[Form 4] Auburn National Bancorporation Insider Trading Activity

Rhea-AI Filing Summary

German American Bancorp, Inc. (GABC) filed a Form 4 disclosing that director Gregory Scott McComb received 1,298 shares of restricted common stock on 06/30/2025. The shares were granted at $0 cost as part of the company’s annual non-employee director equity program and will vest on July 1, 2026. After this grant, McComb’s direct ownership rises to 16,815 shares, while he continues to hold 383,429 shares indirectly through a trust and 33,230 shares in an IRA. The filing shows no derivative transactions and no dispositions. Because the grant is compensation-related and represents a small fraction of McComb’s existing 433k+ total holdings, it is unlikely to be market-moving but does marginally increase insider alignment with shareholders.

Positive

• Director’s ownership increases by 1,298 shares, modestly strengthening insider alignment.

Negative

• The grant is small relative to existing holdings and involves no open-market purchase, offering limited confidence signaling.

Insights

Securities Analyst

TL;DR: Routine director equity grant; negligible valuation impact.

The 1,298-share restricted stock award is standard board compensation, adding roughly $50-60k (assuming a mid-$40 share price) to McComb's stake. His aggregate ownership already exceeds 430k shares, so incremental dilution is de minimis for investors and does not indicate a trading view. Lack of open-market buying means no explicit confidence signal. Overall, the filing is informational and should not shift valuation models or consensus estimates.

Corporate Governance Expert

TL;DR: Grant supports director-shareholder alignment; vests in one year.

Annual equity compensation with a one-year vesting schedule encourages board retention and aligns director incentives with long-term shareholder returns. The absence of performance conditions limits its motivational strength, but the modest size aligns with best-practice pay levels for mid-cap banks. No governance red flags are evident.

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^*

Barrett J Tutt

(Last) (First) (Middle)

P. O. BOX 3110

(Street)

AUBURN AL 36831-3110

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AUBURN NATIONAL BANCORPORATION, INC [ AUBN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/02/2025

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, par value $0.1	07/02/2025		P		53	A	$24.6912	8,948	D
common stock, par value $0.1	07/02/2025		P		26	A	$23.2233	8,974	D

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:

Remarks:

DRIP/OCP

	/s/ J. Tutt Barrett	07/02/2025
	** 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.

FAQ

What did GABC disclose in the latest Form 4?

Director Gregory Scott McComb received 1,298 restricted shares on 06/30/2025 as part of annual board compensation.

How many GABC shares does McComb now own?

Post-grant, he holds 16,815 shares directly and 416,659 shares indirectly via a trust and IRA.

When will the restricted stock granted to McComb vest?

The shares are scheduled to vest on July 1, 2026.

Was there any cash paid for the shares?

No. The shares were issued at $0 purchase price as equity compensation.

Does the filing include any derivative transactions?

No derivative securities were acquired or disposed of in this Form 4.