[Form 4] Cass Information Systems Inc Insider Trading Activity

Rhea-AI Filing Summary

Cass Information Systems, Inc. (CASS) Form 4 filing: Director Randall L. Schilling reported an acquisition of 311 common shares on 06/19/2025 at a stated price of $41.68 per share. The filing lists his total beneficial ownership at 30,788 shares after the transaction, which includes restricted stock bonus shares that remain subject to future vesting and potential forfeiture.

The transaction is coded “A,” indicating an award or grant rather than an open-market purchase. No derivative securities were involved, and no additional transactions were disclosed. Because the award is relatively small and part of routine director compensation, immediate financial impact on CASS is limited, but it modestly increases insider equity alignment.

Positive

• Increased insider ownership: Director’s stake rises to 30,788 shares, reinforcing alignment with shareholders.

Negative

• Minimal economic signal: Only 311 shares granted (~$13k), classified as compensation rather than voluntary purchase; limited insight into insider sentiment.

Insights

Financial Analyst

TL;DR: Small, routine restricted-stock grant to director; negligible impact on valuation, slightly positive for governance.

The filing records a grant of 311 common shares to Director Randall Schilling, lifting his stake to 30,788 shares. At the reference price of $41.68, the award is worth roughly $13,000, a de-minimis amount relative to CASS’s market capitalization. Code “A” and the footnote confirm the shares are restricted, implying no open-market cash outlay by the insider. While any additional insider ownership marginally aligns director incentives with shareholders, the size and routine nature render the event not materially impactful for investors.

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
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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^*

Schilling Randall L

(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	30,788(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/ Randall L. Schilling	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 Randall Schilling acquire?

311 common shares were acquired on 06/19/2025.

What is Randall Schilling’s total ownership in CASS after the transaction?

He now beneficially owns 30,788 shares, including restricted stock.

Was the transaction an open-market purchase?

No. Code “A” indicates a grant/acquisition; the shares are restricted and subject to vesting.

What was the reference price for the awarded shares?

The filing lists a price of $41.68 per share.

Does this Form 4 have material impact on CASS stock?

Given the small size and routine nature, it is considered not materially impactful for valuation.