NMI Holdings, Inc. — Director's Dealing 2014

Feb 14, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NMI Holdings, Inc. (NMIH)
CIK: 0001547903
Period of Report: 2014-02-12

Reporting Person: Merkle Claudia J (EVP, Chief Insurance Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-12	Stock Option (right to buy)	$12.32	A	76000	Acquired	2024-02-12	Class A Common Shares, $0.01 par value per share (76000.0)	Direct
2014-02-12	Restricted Stock Unit (right to receive)	$0.0	A	9500	Acquired	2024-02-12	Class A Common Shares, $0.01 par value per share (9500.0)	Direct

Footnotes

F1: Granted pursuant to the NMI Holdings, Inc. 2012 Stock Incentive Plan. The stock option award is time vested based generally on continued service and is scheduled to vest in equal installments on each of the first, second and third anniversaries of the date of the grant, which grant occurred on February 12, 2014.

F2: Granted pursuant to the NMI Holdings, Inc. 2012 Stock Incentive Plan. Each restricted stock unit represents a contingent right to receive one NMI Holdings, Inc. common share upon vesting and settlement. The restricted stock unit award is time vested based generally on continued service and is scheduled to vest in equal installments on each of the first, second and third anniversaries of the date of the grant, respectively, which grant occurred on February 12, 2014.