Insider Form 4: NMIH director now holds 46,046 shares/RSUs

Rhea-AI Filing Summary

NMI Holdings, Inc. (NMIH) reported an insider share sale by one of its directors. On 11/19/2025, the director sold 20,000 common shares of NMI Holdings in open market transactions at a weighted average price of $36.900 per share. The filing states that the sale prices on that date ranged from $36.715 to $37.070 per share.

After this transaction, the director beneficially owns 46,046 NMI Holdings equity instruments, consisting of 41,607 common shares and 4,439 unvested restricted stock units. The reporting person has agreed to provide full breakdowns of the shares sold at each price within the disclosed range upon request by the SEC staff, the company, or any NMIH security holder.

Insider Trade Summary

Net Seller: 20,000 shares ($738,000)

Net Sell 1 txn

Insider EMBLER MICHAEL J

Role Director

Sold 20,000 shs ($738K)

Type	Security	Shares	Price	Value
Sale	Common Shares, $0.01 par value per share	20,000	$36.90	$738K

Holdings After Transaction: Common Shares, $0.01 par value per share — 46,046 shares (Direct)

Footnotes (1)

1. The common stock was sold by the reporting person in a series of open market transactions at a weighted average sale price of $36.900. The range of sale prices on the transaction date was $36.715 to $37.070. The reporting person undertakes to provide, upon request by the SEC staff, NMIH or a security holder of NMIH, full information regarding the shares sold at each price. Represents 41,607 common shares and 4,439 unvested restricted stock units.

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^*

EMBLER MICHAEL J

(Last) (First) (Middle)

C/O NMI HOLDINGS, INC.

2100 POWELL STREET, 12TH FL.

(Street)

EMERYVILLE CA 94608

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NMI Holdings, Inc. [ NMIH ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/19/2025

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 Shares, $0.01 par value per share	11/19/2025		S		20,000	D	$36.9(1)	46,046(2)	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. The common stock was sold by the reporting person in a series of open market transactions at a weighted average sale price of $36.900. The range of sale prices on the transaction date was $36.715 to $37.070. The reporting person undertakes to provide, upon request by the SEC staff, NMIH or a security holder of NMIH, full information regarding the shares sold at each price.

2. Represents 41,607 common shares and 4,439 unvested restricted stock units.

Remarks:

	/s/ Augustin Joo, as Attorney-in-Fact	11/24/2025
	** 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 insider transaction did NMI Holdings (NMIH) report in this Form 4?

The Form 4 reports that a director of NMI Holdings sold 20,000 shares of NMIH common stock in open market transactions on 11/19/2025.

At what prices were the 20,000 NMIH shares sold by the director?

The director sold the 20,000 shares at a weighted average sale price of $36.900 per share, with an individual trade price range from $36.715 to $37.070.

How many NMI Holdings (NMIH) shares does the director own after the sale?

Following the reported transaction, the director beneficially owns 46,046 NMI Holdings equity instruments, including 41,607 common shares and 4,439 unvested restricted stock units.

What type of security was involved in the NMIH insider transaction?

The transaction involved NMI Holdings common shares with a par value of $0.01 per share, reported as a sale in Table I of the Form 4.

Was this Form 4 filed by more than one reporting person for NMIH?

No. The Form 4 indicates that it was filed by one reporting person, who is a director of NMI Holdings.

Does the NMIH director offer more detail on the trade prices?

Yes. The director undertakes to provide full information on the shares sold at each price within the $36.715 to $37.070 range upon request by the SEC staff, NMIH, or any NMIH security holder.