Form 4: NMIH Executive Reports Routine Stock Vesting, Tax Withholding

Sentiment:

Insider Transaction Report 10 February 2026 7:47 PM

NMI Holdings' EVP, Chief Sales Officer, Norman Peter Fitzgerald, reported the disposition of shares to cover tax obligations related to restricted stock unit vesting.

Summary

Norman Peter Fitzgerald, EVP, Chief Sales Officer of NMI Holdings, Inc. (NMIH), reported changes in beneficial ownership.
On February 7, 2026, 2,323 common shares were disposed of at a price of $0. This transaction represents shares withheld by NMIH to satisfy withholding taxes due to the vesting of restricted stock units granted on February 7, 2024.
On February 8, 2026, an additional 1,317 common shares were disposed of at a price of $0. These shares were also withheld by NMIH for tax obligations related to the vesting of restricted stock units granted on February 8, 2023.
Following these transactions, Fitzgerald beneficially owns 33,830 shares, comprising 21,711 common shares and 12,119 unvested restricted stock units.
The restricted stock units vest 40% on the first and second anniversaries of the grant date, and 20% on the third anniversary.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, reflecting routine executive compensation and tax compliance rather than a significant positive or negative operational or financial development.

Positives

The vesting of restricted stock units indicates continued long-term incentive alignment between the executive and shareholder interests.

Negatives

The disposition of shares to cover tax withholding reduces the executive's direct shareholding, though this is a standard practice for RSU vesting.

Industry Context

StockSavvy.ai notes that routine Form 4 filings, such as this one detailing tax-related share dispositions from RSU vesting, are common across all industries for publicly traded companies. They typically reflect standard executive compensation practices rather than strategic shifts or market-moving events.

Corporate Governance

Change Type	Description	Effective Date	Impact Assessment
Power of Attorney Grant	Norman P. Fitzgerald granted power of attorney to William J. Leatherberry, Laura Weissbein, Augustin Joo, and Brad D. Burton to execute and file SEC Forms 3, 4, 5, and 10 on his behalf.	09/11/2025	Streamlines the process for executive compliance with Section 16(a) reporting requirements, ensuring timely and accurate filings.

Stakeholder Impact

Shareholders: Minimal direct impact as the transaction is routine for executive compensation and tax purposes. It reflects the ongoing vesting of previously granted equity.
Employees: No direct impact beyond the reporting person.

Key Dates

Date	Description
02/08/2023	Grant date of certain restricted stock units.
02/07/2024	Grant date of certain restricted stock units.
09/11/2025	Date Power of Attorney was executed by Norman P. Fitzgerald.
02/06/2026	Closing stock price date used for net settlement of withholding taxes.
02/07/2026	Transaction date for disposition of 2,323 shares due to RSU vesting and tax withholding.
02/08/2026	Transaction date for disposition of 1,317 shares due to RSU vesting and tax withholding.
02/10/2026	Signature date of the Form 4 filing.

Recommendation

hold

This Form 4 filing details routine tax-related share dispositions by an executive upon the vesting of restricted stock units. Such transactions are standard practice and do not typically indicate a change in the company's fundamental performance or outlook. Therefore, a 'hold' recommendation is appropriate as this filing provides no new information to alter an existing investment thesis.

Keywords

NMI Holdings, NMIH, Form 4, Insider Trading, Restricted Stock Units, RSU Vesting, Tax Withholding, Executive Compensation, Norman Peter Fitzgerald

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