[Form 4] Cass Information Systems Inc Insider Trading Activity

Rhea-AI Filing Summary

Cass Information Systems, Inc. (CASS) filed a Form 4 reporting a routine insider purchase by director Frank Wicks on 19 June 2025. Wicks acquired 311 shares of common stock at a weighted average price of $41.68 per share, increasing his direct beneficial ownership to 31,421 shares. The holdings figure includes restricted stock bonus shares that remain subject to vesting and potential forfeiture.

The filing indicates that Wicks remains an active board member and that the transaction was conducted in the open market rather than under a pre-arranged 10b5-1 trading plan (no checkbox marked). No derivative securities were involved, and there were no dispositions. Given the limited size of the purchase relative to CASS’ average daily trading volume and the director’s existing stake, the activity is considered normal course insider accumulation rather than a signal of material corporate developments.

Positive

• Director Frank Wicks increased his direct ownership by 311 shares, indicating continued personal investment in CASS equity.

Negative

• None.

Insights

Securities Analyst

TL;DR: Small insider buy; signals confidence but immaterial to valuation.

The 311-share purchase adds only about $13k to Wicks’ exposure, raising his stake to roughly 31k shares. While insider buying generally conveys positive sentiment, the dollar value is negligible versus CASS’s market cap, and no accompanying news suggests strategic shifts. I view the filing as routine and non-impactful for the investment thesis.

Corporate Governance Expert

TL;DR: Routine director purchase, no governance red flags.

The transaction complies with Section 16 reporting timelines and shows alignment of board and shareholder interests. Absence of a 10b5-1 plan suggests discretionary buying, but the small size limits governance implications. No negative compliance indicators are present.

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^*

WICKS FRANK

(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	31,421(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/ Frank Wicks	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

How many CASS shares did director Frank Wicks buy?

He purchased 311 shares on 19 June 2025.

What was the purchase price reported in the Form 4 for CASS?

The weighted average price was $41.68 per share.

How many CASS shares does Frank Wicks own after the transaction?

His direct beneficial ownership is 31,421 shares.

Did the Form 4 include any derivative security transactions?

No, Table II is blank; no options or other derivatives were reported.

Was the CASS insider trade made under a Rule 10b5-1 trading plan?

The filing does not indicate use of a 10b5-1 plan (checkbox unmarked).