Bradley M. Shuster - 18 Feb 2026 Form 4 Insider Report for NMI Holdings, Inc. (NMIH)

Signature
/s/ Augustin Joo, as Attorney-in-Fact
Issuer symbol
NMIH
Transactions as of
18 Feb 2026
Net transactions value
-$1,569,122
Form type
4
Filing time
18 Feb 2026, 19:47:21 UTC
Previous filing
13 Feb 2026
Next filing
27 Feb 2026

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
SHUSTER BRADLEY M Executive Chairman, Director C/O NMI HOLDINGS, INC., 2100 POWELL STREET 12TH FL., EMERYVILLE /s/ Augustin Joo, as Attorney-in-Fact 18 Feb 2026 0001052831

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NMIH Common Shares, $0.01 par value per share Options Exercise $610,500 +55,000 +13% $11.10 470,411 18 Feb 2026 Direct
transaction NMIH Common Shares, $0.01 par value per share Sale $2,179,622 -55,000 -12% $39.63 415,411 18 Feb 2026 Direct F1, F2
holding NMIH Common Shares, $0.01 par value per share 47,150 18 Feb 2026 By Shuster Family Trust, of which Mr. Shuster and his wife are co-trustees and beneficiaries

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NMIH Stock Option (right to buy) Options Exercise $0 -55,000 -17% $0.000000 275,788 18 Feb 2026 Common Shares, $0.01 par value per share 55,000 $11.10 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The common stock was sold by the reporting person in a series of open market transactions at a weighted average sale price of $39.6295. The range of sale prices on the transaction date was $39.56 to $39.79. The reporting person undertakes to provide, upon request by the SEC staff, NMIH or a security holder of NMIH, full information regarding the shares sold at each price.
F2 Represents 308,130 common shares and 107,281 unvested restricted stock units.
F3 The option vested in full on February 9, 2020.