Bradley M. Shuster, Executive Chairman of NMI Holdings (NASDAQ: NMIH), completed a sale of 18,976 company shares on March 12, 2026, netting approximately $694,147. The transaction was executed at a weighted average price of $36.5803 per share, with individual sale prices ranging from $36.31 to $36.81. As of the time of reporting, the stock is trading at $37.13.
Separate from the share sale, Shuster also exercised stock options to acquire 55,158 common shares at an exercise price of $11.10 per share, corresponding to a total exercise value of $612,253, according to a Form 4 filing with the Securities and Exchange Commission. After accounting for these moves, Shuster's direct holdings in NMIH stand at 415,411 shares.
The Form 4 filing further shows that 36,182 shares were withheld to satisfy the cashless exercise of options and to cover related withholding taxes. The filing does not provide further detail beyond these amounts.
Company financials and market context
NMI Holdings reported fourth-quarter 2025 results that exceeded Wall Street expectations. The company posted earnings per share of $1.20, modestly ahead of the $1.19 forecast. Revenue for the quarter came in at $180.7 million, above the anticipated $152.67 million.
Investor response to the quarterly release was reflected in after-hours trading activity, with the company seeing share movement following the report. No recent analyst upgrades or downgrades were reported in conjunction with these results. InvestingPro analysis cited in filings and commentary indicates NMIH trades at a price-to-earnings ratio of 7.55, a valuation the analysis characterizes as undervalued.
Summary of the transactions and implications
- Sale executed: 18,976 shares sold for approximately $694,147 at a weighted average price of $36.5803.
- Options exercised: 55,158 shares acquired at $11.10 per share for a total exercise value of $612,253.
- Post-transaction holdings: Shuster directly owns 415,411 shares of NMIH.
- Withholding: 36,182 shares were withheld to cover option-related cashless exercise and taxes.
For investors seeking deeper valuation context and expanded executive activity analysis, a Pro Research Report is available on InvestingPro that covers NMIH along with over 1,400 U.S. equities.