Form 4: NMIH Executive Chairman Shuster Receives RSU Grant

NMI Holdings, Inc. Executive Chairman Bradley M. Shuster was granted 24,437 restricted stock units and had 4,921 shares withheld for tax obligations.

Summary

• Bradley M. Shuster, Executive Chairman and Director of NMI Holdings, Inc. (NMIH), acquired 24,437 Restricted Stock Units (RSUs) on February 11, 2026.
• These RSUs were granted under the NMIH Amended and Restated 2014 Omnibus Incentive Plan and will vest 40% on the first anniversary, 40% on the second anniversary, and 20% on the third anniversary of the grant date.
• On February 12, 2026, 4,921 common shares were disposed of by NMIH to cover tax withholding obligations related to the vesting of previously granted restricted stock units from February 12, 2025.
• Following these transactions, Mr. Shuster directly beneficially owns 415,411 securities, comprising 363,130 common shares and 52,281 unvested restricted stock units.
• Additionally, Mr. Shuster indirectly beneficially owns 47,150 common shares through the Shuster Family Trust.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive event, reflecting standard executive compensation practices and continued alignment of management's interests with long-term company performance through equity grants. The tax withholding is a neutral, administrative event.

Positives

• Executive Chairman Bradley M. Shuster was granted 24,437 Restricted Stock Units, indicating continued incentive alignment with shareholder interests.
• The grant is part of the NMIH Amended and Restated 2014 Omnibus Incentive Plan, suggesting a structured approach to executive compensation.

Negatives

• 4,921 common shares were withheld by NMIH to satisfy tax obligations, which represents a reduction in direct common share holdings.

Future Outlook

The grant of restricted stock units with a multi-year vesting schedule indicates a long-term incentive structure for the Executive Chairman, aligning his interests with the company's sustained performance over the next three years.

Industry Context

StockSavvy.ai notes that the grant of restricted stock units is a common practice in executive compensation across various industries, particularly in financial services, to align management incentives with long-term shareholder value creation. The tax withholding transaction is a standard procedure upon RSU vesting.

Stakeholder Impact

• Shareholders: The RSU grant aligns the Executive Chairman's long-term interests with shareholder value creation. The tax withholding is a standard administrative event with minimal direct impact on other shareholders.
• Employees: The filing pertains to executive compensation and does not directly impact the broader employee base, though it reflects the company's overall compensation philosophy.

Next Steps

• 40% of the 24,437 Restricted Stock Units granted on February 11, 2026, will vest on February 11, 2027.
• Another 40% of these RSUs will vest on February 11, 2028.
• The final 20% of these RSUs will vest on February 11, 2029.
• Future tax withholdings will occur upon the vesting of the remaining unvested restricted stock units.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation activities (RSU grant) and a standard tax withholding event. It does not provide new information about the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. It primarily confirms ongoing executive incentive alignment.

Keywords

NMI Holdings, NMIH, Bradley M. Shuster, Form 4, Insider Transaction, Restricted Stock Units, RSU Grant, Executive Compensation, Stock Ownership, Tax Withholding