Bradley M. Shuster - 04 Mar 2026 Form 4 Insider Report for NMI Holdings, Inc. (NMIH)

Role: Executive Chairman, Director
Signature: /s/ Augustin Joo, as Attorney-in-Fact
Issuer symbol: NMIH
Transactions as of: 04 Mar 2026
Net transactions value: -$755,944
Form type: 4
Filing time: 06 Mar 2026, 19:05:14 UTC
Previous filing: 03 Mar 2026
Next filing: 12 Mar 2026
SEC: View on sec.gov

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	06 Mar 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		+55,158	+13%	$11.10^*	470,569	04 Mar 2026	Direct
transaction	NMIH	Common Shares, $0.01 par value per share	Tax liability		-35,728	-7.6%	$0.000000^*	434,841	04 Mar 2026	Direct	F1
transaction	NMIH	Common Shares, $0.01 par value per share	Sale	$755,944	-19,430	-4.5%	$38.91	415,411	05 Mar 2026	Direct	F2, F3
holding	NMIH	Common Shares, $0.01 par value per share						47,150	04 Mar 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		-55,158	-25%	$0.000000^*	165,472	04 Mar 2026	Common Shares, $0.01 par value per share	55,158	$11.10	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares withheld to satisfy the cashless exercise of certain options granted to the Reporting Person on February 9, 2017 at a net settlement price equal to the closing stock price on March 4, 2026, and withholding taxes due in connection with the exercise of such options. The option vested in full on February 9, 2020.
F2	The common stock was sold by the Reporting Person in a series of open market transactions at a weighted average sale price of $38.9060. The range of sale prices on the transaction date was $38.66 to $39.19. 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.
F3	Represents 363,130 common shares and 52,281 unvested restricted stock units. This Form 4 reflects a correction of previously disclosed amounts of common shares and unvested restricted stock units reported in the Form 4s filed on February 18, 2026 and February 27, 2026. No transactions were omitted or incorrectly reported.
F4	The option vested in full on February 9, 2020.