Cass Information Systems Insider Adds 311 Shares; Stake Now 33,016

Rhea-AI Filing Summary

Insider transaction overview: Cass Information Systems Inc. (CASS) filed a Form 4 disclosing that Director James J. Lindemann acquired 311 shares of common stock on 19 June 2025 at a price of $41.68 per share.

Following the purchase, Lindemann’s direct beneficial ownership increased to 33,016 shares. The filing notes that these holdings include restricted stock bonus shares that remain subject to vesting and potential forfeiture. No derivative securities were reported, and there were no dispositions.

Materiality assessment: The dollar value of the purchase (≈ $13,000) is immaterial relative to CASS’s market capitalization and trading volume. Nonetheless, insider purchases—even small ones—are often interpreted as a marginally positive signal because they indicate management confidence. Investors should, however, view this specific transaction as routine rather than a catalyst for valuation change.

Key compliance details: • Filing made by a single reporting person.
• Transaction coded “A” (acquisition) under SEC Instruction 8.
• Ownership remains direct; no indication of Rule 10b5-1 trading plan was provided.
• Form was signed on 20 June 2025, within the two-business-day submission window mandated by Section 16(a).

Investor takeaway: While the purchase slightly expands the director’s equity stake and aligns interests with shareholders, the modest size means limited impact on CASS’s fundamentals or governance dynamics.

Insights

Financial Analyst

TL;DR: Small insider buy; neutral impact on valuation.

The director’s purchase is symbolic rather than financially meaningful. At roughly $13 k, it does not materially shift ownership structure nor signal a significant change in expectations. Compliance timing is proper and no derivatives suggest straightforward equity accumulation. For portfolio managers, treat this as routine insider activity—not a basis for altering position sizing.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider LINDEMANN JAMES J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	311	$41.68	$13K

Holdings After Transaction: Common Stock — 33,016 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

LINDEMANN JAMES J

(Last) (First) (Middle)

12444 POWERSCOURT DRIVE

SUITE 550

(Street)

ST. LOUIS MO 63131

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CASS INFORMATION SYSTEMS INC [ CASS ]

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)
06/19/2025

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	06/19/2025		A		311	A	$41.68	33,016(1)	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:

1. Includes restricted stock bonus shares, subject to vesting and forfeiture.

Remarks:

	/s/ James J. Lindemann	06/20/2025
	** 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 the CASS Form 4 filed on 20 June 2025 report?

Director James J. Lindemann bought 311 shares of Cass Information Systems common stock on 19 June 2025 at $41.68 per share.

How many CASS shares does James J. Lindemann own after the transaction?

He now beneficially owns 33,016 shares, including restricted stock subject to vesting.

Was the transaction a purchase or sale of CASS stock?

It was an acquisition (purchase) coded "A" under SEC rules; no shares were sold.

Did the filing mention any derivative securities or options?

No. The Form 4 shows no derivative securities acquired or disposed of.

Does the filing indicate use of a Rule 10b5-1 trading plan?

No. The checkbox for a Rule 10b5-1 plan was left unchecked.

Is this insider transaction material to CASS investors?

Given the value (≈ $13 k), most analysts consider it immaterial to CASS’s financial outlook or valuation.