[Form 4] NMI Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

NMI Holdings, Inc. executive William J. Leatherberry reported an administrative transfer of 4,900 common shares on February 27, 2026. The shares were transferred for no consideration to his former spouse under a marriage settlement agreement and are no longer beneficially owned by him.

After this transaction, he directly holds 124,901 common shares and 34,433 unvested restricted stock units, reflecting his continuing equity stake in the company.

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).

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^*

Leatherberry William J

(Last) (First) (Middle)

C/O NMI HOLDINGS, INC.

2100 POWELL ST.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Admin. Officer & GC

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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	02/27/2026		J		4,900(1)	D	$0	159,334(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. Pursuant to a marriage settlement agreement, these common shares were transferred for no consideration to the Reporting Person's former spouse and such shares are no longer beneficially owned by the Reporting Person.

2. Represents 124,901 common shares and 34,433 unvested restricted stock units.

Remarks:

	/s/ Augustin Joo, as Attorney-in-Fact	02/27/2026
	** 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.

FAQ

What insider transaction did NMI Holdings (NMIH) report for William J. Leatherberry?

NMI Holdings reported that executive William J. Leatherberry transferred 4,900 common shares on February 27, 2026. The transfer was part of a marriage settlement agreement and involved no consideration, meaning he did not receive payment for these shares.

Was the NMIH insider transaction by William J. Leatherberry a sale of shares?

No, the transaction was not a sale. The 4,900 common shares were transferred for no consideration to his former spouse under a marriage settlement agreement, and those shares are no longer beneficially owned by him after the transfer.

How many NMI Holdings (NMIH) shares does William J. Leatherberry own after the Form 4 transaction?

Following the reported transaction, William J. Leatherberry beneficially owns 124,901 common shares of NMI Holdings. In addition, he holds 34,433 unvested restricted stock units, which represent potential future share delivery subject to vesting conditions.

What does transaction code J mean in the NMIH Form 4 for William J. Leatherberry?

Transaction code J indicates an “other acquisition or disposition” rather than a standard open-market trade. In this case, it reflects the transfer of 4,900 common shares to his former spouse pursuant to a marriage settlement agreement, with no consideration received.

Does William J. Leatherberry still benefit from the 4,900 NMIH shares transferred in the Form 4?

No, he no longer beneficially owns those 4,900 shares. The footnote explains they were transferred for no consideration to his former spouse under a marriage settlement agreement, removing them from his beneficial ownership stake.