Form 4: NMIH CFO Swithenbank Reports RSU Vesting, Tax Withholdings

NMI Holdings CFO Aurora Swithenbank reported multiple transactions related to restricted stock unit vesting and tax withholdings, alongside a new RSU grant.

Summary

• CFO Aurora Swithenbank reported transactions on NMI Holdings, Inc. common shares and restricted stock units.
• On May 1, 2025, 9,117 common shares were withheld by NMIH to satisfy withholding taxes due in connection with the vesting of certain restricted stock units.
• On May 8, 2025, an additional 2,916 common shares were withheld by NMIH to satisfy withholding taxes due from the vesting of other restricted stock units.
• On February 11, 2026, Swithenbank was granted 14,784 restricted stock units pursuant to the NMIH Amended and Restated 2014 Omnibus Incentive Plan.
• On February 12, 2026, 3,363 common shares were withheld by NMIH to satisfy withholding taxes due from the vesting of restricted stock units.
• Following these reported transactions, Swithenbank beneficially owns 14,629 common shares and 59,824 unvested restricted stock units.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as neutral, as the transactions are routine administrative events related to executive compensation and do not reflect discretionary buying or selling by the insider.

Positives

• Grant of 14,784 restricted stock units on February 11, 2026, indicating continued long-term incentive and alignment of the CFO's interests with company performance.

Negatives

• Disposition of 9,117 common shares on May 1, 2025, to cover tax liabilities associated with RSU vesting.
• Disposition of 2,916 common shares on May 8, 2025, to cover tax liabilities associated with RSU vesting.
• Disposition of 3,363 common shares on February 12, 2026, to cover tax liabilities associated with RSU vesting.

Future Outlook

Restricted stock units granted on May 8, 2024, are scheduled to vest 40% on May 1, 2026, and 20% on May 1, 2027. The newly granted restricted stock units on February 11, 2026, will vest 40% on each of the first and second anniversaries of the grant date and 20% on the third anniversary of the grant date.

Industry Context

StockSavvy.ai notes that these are routine insider transactions related to executive compensation, common across industries for long-term incentive plans designed to align executive interests with shareholder value.

Comparison to Industry Standards

• These transactions, involving the vesting of restricted stock units and the withholding of shares for tax purposes, are standard practices in executive compensation across publicly traded companies.
• The grant of new restricted stock units is also a typical component of long-term incentive plans for senior executives, similar to those observed at peer companies within the financial services sector, such as MGIC Investment Corporation (MTG) or Radian Group Inc. (RDN).

Stakeholder Impact

• Shareholders: The transactions reflect the ongoing execution of executive compensation plans, aligning the CFO's long-term interests with the company's performance. The tax withholdings are administrative and do not represent discretionary sales.
• Employees: No direct impact on general employees is mentioned in this filing.

Next Steps

• Future vesting of restricted stock units granted on May 8, 2024, on May 1, 2026, and May 1, 2027.
• Future vesting of restricted stock units granted on February 11, 2026, on the first, second, and third anniversaries of the grant date.

Key Dates

Recommendation

The filing details routine insider transactions related to executive compensation, specifically RSU vesting, tax withholdings, and a new RSU grant. These are administrative events and do not indicate a change in the company's fundamental outlook or the insider's discretionary view on the stock's value. Therefore, it provides no new information to warrant a change in investment posture.

Keywords

NMIH, NMI Holdings, Aurora Swithenbank, Form 4, insider transaction, restricted stock units, RSU, executive compensation, stock ownership