SEC Form 4
| FORM 4 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
| 2. Issuer Name and Ticker or Trading Symbol NMI Holdings, Inc. [ NMIH ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
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| 3. Date of Earliest Transaction (Month/Day/Year) 01/02/2020 | ||||||||||||||||||||||||||
| 4. If Amendment, Date of Original Filed (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Class A Common Shares, $0.01 par value per share | 01/02/2020 | M | 25,625 | A | $10 | 517,927 | D | |||
| Class A Common Shares, $0.01 par value per share | 01/02/2020 | S | 25,625(1) | D | $32.0252(2) | 492,302 | D | |||
| Class A Common Shares, $0.01 par value per share | 01/02/2020 | S | 25,116(1) | D | $32.1655(3) | 47,150 | I | By Shuster Family Trust, of which Mr. Shuster and his wife are co-trustees and beneficiaries | ||
| Class A Common Shares, $0.01 par value per share | 01/03/2020 | M | 25,625 | A | $10 | 517,927 | D | |||
| Class A Common Shares, $0.01 par value per share | 01/03/2020 | S | 25,625(1) | D | $32.2362(4) | 492,302(5) | D | |||
| Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Stock Option (right to buy) | $10 | 01/02/2020 | M | 25,625 | (6) | 04/24/2022 | Class A Common Shares, $0.01 par value per share | 25,625 | $0 | 25,625 | D | ||||
| Stock Option (right to buy) | $10 | 01/03/2020 | M | 25,625 | (6) | 04/24/2022 | Class A Common Shares, $0.01 par value per share | 25,625 | $0 | 0 | D | ||||
| Explanation of Responses: |
| 1. Mr. Shuster has adopted a 10b5-1 Plan. This 10b5-1 Plan allows for the orderly disposition of a portion of shares owned by Mr. Shuster as part of his investment and financial planning needs, including individual asset diversification. The shares were sold pursuant to the 10b5-1 Plan. |
| 2. The 25,625 shares were sold by the reporting person in a series of open market transactions on the transaction date at a weighted average sale price of $32.0252. The range of sale prices was $31.70 to $33.21. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each price. |
| 3. The 25,116 shares were sold by the reporting person in a series of open market transactions on the transaction date at a weighted average sale price of $32.1655. The range of sale prices was $31.63 to $33.27. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each price. |
| 4. The 25,625 shares were sold by the reporting person in a series of open market transactions on the transaction date at a weighted average sale price of $32.2362. The range of sale prices was $32.20 to $32.29. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each price. |
| 5. Represents 428,159 class A common shares and 64,143 unvested restricted stock units. |
| 6. The option vested in full on April 24, 2015. |
| Remarks: |
| /s/ Nicole C. Sanchez as Attorney-in-Fact | 01/06/2020 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||