NMI Holdings (NASDAQ: NMIH) EVP sells 16,000 common shares

Rhea-AI Filing Summary

NMI Holdings, Inc. executive Yousaf Mohammad Nawaz, EVP and Chief of Operations and Technology, reported an open-market sale of 16,000 common shares on February 17, 2026 at a weighted average price of $39.8875 per share. After these transactions, he holds 38,733 equity-based interests, including 21,213 common shares and 17,520 unvested restricted stock units.

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

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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^*

Yousaf Mohammad Nawaz

(Last) (First) (Middle)

C/O NMI HOLDINGS, INC.

2100 POWELL ST.,12TH FLOOR

(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)
	EVP, Chief of Ops and Tech

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

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	02/17/2026		S		16,000	D	$39.8875(1)	38,733(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 $39.8875. The range of sale prices on the transaction date was $39.6300 to $40.0150. 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 21,213 common shares and 17,520 unvested restricted stock units.

Remarks:

	/s/ Augustin Joo, as Attorney-in-Fact	02/18/2026
	** 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.
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FAQ

What insider transaction did NMIH executive Yousaf Mohammad Nawaz report?

Yousaf Mohammad Nawaz reported selling 16,000 NMI Holdings common shares in open-market transactions. The weighted average sale price was $39.8875 per share, with trades executed between $39.6300 and $40.0150, as disclosed in the Form 4 footnote.

At what prices were the NMIH shares sold by EVP Yousaf Mohammad Nawaz?

The NMIH common shares were sold at a weighted average price of $39.8875 per share. According to the disclosure, individual trade prices on the transaction date ranged from $39.6300 to $40.0150, reflecting a series of open-market sale transactions rather than a single trade.

How many NMIH shares does Yousaf Mohammad Nawaz hold after the reported sale?

After the reported sale, Yousaf Mohammad Nawaz holds 38,733 equity-based interests in NMI Holdings. This total comprises 21,213 common shares and 17,520 unvested restricted stock units, as detailed in the Form 4 footnote describing his post-transaction holdings breakdown.

What security type did NMIH EVP Yousaf Mohammad Nawaz sell in the Form 4 filing?

He sold NMI Holdings common shares with a par value of $0.01 per share. The filing specifies these as non-derivative common stock transactions executed in the open market, rather than options, restricted stock units, or other derivative securities.

Was the NMIH insider sale by Yousaf Mohammad Nawaz a buy or sell transaction?

The transaction was a sell. The Form 4 lists transaction code “S,” described as a sale in an open market or private transaction, and classifies it as an open-market sale of 16,000 NMI Holdings common shares by the reporting executive.

Does Yousaf Mohammad Nawaz still have unvested NMIH restricted stock units after the sale?

Yes. The Form 4 footnote states that his holdings include 17,520 unvested restricted stock units. These RSUs are separate from his 21,213 directly held common shares and remain part of his total 38,733 equity-based interests after the reported open-market share sale.