SHUSTER BRADLEY M 4

What Happened

• Bradley M. Shuster, Executive Chairman and Director of NMI Holdings, had a total of 13,897 shares withheld to satisfy tax withholding obligations tied to vested restricted stock units (RSUs). The transactions reported were 6,936 shares on 2026-02-07 and 6,961 shares on 2026-02-08. The Form 4 lists the price as $0.00 because these were company share withholdings for taxes (no open-market sale proceeds reported); footnotes state the net settlement price equaled the closing price on Feb 6, 2026.

Key Details

• Transaction dates and amounts: 2026-02-07 — 6,936 shares withheld; 2026-02-08 — 6,961 shares withheld.
• Form shows $0.00 per share (disposition) — represents tax withholding, not a cash sale. Footnotes note net settlement at closing price on 2026-02-06.
• Shares owned after transaction: 358,381 common shares and 37,514 unvested RSUs (per filing footnote).
• Related grants and vesting: withholdings relate to RSUs granted 02/07/2024 (vest in three annual installments beginning 02/07/2025) and 02/08/2023 (vest in three annual installments beginning 02/08/2024).
• Filing: Form 4 filed 2026-02-10 — appears timely (routine RSU tax withholding). Transaction code: F (tax withholding).

Context

• This was a net settlement/cashless withholding of shares to cover tax liabilities on vested RSUs — a common, routine corporate action that does not indicate an open-market sale or necessarily signal the insider’s view of the stock. No cash proceeds or market purchase were reported.