What indirect AFG share holdings are reported for Michelle Gillis on this Form 4?

The filing lists several indirect holdings: 29,790.074 shares under “Indirect #1,” 11,454 shares under “Indirect #2,” 3,249.7158 shares in the Employee Stock Purchase Plan, and 11.0597 ESPP dividend reinvestment shares, with ESPP-related amounts based on statements as of December 31, 2025.

AFG executive sells 2,247 shares at $139

American Financial Group Senior Vice President Michelle A. Gillis reported an open-market sale of 2,247 shares of common stock at a weighted average price of $139 per share.

Filing Impact

(Moderate)

Filing Sentiment

(Negative)How Sentiment works

Sentiment and the balance of points

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How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

American Financial Group Senior Vice President Michelle A. Gillis reported an open-market sale of 2,247 shares of common stock at a weighted average price of $139 per share. The sale occurred on June 24, 2026 and left her with 13,135 directly owned shares.

She also reports several indirect holdings, including 29,790.074 shares in an entity labeled Indirect #1, 11,454 shares in Indirect #2, 3,249.7158 shares through the Employee Stock Purchase Plan as of December 31, 2025, and 11.0597 ESPP dividend reinvestment shares as of that same date. The sale price reflects multiple trades between $138.95 and $139.06.

Insider Trade Summary

Net Seller: 2,247 shares

Net Sell 5 txns

Insider Gillis Michelle A

Role Senior Vice President

Sold 2,247 shs ($312K)

Type	Security	Shares	Price	Value
Sale	Common Stock	2,247	$139.00	$312K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 13,135 shares (Direct); Common Stock — 29,790.074 shares (Indirect, Indirect #1); Common Stock — 11,454 shares (Indirect, Indirect #2); Common Stock — 3,249.7158 shares (Indirect, ESPP); Common Stock — 11.0597 shares (Indirect, ESPP DRIP)

Footnotes (5)

F1. Indirect #1: MAG Trust U/A 10/3/23
F2. Indirect #2: JSG Trust U/A 10/3/23
F3. 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.
F4. Represents ESPP DRIP shares held by reporting person as of 12/31/2025.
F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $138.95 to $139.06, inclusive. The reporting person undertakes to provide to American Financial Group, Inc., ("AFG"), any security holder of AFG, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4

Key Figures

Shares sold: 2,247 shares Weighted average sale price: $139.00 per share Sale price range: $138.95–$139.06 per share +5 more

8 metrics

Shares sold 2,247 shares Open-market sale on June 24, 2026

Weighted average sale price $139.00 per share Common stock sale on June 24, 2026

Sale price range $138.95–$139.06 per share Price range for multiple sale transactions

Direct holdings after sale 13,135 shares Common stock directly owned following the transaction

Indirect #1 holdings 29,790.074 shares Indirect #1 (MAG Trust U/A 10/3/23)

Indirect #2 holdings 11,454.0000 shares Indirect #2 (JSG Trust U/A 10/3/23)

ESPP holdings 3,249.7158 shares Employee Stock Purchase Plan as of December 31, 2025

ESPP DRIP holdings 11.0597 shares ESPP dividend reinvestment as of December 31, 2025

Key Terms

Employee Stock Purchase Plan, ESPP DRIP, weighted average price, Trust U/A 10/3/23, +1 more

5 terms

Employee Stock Purchase Plan financial

"Shares owned by the reporting Person in the Issuer's Employee Stock Purchase Plan (the "ESPP")."

An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.

ESPP DRIP financial

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

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

Trust U/A 10/3/23 financial

"Indirect #1: MAG Trust U/A 10/3/23"

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did AFG executive Michelle Gillis report on this Form 4?

Michelle A. Gillis reported selling 2,247 shares of American Financial Group common stock in an open-market transaction at a weighted average price of $139 per share. The trades occurred on June 24, 2026, within a narrow price range between $138.95 and $139.06.

How many AFG shares does Michelle Gillis hold directly after this Form 4 sale?

After the reported sale, Michelle A. Gillis directly holds 13,135 shares of American Financial Group common stock. This figure reflects her remaining direct ownership position following the 2,247-share open-market sale reported for June 24, 2026, in the Form 4 filing.

What price range applied to the AFG shares sold by Michelle Gillis?

The weighted average sale price was reported as $139 per AFG share, with individual trades executed between $138.95 and $139.06. The Form 4 notes that detailed trade-by-trade pricing information is available upon request from American Financial Group or the reporting person.

How many total AFG shares did Michelle Gillis sell in this Form 4 transaction?

The Form 4 reports that Michelle A. Gillis sold 2,247 shares of American Financial Group common stock. These shares were sold in multiple open-market trades on June 24, 2026, at prices ranging from $138.95 to $139.06, producing a weighted average sale price of $139.

What does the ESPP information in Michelle Gillis’s AFG Form 4 represent?

The ESPP holdings represent shares owned through American Financial Group’s Employee Stock Purchase Plan based on a plan statement dated December 31, 2025. The filing also lists a separate ESPP dividend reinvestment balance, giving more detail on her indirect ownership via company-sponsored share accumulation programs.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 06/25/2026 - 04:30 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^*

Gillis Michelle A

(Last)

(First)

(Middle)

301 EAST FOURTH STREET

(Street)

CINCINNATI

OHIO

45202

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2026

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

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

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

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	06/24/2026		S		2,247	D	$139⁽⁵⁾	13,135	D
Common Stock								29,790.074	I	Indirect #1⁽¹⁾
Common Stock								11,454	I	Indirect #2⁽²⁾
Common Stock								3,249.7158⁽³⁾	I	ESPP
Common Stock								11.0597⁽⁴⁾	I	ESPP DRIP

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. Indirect #1: MAG Trust U/A 10/3/23

2. Indirect #2: JSG Trust U/A 10/3/23

3. 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.

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

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $138.95 to $139.06, inclusive. The reporting person undertakes to provide to American Financial Group, Inc., ("AFG"), any security holder of AFG, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4

	Michelle A. Gillis By: Joseph C. Alter, as Attorney-in-Fact	06/25/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR