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  4. [Form 4] AMERICAN FINANCIAL GROUP INC Insider Trading Activity

AFG Co-CEO awarded 11,294 restricted shares

LINDNER S CRAIG reported acquisition or exercise transactions in this Form 4 filing.

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

LINDNER S CRAIG reported acquisition or exercise transactions in this Form 4 filing.

American Financial Group Co-CEO Craig S. Lindner reported an indirect grant of 11,294 shares of common stock on February 26, 2026. The filing describes this as restricted stock that vests four years from the grant date and is held through the SCL Living Trust.

The Form 4 also updates indirect ownership amounts held through several trusts, including the SCL Trust, the Frances R. Lindner Living Trust, a Dynasty Trust, a GST Trust, and the Legacy Trust dated 10/30/20. Additional shares are held in the company’s Retirement and Savings Plan, based on a statement dated December 31, 2025.

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Insider LINDNER S CRAIG
Role Co-CEO
Type Security Shares Price Value
Grant/Award Common Stock 11,294 $0.00 $0.00
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 2,868,715 shares (Indirect, Indirect #1); Common Stock — 1,146,494 shares (Indirect, Indirect #2); Common Stock — 116,578 shares (Indirect, Indirect #3); Common Stock — 3,000 shares (Indirect, Indirect #4); Common Stock — 3,000 shares (Indirect, Indirect #5); Common Stock — 134,044 shares (Indirect, Indirect #6); Common Stock — 118,166.64 shares (Indirect, Indirect #12)
Footnotes (8)
  1. F1. Represents grant of restricted stock that vests four years from the date of grant.
  2. F2. Indirect #1: SCL TTEE of the SCL Living Trust DTD 03/30/83.
  3. F3. Indirect #2: By SCL Trust.
  4. F4. Indirect #3: By Franes R. Lindner, Trustee for the Frances R. Lindner Living Trust dated 9/13/93.
  5. F5. Indirect #4: By Dynasty Trust.
  6. F6. Indirect #5: By GST Trust.
  7. F7. Indirect #6: By Legacy Trust 10/30/20.
  8. F8. Indirect #12: Held in the Company's Retirement and Savings Plan. The number of shares of Common Stock is based on a statement dated as of 12/31/25.

FAQ

What did AFG Co-CEO Craig S. Lindner report in this Form 4?
Craig S. Lindner reported an indirect grant of 11,294 restricted shares of American Financial Group common stock. The restricted stock was awarded on February 26, 2026 and is scheduled to vest four years from the grant date, subject to its stated vesting conditions.

How many AFG shares were included in the new restricted stock grant?
The new restricted stock grant covers 11,294 shares of American Financial Group common stock. These shares are reported as indirectly owned through the SCL Living Trust and are subject to a four-year vesting schedule starting from the February 26, 2026 grant date.

How is Craig S. Lindner’s ownership in AFG shares held according to the filing?
The filing shows Lindner’s AFG shares held indirectly through multiple trusts and a retirement plan. These include the SCL Living Trust, SCL Trust, Frances R. Lindner Living Trust, Dynasty Trust, GST Trust, Legacy Trust 10/30/20, and the company’s Retirement and Savings Plan.

When do Craig S. Lindner’s newly granted AFG restricted shares vest?
The 11,294 restricted shares are scheduled to vest four years from the grant date. The grant occurred on February 26, 2026, so the vesting is expected four years after that date, assuming all vesting conditions described for the award are met.

What does the Form 4 say about AFG shares in the Retirement and Savings Plan?
Some AFG common shares are held in the company’s Retirement and Savings Plan. The number of these shares is based on a plan statement dated December 31, 2025, and they are reported as an indirect ownership position associated with Craig S. Lindner.

Does this AFG Form 4 show any reported stock sales by Craig S. Lindner?
The summarized data reflects a grant of restricted stock and updates to indirect holdings, without listing any sales. Transactions other than the 11,294-share award are shown as holding entries with unknown transaction codes and no buy-or-sell direction indicated.

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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*
LINDNER S CRAIG
(Last) (First) (Middle)
301 EAST FOURTH STREET
(Street)
CINCINNATI OH 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)
Co-CEO
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)
Code V Amount (A) or (D) Price
Common Stock 02/26/2026 A 11,294(1) A $0 2,868,715 I Indirect #1(2)
Common Stock 1,146,494 I Indirect #2(3)
Common Stock 116,578 I Indirect #3(4)
Common Stock 3,000 I Indirect #4(5)
Common Stock 3,000 I Indirect #5(6)
Common Stock 134,044 I Indirect #6(7)
Common Stock 118,166.64 I Indirect #12(8)
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Represents grant of restricted stock that vests four years from the date of grant.
2. Indirect #1: SCL TTEE of the SCL Living Trust DTD 03/30/83.
3. Indirect #2: By SCL Trust.
4. Indirect #3: By Franes R. Lindner, Trustee for the Frances R. Lindner Living Trust dated 9/13/93.
5. Indirect #4: By Dynasty Trust.
6. Indirect #5: By GST Trust.
7. Indirect #6: By Legacy Trust 10/30/20.
8. Indirect #12: Held in the Company's Retirement and Savings Plan. The number of shares of Common Stock is based on a statement dated as of 12/31/25.
S. Craig Lindner 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