What indirect AFG share holdings does John B. Berding report on this Form 4?

John B. Berding reports indirect AFG interests including 1,899 shares held by a trust, 5,153 shares under the Employee Stock Purchase Plan, 1,045.2238 ESPP DRIP shares, and 51,904.2124 retirement plan share equivalents, each unit economically equal to one common share.

Does the Form 4 for AFG show any insider share sales by John B. Berding?

The summarized data show one acquisition of 8,847 restricted shares and no reported sales. Other entries reflect existing indirect holdings in a trust, ESPP, DRIP, and retirement plan rather than new buy or sell transactions on the reported date.

AFG president granted 8,847 restricted shares

American Financial Group President and director John B. Berding reported an acquisition of 8,847 shares of common stock on February 26, 2026.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

American Financial Group President and director John B. Berding reported an acquisition of 8,847 shares of common stock on February 26, 2026. This was a grant of restricted stock at $0.00 per share that, according to the disclosure, vests four years from the grant date.

Following this award, Berding directly owns 77,616 common shares. He also reports indirect holdings, including 1,899 shares held by a trust, 5,153 shares in the Employee Stock Purchase Plan as of December 31, 2025, 1,045.2238 ESPP DRIP shares as of that same date, and 51,904.2124 share-equivalent units in a retirement plan where each unit is economically equivalent to one share of common stock.

Insider Trade Summary

Grant/Award: 8,847 shares

Grant/Award 5 txns

Insider BERDING JOHN B

Role President

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	8,847	$0.00	$0.00
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 77,616 shares (Direct); Common Stock — 1,899 shares (Indirect, By Trust); Common Stock — 5,153 shares (Indirect, ESPP); Common Stock — 1,045.2238 shares (Indirect, DRIP); Common Stock — 51,904.2124 shares (Indirect, By RASP)

Footnotes (4)

F1. Represents grant of restricted stock that vests four years from the date of grant.
F2. Shares owned by the reporting Person in the Issuer's Employee Stock Purchase Plan (the "ESPP"). All ESPP information reporting herein is based on a plan statement dated as of 12/31/2025.
F3. Represents ESPP DRIP shares held by reporting person as of 12/31/2025.
F4. Represents amounts held by the Reporting Person in the Issuer's retirement plan on 12/31/2025. Each share is the economic equivalent of one share of common stock. Upon termination of employment or earlier, if so elected, the Reporting Person's account balances may be distributed, at the option of the Issuer, either in cash or in shares of the Issuer's common stock.

FAQ

What insider transaction did AFG President John B. Berding report on this Form 4?

John B. Berding reported receiving a grant of 8,847 shares of American Financial Group common stock. The filing states this is restricted stock that vests four years from the grant date, increasing his directly owned shares to 77,616 after the award.

How many American Financial Group (AFG) shares does John B. Berding own directly after the grant?

After the restricted stock award, John B. Berding directly owns 77,616 AFG common shares. This figure reflects his direct holdings only and excludes additional indirect interests reported through a trust, employee stock purchase plan, dividend reinvestment, and a retirement plan.

What are the vesting terms of the 8,847 restricted AFG shares granted to John B. Berding?

The 8,847 restricted shares granted to John B. Berding vest four years from the grant date. Until vesting, these shares are subject to restrictions, but they are already counted in his direct holdings as reported in the ownership totals.

How are John B. Berding’s retirement plan holdings in AFG stock described?

His retirement plan holdings are described as amounts in the issuer’s retirement plan as of December 31, 2025. Each unit is economically equivalent to one AFG common share and may be distributed in cash or stock upon or before termination, at the issuer’s option.

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Accepted by SEC EDGAR 03/02/2026 - 05:00 PM

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BERDING JOHN B

(Last)

(First)

(Middle)

301 EAST FOURTH STREET

(Street)

CINCINNATI

45202

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
AMERICAN FINANCIAL GROUP INC [ AFG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/26/2026		A		8,847⁽¹⁾	A	$0	77,616	D
Common Stock								1,899	I	By Trust
Common Stock								5,153⁽²⁾	I	ESPP
Common Stock								1,045.2238⁽³⁾	I	DRIP
Common Stock								51,904.2124⁽⁴⁾	I	By RASP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Represents grant of restricted stock that vests four years from the date of grant.

2. Shares owned by the reporting Person in the Issuer's Employee Stock Purchase Plan (the "ESPP"). All ESPP information reporting herein is based on a plan statement dated as of 12/31/2025.

3. Represents ESPP DRIP shares held by reporting person as of 12/31/2025.

4. Represents amounts held by the Reporting Person in the Issuer's retirement plan on 12/31/2025. Each share is the economic equivalent of one share of common stock. Upon termination of employment or earlier, if so elected, the Reporting Person's account balances may be distributed, at the option of the Issuer, either in cash or in shares of the Issuer's common stock.

	John B. Berding By: Joseph C. Alter, as Attorney-in-Fact	03/02/2026
	** 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.

Source: View Original Filing on SEC EDGAR