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NMIHNMI Holdings, Inc. · Insider ownership research

NMI Holdings, Inc. insiders sold $17.0M in the past 12 months. How much of their stake is that?

0% was sold under disclosed trading plans, 100% with no plan disclosed. The largest seller, Adam Pollitzer (Chief Executive Officer, Director), sold $7.7M. 37% of these sales were shares from exercising options.Share-of-stake figures for this company are being verified and will be added when that check is finished. Why

Updated Oct 16, 2026 from SEC filings · covers Oct 17, 2025 to Oct 16, 2026
$17.0M
sold with no plan disclosed, past 12 months
0%
of sales were under disclosed trading plans, past 12 months
8 of 16
officers and directors sold shares, past 12 months
Is this normal? In line with the past 5 years. 8 insiders sold; the average is 7 a year. Year by year
Latest filing: Filed Sep 15 for a tax withholding on Sep 13. Nicholas Realmuto had 302 shares withheld by the company for taxes. Filing
SEC ownership filings: 42 filed in the 12 months to Oct 16, 2026; 546 on record since Nov 7, 2013 · See the evidence

What stands out

Two officers sold $13.6M with no disclosed plan: Adam Pollitzer ($7.7M) and Bradley Shuster ($5.8M). The filings don't state a reason.Adam Pollitzer: largest such sale, Sep 4, 2026 · Bradley Shuster: largest such sale, Feb 18, 2026
Selling picked up in the last 90 days: officers and directors sold 196K shares, against an average of 69K per 90 days earlier in the period. Most of it was Adam Pollitzer (173K shares in the last 90 days) and Robert Smith (12K shares in the last 90 days); 0% of these sales were under disclosed plans.Adam Pollitzer: largest recent sale, Sep 4, 2026 · Robert Smith: largest recent sale, Aug 3, 2026

A share of stake is shown for 0 of the 8 officers and directors who sold. 16 are left out

i
Left out: Bradley Shuster, Adam Pollitzer, William Leatherberry, Robert Smith, Steven Scheid, Michael Montgomery, Aurora Swithenbank, Michael Embler, Norman Fitzgerald, Mohammad Yousaf, Nicholas Realmuto, Regina Muehlhauser, Lynn McCreary, Priya Huskins, John Erickson and Renu Agrawal (share of stake is being verified).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

Adam Pollitzer
Chief Executive Officer, Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$7.7MNo plan disclosed
Bradley Shuster
Executive Chairman, Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$5.8MNo plan disclosed
Norman Fitzgerald
EVP, Chief Sales Officer
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$899KNo plan disclosed
Michael Embler
Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$738KNo plan disclosed
Mohammad Yousaf
EVP, Chief of Ops and Tech
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$638KNo plan disclosed
All 8 sellers

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

No plan disclosedOne dollar scale for every month; the tallest bar is labeled
OctNov 2025: $738K no plan disclosedNovDecJanFeb 2026: $4.5M no plan disclosedFebMar 2026: $2.9M no plan disclosedMarAprMay 2026: $59K no plan disclosedMayJunJulAug 2026: $1.1M no plan disclosedAugSep 2026: $7.7M no plan disclosed$7.7MSepOct

Recent activity

Past 30 days, Sep 17, 2026 to Oct 16, 2026

No officer or director trades were reported for the past 30 days. The most recent before that:

Sep 13, 2026Nicholas Realmuto had 302 shares withheld by the company for taxes (not a market sale).
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Nicholas Realmuto
SVP, Controller
302n/an/an/aSep 13, 2026Sep 15, 2026

Common questions

Is the NMI Holdings, Inc. CEO selling stock?

Yes. Adam Pollitzer sold 173K shares ($7.7M) in the past 12 months, none of it under a trading plan disclosed in the filings.

Why are NMI Holdings, Inc. insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 0% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 100% had no disclosed plan. A trading plan schedules sales in advance.

Are any NMI Holdings, Inc. insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

The evidence

Who sold8 officers and directors: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Adam Pollitzer
Chief Executive Officer, Director
$7.7M
173K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Bradley Shuster
Executive Chairman, Director
$5.8M
151K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Norman Fitzgerald
EVP, Chief Sales Officer
$899K
23K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Michael Embler
Director
$738K
20K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Mohammad Yousaf
EVP, Chief of Ops and Tech
$638K
16K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Robert Smith
EVP, Chief Risk Officer
$536K
12K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Aurora Swithenbank
EVP, Chief Financial Officer
$519K
12K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Michael Montgomery
Director
$59K
1.6K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
The full ownership picture0 of 16 officers and directors confirmed

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Oct 16, 2025SoldHeld Oct 16, 2026Still held
Bradley Shuster
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Bradley Shuster are complete.
Executive Chairman, Director
n/a−151Kn/an/a
Vesting, gifts, unvested awards and holding lines for Bradley Shuster

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Bradley Shuster are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−199Kwithheld by the company for taxes
Adam Pollitzer
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. See the filing Sales and other transactions for Adam Pollitzer are complete.
Chief Executive Officer, Director
n/a−173Kn/an/a
Vesting, gifts, unvested awards and holding lines for Adam Pollitzer

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Adam Pollitzer are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−135Kwithheld by the company for taxes
William Leatherberry
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. See the filing Sales and other transactions for William Leatherberry are complete.
Chief Admin. Officer & GC
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for William Leatherberry

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for William Leatherberry are complete; balances and unit counts will be added when the check is finished.

