Form 4: Donegal Director Exercises Options, Sells Shares

Sentiment:

Insider Transaction Report 14 November 2025 9:35 AM

Donegal Group Inc. Director Sewell Trezevant Moore Jr. exercised stock options and subsequently sold the acquired Class A Common Stock.

Summary

Director Sewell Trezevant Moore Jr. exercised options to acquire 4,500 shares of Donegal Group Inc. Class A Common Stock at an exercise price of $14.43 per share.
Concurrently, Mr. Moore sold all 4,500 shares of Class A Common Stock acquired from the option exercise at a price of $19.7047 per share.
The transactions resulted in a net profit of $5.2747 per share, totaling $23,736.15.
Following these transactions, Mr. Moore directly holds 26,155 shares of Class A Common Stock and 1,000 shares of Class B Common Stock.
The transactions were made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction involving the exercise of options and subsequent sale of shares, which is a neutral event for company sentiment.

Positives

The director realized a profit of $5.2747 per share from the exercise and sale of options, totaling $23,736.15.

Negatives

The director's direct beneficial ownership of Class A Common Stock decreased by 4,500 shares as a result of the sale.

Future Outlook

Industry Context

Corporate Governance

Change Type	Description	Effective Date	Impact Assessment
Power of Attorney Grant	Sewell T. Moore, Jr. granted a Limited Power of Attorney to David B. Bawel, Jeffrey D. Miller, and Natasha C. Romero to prepare, execute, acknowledge, deliver, and file Forms 3, 4, and 5 with respect to Donegal Group Inc. securities.	06/02/2025	Streamlines the process for the director to comply with Section 16 reporting obligations by delegating administrative tasks to designated attorneys-in-fact.

Stakeholder Impact

Shareholders: The transaction is a routine insider sale, which typically has minimal direct impact on other shareholders unless it signals a significant change in insider sentiment or a very large volume of shares.

Key Dates

Date	Description
07/01/2021	Date options became exercisable.
06/02/2025	Date Limited Power of Attorney was executed by Sewell T. Moore, Jr.
11/13/2025	Date of option exercise and subsequent sale of Class A Common Stock.
11/14/2025	Date the Form 4 was signed by power of attorney.
12/17/2025	Expiration date of the exercised options.

Recommendation

hold

This Form 4 filing details a routine insider transaction where a director exercised expiring options and immediately sold the acquired shares. Such transactions, especially when pre-planned under Rule 10b5-1, are generally not indicative of a change in the company's fundamental outlook or a strong signal for future stock performance. Therefore, it does not warrant a change from a 'hold' recommendation based solely on this filing.

Keywords

Donegal Group Inc., DGICA, Insider Transaction, Form 4, Stock Options, Share Sale, Director, Equity, Rule 10b5-1

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