holdings after 14,056,109 shares Direct Class A ownership following transactions

Class B holdings 4,751,974 shares Direct Class B ownership as of May 21, 2026

Key Terms

open-market purchase, ten percent owner, Class A Common Stock, Class B Common Stock, +1 more

5 terms

open-market purchase financial

"transaction_action: open-market purchase"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

ten percent owner regulatory

"is_ten_percent_owner: 1"

Class A Common Stock financial

"security_title: Class A Common Stock"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

Class B Common Stock financial

"security_title: Class B Common Stock"

A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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Form 4 Insider Transactions: What Each Field Means →

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^*

DONEGAL MUTUAL INSURANCE CO

(Last) (First) (Middle)

1195 RIVER ROAD

P.O. BOX 302

(Street)

MARIETTA PENNSYLVANIA 17547

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DONEGAL GROUP INC [ DGICA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/21/2026		P		8,500	A	$17.479	14,047,609	D
Class A Common Stock	05/22/2026		P		8,500	A	$17.4045	14,056,109	D
Class B Common Stock								4,751,974	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:

Remarks:

	Jeffrey D. Miller, EVP & Chief Financial Officer	05/26/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider activity did Donegal Mutual report for DGICA?

Donegal Mutual Insurance Company reported buying 17,000 shares of Donegal Group Inc. Class A Common Stock in the open market. The purchases occurred over two days and modestly increased its already large ownership stake in the company.

How many DGICA shares did Donegal Mutual buy and at what prices?

Donegal Mutual bought 8,500 Class A shares at $17.4790 on May 21 and 8,500 shares at $17.4045 on May 22. Together, these open-market purchases total 17,000 shares of Donegal Group Inc. Class A Common Stock.

What is Donegal Mutual’s DGICA Class A ownership after these trades?

After the reported transactions, Donegal Mutual directly holds 14,056,109 shares of Donegal Group Inc. Class A Common Stock. This reflects the addition of 17,000 shares purchased in the open market across two consecutive trading days in May 2026.

Did the filing show any changes in DGICA Class B shares?

The filing lists a holding entry for 4,751,974 shares of Class B Common Stock with no specific buy or sell code. This indicates Donegal Mutual’s direct Class B ownership level as of May 21, 2026, without detailing a new transaction in that class.

Is Donegal Mutual considered a major shareholder of Donegal Group Inc.?

Yes. The filer is identified as a more than ten percent owner of Donegal Group Inc. Its direct holdings of 14,056,109 Class A shares and 4,751,974 Class B shares indicate a substantial, long-standing ownership position in the company.