−2.4Kgifted (net of own trusts)
−37Kwithheld by the company for taxes
Robert Smith
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. See the filing Sales and other transactions for Robert Smith are complete.
EVP, Chief Risk Officer
n/a−12Kn/an/a
Vesting, gifts, unvested awards and holding lines for Robert Smith

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Robert Smith are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−28Kwithheld by the company for taxes
Steven Scheid
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Steven Scheid are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Steven Scheid

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Steven Scheid are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Michael Montgomery
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Michael Montgomery are complete.
Director
n/a−1.6Kn/an/a
Vesting, gifts, unvested awards and holding lines for Michael Montgomery

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Michael Montgomery are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Aurora Swithenbank
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Aurora Swithenbank are complete.
EVP, Chief Financial Officer
n/a−12Kn/an/a
Vesting, gifts, unvested awards and holding lines for Aurora Swithenbank

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Aurora Swithenbank are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−15Kwithheld by the company for taxes
Michael Embler
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Michael Embler are complete.
Director
n/a−20Kn/an/a
Vesting, gifts, unvested awards and holding lines for Michael Embler

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Michael Embler are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Norman Fitzgerald
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. See the filing Sales and other transactions for Norman Fitzgerald are complete.
EVP, Chief Sales Officer
n/a−23Kn/an/a
Vesting, gifts, unvested awards and holding lines for Norman Fitzgerald

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Norman Fitzgerald are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−19Kwithheld by the company for taxes
Mohammad Yousaf
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. See the filing Sales and other transactions for Mohammad Yousaf are complete.
EVP, Chief of Ops and Tech
n/a−16Kn/an/a
Vesting, gifts, unvested awards and holding lines for Mohammad Yousaf

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Mohammad Yousaf are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−15Kwithheld by the company for taxes
Nicholas Realmuto
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Nicholas Realmuto are complete.
SVP, Controller
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Nicholas Realmuto

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Nicholas Realmuto are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−3.4Kwithheld by the company for taxes
Regina Muehlhauser
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Regina Muehlhauser are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Regina Muehlhauser

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Regina Muehlhauser are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Lynn McCreary
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Lynn McCreary are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Lynn McCreary

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Lynn McCreary are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Priya Huskins
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Priya Huskins are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Priya Huskins

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Priya Huskins are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
John Erickson
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for John Erickson are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for John Erickson

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for John Erickson are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Renu Agrawal
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Renu Agrawal are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Renu Agrawal

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Renu Agrawal are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Holdings and share of stake for NMI Holdings, Inc. are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$17.0M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $17.0M across 407,334 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

No plan disclosed · $17.0M

Sales with no 10b5-1 plan and no tax reference in the filing. $7.7M of it is Adam Pollitzer. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Adam Pollitzer, Sep 4, 2026

Taxes

451,080 shares ($0) were withheld by the company for taxes, which isn't a market sale.

Charitable gifts · 2.4K shares

Gifts the filings describe as charitable. Gifts are not sales and are not included in the sale totals.

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Adam Pollitzer
Chief Executive Officer, Director
173K$7.7M0%46%Sep 4, 2026 to Sep 4, 2026
Bradley Shuster
Executive Chairman, Director
151K$5.8M0%34%Feb 18, 2026 to Mar 24, 2026
Norman Fitzgerald
EVP, Chief Sales Officer
23K$899K0%5%Feb 17, 2026 to Feb 17, 2026
Michael Embler
Director
20K$738K0%4%Nov 19, 2025 to Nov 19, 2025
Mohammad Yousaf
EVP, Chief of Ops and Tech
16K$638K0%4%Feb 17, 2026 to Feb 17, 2026
Robert Smith
EVP, Chief Risk Officer
12K$536K0%3%Aug 3, 2026 to Aug 3, 2026
Aurora Swithenbank
EVP, Chief Financial Officer
12K$519K0%3%Aug 11, 2026 to Aug 11, 2026
Michael Montgomery
Director
1.6K$59K0%0.3%May 19, 2026 to May 19, 2026

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Oct 2025$0$0$0$0
Nov 2025$738K$0$0$738K
Dec 2025$0$0$0$0
Jan 2026$0$0$0$0
Feb 2026$4.5M$0$0$4.5M
Mar 2026$2.9M$0$0$2.9M
Apr 2026$0$0$0$0
May 2026$59K$0$0$59K
Jun 2026$0$0$0$0
Jul 2026$0$0$0$0
Aug 2026$1.1M$0$0$1.1M
Sep 2026$7.7M$0$0$7.7M
Oct 2026$0$0$0$0
Is this normal? Selling year by year5 earlier years to compare with

In line with the past 5 years. 8 insiders sold; the average is 7 a year.

12 months endingShares soldInsiders who soldProceeds
Oct 16, 2026
Latest 12 months
407K8$17.0M
Oct 16, 2025
1 year earlier
205K9$7.5M
Oct 16, 2024
2 years earlier
605K9$18.6M
Oct 17, 2023
3 years earlier
33K4$812K
Oct 17, 2022
4 years earlier
120K5$2.9M
Oct 17, 2021
5 years earlier
742K9$17.5M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty16 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for NMI Holdings, Inc. are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology546 filings on record, 42 filed in the 12-month period, and how we read them

All 546 Forms 3, 4 and 5 on record for NMI Holdings, Inc. (SEC CIK 1547903), filed from Nov 7, 2013 to Sep 15, 2026; 42 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 16, 2026. Prices are the ones reported in each filing, often weighted averages.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (15)No filing in 18 months; last reported balances, not in any total

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.