DONEGAL MUTUAL INSURANCE CO 4

What Happened
Donegal Mutual Insurance Co., identified as a 10% owner of Donegal Group Inc. (DGICA), made two open-market purchases totaling 17,000 shares. On 2026-05-13 it acquired 8,500 shares at $16.86 for $143,274, and on 2026-05-14 it acquired 8,500 shares at $17.16 for $145,849 — combined purchases totaling $289,123. These were purchases (transaction code P), which are generally viewed as a net buy signal rather than sales.

Key Details

• Transaction dates and prices:
  • 2026-05-13: 8,500 shares @ $16.86 = $143,274
  • 2026-05-14: 8,500 shares @ $17.16 = $145,849
• Total shares purchased: 17,000; total value: $289,123
• Shares owned after transaction: Not specified in the supplied filing summary
• Filing: Report filed with accession 0000935596-26-000007 on 2026-05-15 covering the 2026-05-13–05-14 transactions; filing appears timely (filed within two business days)
• Transaction code: P = Purchase
• Insider type note: This filing reports activity by a 10% owner (Donegal Mutual Insurance Co.), an institutional stakeholder, not an individual executive

Context
Because the buyer is a 10% institutional owner rather than an executive, these purchases reflect institutional accumulation activity and should be interpreted differently than insider executive trades. The filing shows straightforward open-market purchases with no indication of option exercises, gifts, or tax withholding.