Donegal (DGICA) SVP David Bawel Buys 515 Shares via ESPP

What Happened
David Bawel, SVP & Chief Accounting Officer of Donegal Group Inc. (DGICA), acquired 515 shares on 2026-07-01 at $16.03 per share, a total cost of approximately $8,256. The transaction is recorded as an acquisition (code J) related to an Employee Stock Purchase Plan.

Key Details

• Transaction date and price: 2026-07-01 at $16.03 per share (515 shares; ~$8,256 total).
• Transaction code: J (other acquisition or disposition) — filing footnote indicates this was under the Employee Stock Purchase Plan (F1).
• Shares owned after transaction: not specified in the Form 4 filing.
• Filing date: 2026-07-02 (filed the next day; not indicated as late).

Context
An ESPP purchase means the shares were acquired through the company’s employee purchase plan (often via payroll deductions and sometimes at a discount). This is a straightforward employee purchase, not an option exercise or a sale; such purchases are commonly part of routine employee benefit programs and can be interpreted as an insider buying stock, though they do not by themselves indicate the insider’s broader market view.