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David Wayne Sponic, Senior Vice President at Donegal Group Inc. (NASDAQ:DGICA), recently executed notable transactions involving the company’s Class A common stock. On March 13 and March 14, Sponic sold a total of 6,000 shares, fetching a combined total of approximately $108,996. The sale prices ranged from $18.1659 to $18.1686 per share, notably close to the stock’s 52-week high of $18.25. According to InvestingPro data, DGICA has shown impressive momentum with a 43.86% return over the past year.
Alongside these sales, Sponic also exercised options to acquire 6,000 shares at a price of $14.43 each, amounting to a total acquisition cost of $86,580. Following these transactions, Sponic holds 2,006 shares directly in the $647.2M market cap company. InvestingPro analysis reveals 8 additional key insights about DGICA, including its dividend history and market correlation patterns. Get the full picture with InvestingPro’s comprehensive research report, available for over 1,400 US stocks.
In other recent news, Donegal Group Inc. has introduced a new Annual Executive Incentive Plan, as detailed in a recent SEC filing. This plan, approved by the board of directors and the Compensation Committee, is designed to offer bonus opportunities to executive officers contingent on meeting specific performance goals for the fiscal year 2025. The plan specifies that bonuses will be awarded if the company achieves targets related to commercial lines premium growth and statutory combined ratio, along with a specified operating return on equity. The Joint Compensation Committee retains the discretion to issue bonuses based on what they consider beneficial for both Donegal Group and Donegal Mutual Insurance Company. This initiative aims to align the interests of the company with its shareholders by linking executive compensation to financial performance. Further details, including salary increases and stock option grants for named executive officers, will be available in the Proxy Statement for the 2025 Annual Meeting of Stockholders. The plan represents a strategic effort by Donegal Group to retain key executives through competitive performance-based compensation.
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