[Form 4] DIAMOND HILL INVESTMENT GROUP INC Insider Trading Activity

Rhea-AI Filing Summary

Quinif Jo Ann, an officer listed as President of DHCM, reported a grant of 21,428 common shares of Diamond Hill Investment Group Inc. (DHIL) on 10/01/2025. The award is a five-year restricted stock grant that vests on September 30, 2030 subject to continued employment and was granted at a price of $0. After the reported transaction the filing shows 47,191 shares beneficially owned directly and 816 shares held indirectly through a 401(k). The form was filed individually and signed by a power of attorney on behalf of the reporting person.

Positive

• Long-term alignment: The five-year restricted stock award vests on September 30, 2030, aligning the reporting person with long-term shareholder interests
• No cash payment: The award was granted at a $0 price, indicating compensation-based issuance rather than a purchased transaction

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine equity grant to align executive incentives; no cash outflow and vests over five years.

The reported transaction is a non-cash restricted stock award of 21,428 common shares granted at $0 that vests on 9/30/2030, contingent on continued employment. For investors this is a standard compensation mechanism that ties executive pay to long-term share performance. The immediate dilutive impact is limited to the grant size relative to total outstanding shares (not provided in this filing). The filing discloses direct beneficial ownership of 47,191 shares and indirect ownership of 816 shares via a 401(k), which clarifies current insider holdings.

Corporate Governance Expert

TL;DR: Standard restricted stock award with multi-year vesting supports retention without immediate liquidity event.

The five-year vesting schedule and the condition of continued employment are typical governance practices to promote retention and long-term alignment. The grant being recorded at $0 indicates a compensation issuance rather than a market purchase. The Form 4 provides required transparency on the transaction and post-grant ownership levels, and it was properly executed via POA. No unusual clauses or immediate sales are disclosed in 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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Quinif Jo Ann

(Last) (First) (Middle)

325 JOHN H. MCCONNELL BLVD.

SUITE 200

(Street)

COLUMBUS OH 43215

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DIAMOND HILL INVESTMENT GROUP INC [ DHIL ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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
Common(1)	10/01/2025		A		21,428	A	$0	47,191	D
Common								816	I	By 401K

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. Represents a five-year restricted stock award. This award will vest on September 30, 2030, subject to continued employment.

	Carlotta D. King by POA	10/01/2025
	** 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 transaction did the DHIL Form 4 report on 10/01/2025?

The Form 4 reports a grant of 21,428 common shares to Quinif Jo Ann on 10/01/2025, recorded as a restricted stock award.

When do the restricted shares reported on DHIL Form 4 vest?

The restricted stock award vests on September 30, 2030, subject to continued employment.

How many shares does the reporting person own after the transaction?

Following the transaction the filing shows 47,191 shares beneficially owned directly and 816 shares indirectly via a 401(k).

Was there any cash paid for the shares in the reported transaction?

No cash was paid; the award was granted at a $0 price.

Who signed the Form 4 for the reporting person?

The Form 4 was signed by Carlotta D. King by power of attorney on 10/01/2025.