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David Wayne Sponic, Senior Vice President at Donegal Group Inc. (NASDAQ:DGICA), recently executed a series of stock transactions, according to a recent SEC filing. On March 6, Sponic sold 6,000 shares of the company’s Class A Common Stock at an average price of $17.9852 per share, resulting in a total sale value of $107,911. Following this transaction, Sponic holds 2,006 shares directly. The sale comes as DGICA trades near its 52-week high of $18.19, with the stock delivering impressive returns of 37% over the past year and 18% year-to-date, according to InvestingPro data.
In addition to the sale, Sponic acquired 6,000 shares through option exercises at a price of $14.43 per share, which were then sold on the same day. This transaction reflects Sponic’s ongoing involvement and investment activities within the company. InvestingPro analysis indicates the stock is currently overbought, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US equities.
In other recent news, Donegal Group Inc. has introduced a new Annual Executive Incentive Plan, as revealed in a recent SEC filing. This plan, approved by the board and the Compensation Committee, is designed to offer bonuses to executive officers based on meeting specific performance goals for the fiscal year 2025. The targets include commercial lines premium growth, statutory combined ratio, and operating return on equity. The Joint Compensation Committee retains the discretion to adjust bonus payouts depending on the achievement of these objectives. Additionally, Donegal Group has announced the retirement of director Scott A. Berlucchi, who will not seek re-election at the 2025 annual stockholders meeting. Berlucchi will continue to serve until the meeting, and his decision is not related to any disagreements with the company’s operations or policies. The company has not yet announced a successor, leaving investors to watch for any potential impact on governance. These developments reflect Donegal Group’s ongoing efforts to align executive performance with financial targets and maintain transparency in its governance structure.
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