Executive Chairman Bradley M. Shuster executed a sale of NMI Holdings, Inc. (NASDAQ: NMIH) common stock on March 5, 2026, disposing of 19,430 shares at an average price of $38.906 per share for aggregate proceeds of $755,943. The executed sale prices ranged between $38.66 and $39.19, according to a Form 4 filed with the Securities and Exchange Commission.
Prior to that sale, Shuster exercised stock options on March 4, 2026, to acquire 55,158 shares at an exercise price of $11.10, representing a total cost of $612,253. On the same date, 35,728 shares were withheld in connection with the cashless exercise of options and to cover withholding taxes, as disclosed in the Form 4 filing.
After these transactions were recorded, Shuster retained direct ownership of 415,411 shares of NMIH common stock. The filing also notes that the Shuster Family Trust holds an additional 47,150 shares.
The insider activity coincides with valuation indicators cited in InvestingPro analysis. NMIH is reported to trade at a price-to-earnings ratio of 7.76, which InvestingPro characterizes as low relative to expected near-term earnings growth. The stock is described as appearing undervalued under InvestingPro’s Fair Value assessment, with analysts setting price targets in a $42 to $50 range.
Investors seeking more detailed research on NMIH are pointed to InvestingPro resources, including a comprehensive Pro Research Report and additional ProTips made available through that service.
Separately, NMI Holdings’ reported financial results for the fourth quarter of 2025 showed earnings per share of $1.20, slightly above a $1.19 forecast. The company recorded revenue of $180.7 million in the quarter, surpassing an anticipated $152.67 million. Those outcomes are identified in the filing and supporting materials as the company outperforming consensus estimates for the quarter.
The SEC Form 4 provides the authoritative record of the insider sale and the option exercise, and the financial-release figures summarized above reflect the company’s reported fourth-quarter 2025 performance. The filing documents the specific share counts, prices, and withholdings tied to the March 4 and March 5, 2026 transactions.
Context and next steps
The filing outlines concrete transaction details and subsequent ownership levels but does not provide commentary on the motivations behind the sale or the option exercise. Market participants reviewing the company’s valuation, recent quarterly results, and the insider filing will need to interpret those factors according to their own investment frameworks.