Form 4: NMIH Executive Leatherberry Reports RSU Vesting, Tax Withholding

NMI Holdings, Inc. Chief Administrative Officer William J. Leatherberry reported the vesting of restricted stock units and the withholding of shares to cover tax obligations.

Summary

• William J. Leatherberry, Chief Administrative Officer and General Counsel of NMI Holdings, Inc. (NMIH), reported transactions related to the vesting of restricted stock units (RSUs).
• On February 7, 2026, 4,633 common shares were withheld by NMIH to satisfy tax liabilities associated with the vesting of RSUs granted on February 7, 2024. These RSUs vest 40% on the first and second anniversaries of the grant date and 20% on the third anniversary.
• On February 8, 2026, an additional 2,570 common shares were withheld by NMIH for tax obligations related to the vesting of RSUs granted on February 8, 2023. These RSUs also follow a vesting schedule of 40% on the first and second anniversaries and 20% on the third anniversary.
• The net settlement price for both transactions was based on the closing stock price on February 6, 2026.
• Following these transactions, Leatherberry beneficially owns 125,203 shares, comprising 101,133 common shares and 24,070 unvested restricted stock units.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral event, as it reflects the normal course of executive compensation through RSU vesting. The continued significant beneficial ownership by a key executive is a minor positive.

Positives

• The vesting of restricted stock units indicates continued employment and retention of a key executive.
• The executive continues to hold a significant number of shares and unvested RSUs, aligning his interests with shareholders.

Negatives

• A total of 7,203 common shares were withheld to cover tax liabilities, reducing the executive's direct share ownership.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that the vesting of restricted stock units and subsequent tax withholding is a routine event in executive compensation across various industries, particularly in publicly traded companies that utilize equity-based incentives to align management interests with shareholder value.

Stakeholder Impact

• Shareholders: Minor positive as it indicates continued executive alignment through equity ownership, though a small number of shares were withheld.
• Employees: No direct impact.
• Customers: No direct impact.
• Suppliers: No direct impact.
• Creditors: No direct impact.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation events (RSU vesting and tax withholding) and does not provide new information that would fundamentally alter the investment thesis for NMI Holdings, Inc. The transactions are expected and do not signal any significant operational or strategic shifts. Therefore, a 'hold' recommendation is appropriate as this filing alone does not warrant a change in investment position.

Keywords

NMI Holdings, NMIH, Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Executive Compensation, William J Leatherberry, Share Withholding, Tax Liability