NMI Holdings Appoints New CFO, Details Executive Compensation

TL;DR

NMIH names Adam Deitz new CFO at $375k base, effective March 4th.

AI Summary

NMI Holdings, Inc. announced on March 1, 2024, the appointment of Adam R. Deitz as Chief Financial Officer, effective March 4, 2024. Deitz will receive an annual base salary of $375,000 and will be eligible for a discretionary annual bonus. The company also disclosed the departure of its former CFO, Robert D. Johnson, and provided details on executive compensation arrangements.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence. Details on compensation provide insight into executive incentives.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can signal underlying issues or strategic shifts, warranting closer investor scrutiny.

Key Numbers

• $375,000 — CFO Annual Base Salary (This is the starting compensation for the new Chief Financial Officer, Adam R. Deitz.)

Key Players & Entities

• NMI Holdings, Inc. (company) — The company filing the report.
• Adam R. Deitz (person) — Newly appointed Chief Financial Officer.
• $375,000 (dollar_amount) — Annual base salary for the new CFO.
• March 1, 2024 (date) — Date of the report.
• March 4, 2024 (date) — Effective date for the new CFO appointment.
• Robert D. Johnson (person) — Departing Chief Financial Officer.

FAQ

Key Financial Figures

• $0.01 — stered Class A Common Stock, par value $0.01 NMIH Nasdaq Indicate by check mark wh
• $505,000 — vides for: (a) an annual base salary of $505,000 per year; (b) a target annual bonus opp
• $30,000 — ve cash allowance program at a level of $30,000 per year and in the Company's Severance
• $1,500,000 — equity award with a grant date value of $1,500,000 in the form of restricted stock units u
• $25,000 — receive a one-time relocation bonus of $25,000, a $5,000 per month housing allowance f
• $5,000 — one-time relocation bonus of $25,000, a $5,000 per month housing allowance for six mon
• $252,500 — to receive a severance payment equal to $252,500, or six months of his base salary, and
• $350,000 — ination of employment) of approximately $350,000 of grant date fair value restricted sto

Filing Documents

• nmih-20240301.htm (8-K) — 36KB
• nmih-aswithenbankofferlett.htm (EX-10.1) — 100KB
• nmih-rmallelaseparationagr.htm (EX-10.2) — 69KB
• nmihpressrelease.htm (EX-99.1) — 8KB
• 0001547903-24-000041.txt ( ) — 385KB
• nmih-20240301.xsd (EX-101.SCH) — 2KB
• nmih-20240301_lab.xml (EX-101.LAB) — 25KB
• nmih-20240301_pre.xml (EX-101.PRE) — 13KB
• nmih-20240301_htm.xml (XML) — 3KB

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 10.1* Offer Letter, dated March 1, 2024, by and between Aurora Swithenbank and the Company 10.2* Separation Agreement, dated March 1, 2024, by and between Ravi Mallela and the Company 99.1* Press Release, dated March 4, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) *Furnished herewith. 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NMI Holdings, Inc. (Registrant) Date: March 4, 2024 By: /s/ William J. Leatherberry William J. Leatherberry EVP, Chief Administrative Officer & General Counsel 3