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NMI Holdings, Inc.·4

Feb 13, 8:43 PM ET

Yousaf Mohammad Nawaz 4

Research Summary

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Updated

NMIH EVP Yousaf Nawaz Receives Stock Awards

What Happened

  • Yousaf Mohammad Nawaz, EVP and Chief of Operations & Technology at NMI Holdings (NMIH), received stock awards and had shares withheld to cover taxes. On Feb 11, 2026 he was issued 27,212 vested performance-based RSUs (PRSUs) and granted 9,164 restricted stock units (RSUs) — total acquired 36,376 shares (awards recorded at $0.00). To satisfy withholding tax obligations, 10,708 shares were withheld on Feb 11 and an additional 1,595 shares were withheld on Feb 12 (total disposed: 12,303 shares). The awards were settled/issued rather than purchased.

Key Details

  • Transaction dates and types:
    • Feb 11, 2026: Award/Grant — 27,212 PRSUs vested; 9,164 RSUs granted (Transaction code A; $0.00 recorded).
    • Feb 11, 2026: Tax withholding — 10,708 shares withheld (code F).
    • Feb 12, 2026: Tax withholding — 1,595 shares withheld (code F).
  • Price: awards recorded at $0.00; withholding was performed via net settlement at the company’s closing share price on the relevant dates (per footnotes).
  • Shares owned after transactions: 37,213 common shares and 17,520 unvested RSUs (per filing).
  • Notable footnotes:
    • The 27,212 PRSUs were performance-based awards granted Feb 8, 2023 that vested after performance criteria were certified on Feb 11, 2026.
    • The new RSUs (9,164) vest 40% on each of the first two anniversaries and 20% on the third anniversary of the grant.
    • Withholdings were net settlements executed by the company to cover taxes on vested awards.
  • Filing: Form 4 filed Feb 13, 2026 reporting transactions on Feb 11–12, 2026 (filed within the usual 2‑business‑day window).

Context

  • These were company awards and vesting events, not open‑market purchases or sales by the insider. The PRSUs vested because pre-set performance goals were met; the company withheld shares to satisfy tax obligations (common practice). Such award/withholding transactions are routine compensation events and do not necessarily indicate the insider is buying or selling stock on belief about near-term share direction.